Consolidated Envirowaste Industries Inc.
TSX VENTURE : CWD

Consolidated Envirowaste Industries Inc.

February 26, 2010 17:38 ET

Consolidated Envirowaste Completes Going-Private Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 26, 2010) - Consolidated Envirowaste Industries Inc. (TSX VENTURE:CWD) (the "Company") is pleased to announce that its going-private transaction was successfully completed today pursuant to a plan of arrangement (the "Arrangement") involving the Company, its shareholders and 0865273 B.C. Ltd., a company owned by James Darby ("Darby"), Douglas Halward ("Halward") and their spouses (collectively, the "Acquiring Shareholders"). In accordance with the Arrangement, the Acquiring Shareholders acquired all of the shares of the Company not already owned or controlled by them.

Darby is a director and the Chairman and Chief Executive Officer of the Company. After giving effect to the Arrangement, Darby and his spouse collectively beneficially own or control, directly or indirectly, 6,441,507 Shares, representing 61.85% of the Company's issued and outstanding Shares.

Halward is a director and the President of the Company. After giving effect to the Arrangement, Halward and his spouse collectively beneficially own or control, directly or indirectly, 3,973,192 Shares, representing 38.15% of the Company's issued and outstanding Shares.

The shares were acquired in a going-private transaction for investment purposes. The Company's shares will now be de-listed from the TSX Venture Exchange, and the Company is making application to the applicable securities regulatory authorities for an order that it has ceased to be a reporting issuer.

On behalf of the Board of Directors
CONSOLIDATED ENVIROWASTE INDUSTRIES INC.

"Douglas Halward"
DOUGLAS HALWARD

On behalf of the Acquiring Shareholders

"James Darby" "Douglas Halward"
JAMES DARBY DOUGLAS HALWARD

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Consolidated Envirowaste Industries Inc.
    Doug Halward
    604-856-6836