Environmental Waste International Inc. (TSXV: EWS) announced on September 30, 2024, that Hydrotrux Group Ltd. will acquire all outstanding shares at C$0.0035 per share. The transaction addresses EWS’s liquidity challenges and will support its Sault Ste. Marie pilot plant.

The deal, unanimously approved by EWS’s Board, will be completed through a court-approved plan of arrangement, subject to shareholder approval on November 20, 2024, and other customary conditions. Closing is expected shortly thereafter.

Origin Merchant Partners acted as financial advisor to EWS, supported by WeirFoulds LLP. Borden Ladner Gervais LLP advised Origin Merchant Partners, while Stikeman Elliott LLP represented Hydrotrux.

Post-closing, EWS shares will be delisted, and the company will cease reporting issuer status.