VAUGHAN, ON, Aug. 18, 2020 /CNW/ - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) ("GFL") commented on the misleading and false statements reported today by Spruce Point Capital Management relating to GFL's management and its financial and business practices. The report contains numerous inaccuracies and mischaracterizations, which GFL believes are solely intended to benefit Spruce Point, who has disclosed that it stands to profit significantly in the event that the stock price of GFL declines.
"We are very disappointed by the baseless report put out today by Spruce Point Capital," said Dino Chiesa, lead independent director of the board of GFL. "Spruce Point has never engaged with the company and the report is without merit. We have the support of our shareholders and the utmost confidence in management, who have held themselves to the highest ethical standards. We continue to believe in the strategy of the business and its focus on creating long-term shareholder value."
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services through its platform of facilities throughout Canada and in 23 states in the United States. Across its organization, GFL has a workforce of more than 13,000 employees and provides its broad range of environmental services to more than 135,000 commercial and industrial customers and its solid waste collection services to more than 4 million households.
SOURCE GFL Environmental Inc.
For further information: Investor contact: Patrick Dovigi, Founder and CEO, 905-326-0101, [email protected]; Media contact: Dan Gagnier / Jeffrey Mathews, Gagnier Communications, 646-569-5897