Yahoo Finance

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, June 09, 2022 (GLOBE NEWSWIRE) -- Water Ways Technologies Inc. (TSXV: WWT) (FRA: WWT) ("WWT" or the "Company"), a global provider of Israeli-based agriculture technology, providing water irrigation solutions to agricultural producers is pleased to update that the due diligence process on the acquisition (see press releases dated January 12, 2022 and April 5, 2022) of Desarrollo De Sistemas Hidraulicos SA ("Hidrotop") is progressing in a positive manner and the parties are in final stages of negotiating the definitive terms of the purchase and sale (the "SPA"). The parties expect to sign a definitive SPA on or prior to June 30, 2022. The SPA will provide that closing of the acquisition will be subject to certain conditions including the approval of the TSX Venture Exchange.

Hidrotop is a smart irrigation provider that designs, sources and installs smart irrigation and fertigation projects in Chile and Argentina. Hidrotop was founded in 1997, employs over thirty-five employees and has installed more than 30,000 hectares of irrigation and fertigation projects. Hidrotop has been a client of Water Ways for many years purchasing smart irrigation components. Hidrotop has vast experience and knowledge in the South American irrigation market as well as developing special techniques using water technologies in the mining industry.

About Water Ways Technologies Inc.
WWT through its subsidiaries, is a global provider of Israeli-based agriculture technology, providing water irrigation solutions to agricultural producers. WWT 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, WWT’s main revenue streams are derived from the following business units: (i) Projects Business Unit; and (ii) Component and Equipment Sales Unit. WWT is 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 and developed markets such as China and Canada. WWT’s irrigation projects include vineyards, Cotton fields, Apple and Orange orchards, Blueberry, Medical Cannabis growers, fresh produce cooling rooms and more, in over fifteen countries.

https://www.water-ways-technologies.com/