Water Ways Announces Update on First Quarter Filings

  • Water Ways Technologies Inc. (TSXV: WWT) announces that in accordance with OSC Instrument 51-502 – Temporary Exemption from Certain Corporate Finance Requirements, and due to the COVID-19 pandemic (resulting in disruptions to the Company’s access to facilities, support staff and professional advisors), it intends to postpone the filing of its consolidated financial statements and accompanying management’s discussion and analysis and related CEO and CFO certifications for the three months ended March 31, 2020, which are required to be filed by May 30, 2020, under Sections 4.4 and 5.1(2) of National Instrument 51-102 – Continuous Disclosure Obligations.
  • On March 18, 2020, the Canadian Securities Administrators (CSA) announced that they would provide issuers with a 45-day filing extension for filings required on or before June 1, 2020, to allow issuers the time needed to focus on the many other business and financial reporting implications of the COVID-19 pandemic.
  • The Company will rely on this exemption with respect to the Quarterly Filings. The Company is continuing to work diligently and expeditiously to file the Quarterly Filings and currently expects them to be filed on June 15, 2020.
  • Until such time as the Quarterly Filings are filed, management and other insiders of the Company are subject to a trading black-out that reflects the principles in section 9 of National Policy 11-207.
  • The Company confirms there have been no undisclosed material business developments since April 29, 2020, the date of filing the Company’s annual financial statements for the period ended December 31, 2019, except as otherwise disclosed in this press release.

About Water Ways Technologies

Water Ways is the parent company of Irri-Al-Tal Ltd. (“IAT“), 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.

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