Micron Waste Receives DTC Eligibility
Cannabis Waste Company to Benefit from Enhanced Liquidity and Exposure to US Capital Markets
VANCOUVER, July 22, 2019 /CNW/ - Micron Waste Technologies Inc. ("Micron" or the "Company") (CSE: MWM, OTC: MICWF, Frankfurt: 7FM2), a leading developer of waste treatment systems for cannabis and food waste, has announced that its shares are now eligible for electronic clearing and settlement in the United States through the Depository Trust Company ("DTC"). DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. DTC services provide cost benefits for investors and brokers trading Canadian securities in the United States.
"Micron intends to become a unique ancillary supplier to the rapidly growing American cannabis sector. In particular, Micron aims to service multi-state operators expanding their cultivation footprints and producing more waste under stricter regulatory and environmental oversight," said Alfred Wong, Micron President and CEO. "DTC eligibility is a natural evolution for our Company - our shareholders will benefit from increased liquidity and a larger shareholder base in addition to greater convenience and execution speeds."
Cannavore™ Update
Micron's Cannavore waste system prototype continues to meet milestones at Aurora Cannabis Inc.'s Mountain facility near Calgary, where is it undergoing full throughput processing and stress testing. The world's first closed-loop cannabis waste processing system was designed to Aurora's specifications to be a clean technology solution to process organic waste generated from the growth and cultivation of cannabis, while mitigating concerns about the potential environmental impact.
Micron currently has additional Cannavore systems under construction, working with strategic partner BC Research Inc. Micron's Organivore™ food waste system prototype is currently being upgraded with new technology developed for the Cannavore.
Results of the Company AGM
The Company's Annual General Meeting was held on July 18, 2019. All matters submitted to shareholders for approval as set out in the Company's Notice of Meeting and Information Circular were approved by the requisite majority of votes cast at the meeting. Resolutions passed at the meeting included the appointment of Smythe LLP, Chartered Professional Accountants as auditors and the election of Kulwant (Kal) Malhi, Cam Battley, Dr. Bharat (Bob) Bhushan and Dr. Hyder Khoja as directors.
About Micron Waste Technologies Inc.
Micron is a leading green technology company that develops organic waste treatment and water reclamation systems. Micron focuses on developing solutions for organic waste and specialized waste streams including cannabis cultivation waste. Micron's patented aerobic bio-process substantially reduces the volume of organic waste, minimizes greenhouse gas emissions generated from trucking and landfilling, and produces clean water that meets municipal effluent discharge standards. The Company has a strategic partnership with Aurora Cannabis Inc. (TSX:ACB, NYSE:ACB), one of the world's leading cannabis companies. In addition, Micron is partnered with BC Research Inc, part of the NORAM Group of Companies, with extensive experience in large scale private and municipal wastewater treatment systems. Micron is a public company with listings on the CSE: MWM, OTC: MICWF, and in Frankfurt: 7FM2. Please visit www.micronwaste.com for further information.
Alfred Wong
President and CEO
The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS:
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
SOURCE Micron Waste Technologies Inc.
Karen Lauriston, VP Corporate, +1.905.691.1185, [email protected]
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