SOURCE: BWI Holdings, Inc.

BWI Holdings, Inc.

January 26, 2010 16:52 ET

BWI Holdings, Inc. to Bring SEC Reporting Current

CALGARY, AB--(Marketwire - January 26, 2010) - BWI Holdings, Inc. (PINKSHEETS: BWIH) announces that, after the anticipated approval by the creditors of Budget Waste, Inc., the Company's wholly owned subsidiary in Calgary, Alberta, Canada ("Budget Alberta"), of the Plan of Arrangement at the end of January 2010, and the approval by the Court of the Plan of Arrangement, the Company intends promptly thereafter to complete all delinquent audits and make all appropriate filings with the U.S. Securities and Exchange Commission to become current with its reporting requirements under the Securities Exchange Act of 1934.

As previously announced, the Company became delinquent in its SEC reporting obligations in 2009 due to the financial struggles of Budget Alberta, its subsequent filing for protection from creditors under CCAA, and the Company's inability to fund the costs associated with audits at that time.

Budget Waste, 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. BWI 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 BWI.

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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

  • Contact:
    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