SOURCE: BWI Holdings, Inc.

BWI Holdings, Inc.

April 13, 2009 09:00 ET

Budget Waste Inc. Corporate Update

CALGARY, AB--(Marketwire - April 13, 2009) - BWI Holdings, Inc. (OTCBB: BWIH) operating as Budget Waste Inc. announced today that the application of its subsidiary, Budget Waste Inc. (Alberta), to the Court of Queen's Bench of Alberta for an Order under the Companies' Creditors Arrangement Act (Canada) ("CCAA") was allowed. The Order was made under section 11 of the CCAA, and was extended by application before the Court to May 14, 2009, at which time the matter will, again, be reviewed by the Court. While the Order is in effect, the Company will work with a court-appointed Monitor and it will continue to implement a Plan of Arrangement for its creditors.

"We are pleased that the court has entered this order as it will permit Budget Waste Inc. to restructure its debts and credit facility. Upon successful completion Budget Waste Inc. will emerge from CCAA as a stronger company," said Jim Can, CEO & President. In the Meantime the company if fully operational and continues to provide the same level of service, securing and signing additional new business.

About BWI Holdings, Inc.

BWI Holdings, Inc. is a waste solutions company in Western Canada providing complete waste and recycling services to commercial, industrial, construction, homebuilding, oilfield and residential clients. With our broad range of innovative services we offer our customers more value for their dollar and reduce accounting costs by providing streamlined billing. BWIH is currently following its growth through acquisition strategy with exceptional success. With regulations throughout North America pressing companies and individuals to be more vigilant in the way they handle their waste products we see vast opportunity for expansion of our distinctive services. We are confident that extraordinary growth and focus on customer needs will bring our stockholders outstanding value for the confidence they have placed in BWIH.

For more information on BWI Holdings, Inc., please visit our web site at www.budgetwaste.com or contact our investor relations department at:

BWI Holdings, Inc.
Investor Relations
3915 - 61st Ave. SE.
Calgary, AB T2C 1V5
Ph. 403-255-2900
Toll Free 1-888-255-2990
Fax: 403-255-3237
Email: ir@budgetwaste.com

Safe Harbor Act Notice:

Certain information included in this press release, may contain forward-looking statements about our current and expected performance trends, growth plans, business goals and other matters. These statements may be contained in our filings with the Securities and Exchange Commission, in our press releases, in other written communications, and in oral statements made by or with the approval of one of our authorized officers. Information set forth in this press release contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Private Securities Litigation Reform Act of 1995 (the "Act") provides certain "safe harbor" provisions for forward-looking statements. The reader is cautioned that such forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Forward-looking statements speak only as of the date the statement was made. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

Contact Information

  • BWI Holdings, Inc.
    Investor Relations
    3915 - 61st Ave. SE.
    Calgary, AB T2C 1V5
    Ph. 403-255-2900
    Toll Free 1-888-255-2990
    Fax: 403-255-3237
    Email: Email Contact