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TORONTO, March 18, 2019 /CNW/ - Water Ways Technologies Inc. (TSXV: WWT) ("Water Ways" or the "Company"), is pleased to announce that it has retained Hybrid Financial Inc. ("Hybrid") to provide investor relations services to the Company. The services will include marketing and branding initiatives on to raise market awareness of the Company and increase the Company's profile with investment community in Canada.
Pursuant to the terms of the agreement entered into between the Company and Hybrid March 15, 2019 (the "Agreement"), Hybrid will receive a monthly retainer of $16,000 from its cash on hand for an initial period of six months, following which the Agreement may be renewed by the Company on a month-to-month basis. The Agreement is subject to the approval of the TSX Venture Exchange.
As of the date hereof, Hybrid owns common shares in the capital of the Company equal to approximately 0.6% of the Company's basic total issued and outstanding shares and share purchase warrants equal to 0.26% of the total fully-diluted issued and outstanding shares. Hybrid acquired securities in Irri-Al-Tal Ltd. ("IAT") for investment purposes prior to IAT completing the share exchange transaction with the Company, which provided for the acquisition of all of the outstanding equity interests of IAT by the Company in exchange for securities of the Company (see the Company's press release dated March 7, 2019). To the Company's knowledge, Hybrid does not intend to acquire additional securities in the capital of the Company.
About Hybrid Financial Ltd.
Hybrid was in early 2011 to provide retail-focused origination and distribution services to the investment management industry throughout North America. Hybrid is based in Toronto, Ontario and also has an office in Montreal, Quebec. Hybrid is a sales & distribution company working on behalf of clients in the financial services industry. Hybrid's unique approach helps us effectively and efficiently build brands and launch products on behalf of its small, medium and large clients.
About Water Ways Technologies
Water Ways is the parent company of IAT which is an Israeli based agriculture technology company that specializes in providing water irrigation solutions to agricultural producers. IAT competes in the global irrigation water systems market with a focus on developing solutions with commercial applications in the micro and precision irrigation segments of the overall market. At present, IAT's main revenue streams are derived from the following business units: (i) Projects Business Unit; and (ii) Component and Equipment Sales Unit. IAT was founded in 2003 by Mr. Ohad Haber with a view of capitalizing on the opportunities presented by micro and smart irrigation, while also making a positive mark on society by making these technologies more widely available, especially in developing markets such as Africa and Latin America. IAT's past projects include vineyards, water reservoirs, fish farms, fresh produce cooling rooms and more, in over 15 countries.
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to Water Ways, including receipt of the Final Exchange Bulletin and the proposed listing date, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Water Ways' current views and intentions with respect to future events, and current information available to Water Ways, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information, including: the approval of the investor relations agreement by the TSX Venture Exchange and the ability of Hybrid to provide the services in the Agreement. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Water Ways in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Water Ways does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Water Ways undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. Water Ways' results and forward-looking information and calculations may be affected by fluctuations in exchange rates. All figures are in Canadian dollars unless otherwise indicated.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Water Ways Technologies Inc.
For further information: Ronnie Jaegermann, Director, +972-54-4202054, [email protected], https://www.water-ways-technologies.com/