BURNABY, BC, May 13 /CNW/ - International Water-Guard Industries Inc.
(the "Company") is pleased to announce the proposed effective date for its corporate
reorganization. As previously announced, the reorganization will be
effected pursuant to a court-approved statutory plan of arrangement
(the "Plan of Arrangement") which will result in the Company becoming a wholly-owned subsidiary
of IWG Technologies Inc. ("IWG Technologies") and the current shareholders of the Company becoming shareholders of
IWG Technologies. The Plan of Arrangement was approved by the
Company's shareholders at the annual and special meeting held on April
26, 2011 and received final approval of the British Columbia Supreme
Court on May 6, 2011.
Effective at the open of markets on Monday, May 16, 2011, the common
shares of IWG Technologies will be listed on the TSX Venture Exchange
(the "TSX-V") and the common shares of the Company will be delisted. The trading
symbol for IWG Technologies' common shares on the TSX-V will be "IWG",
the current trading symbol of the Company. The Company's shareholders
will receive a letter of transmittal from Computershare Investor
Services Inc., the Company's transfer agent, with instructions on how
to exchange their common shares of the Company for common shares of IWG
Further details regarding the reorganization can be found in the
Company's news releases dated March 24, 2011 and April 27, 2011.
The Company is a Canadian aerospace company focusing on aircraft potable
water treatment and full water system solutions. The Company has
expertise in all aspects of water treatment, and has the products and
know-how to provide high quality water for passengers and crew, and
light weight, space saving solutions for the aircraft operator.
On behalf of the Board of Directors
International Water-Guard Industries Inc.
"David C. Fox"
President and CEO
The TSX Venture Exchange has neither approved nor disapproved of the
contents of this press release. Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this press release.
TSX VENTURE: IWG
SOURCE International Water-Guard Industries Inc.
For further information:
| || || || || International Technologies Inc. |
Unit One - 3771 North Fraser Way,
Burnaby, BC V5J 5G5 Canada
Tel: (604) 255-5555, 1-800-667-0331,
Fax: (604) 255-5685
| Investor Relations: The Howard Group Inc. |
Bob Beaty / Grant Howard
Toll Free: 1-888-221-0915