Anaergia Board Approves Engaging Financial Advisor for Strategic Review
Business WireJul 18, 2023 11:00 PM EDT
Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) today announced that its Board of Directors (the “Board”) has approved a motion to engage one or more financial advisors to assist the Board and the Company’s management to conduct a strategic review of the Company’s options to maximize stakeholder value. These options could include but are not limited to raising additional financing, sale of certain assets, and the privatization, reorganization or restructuring of Anaergia.
The Company cautions that there are no assurances that the evaluation of the potential options will result in the approval or completion of any specific transaction or outcome.
Anaergia does not intend to comment publicly further unless and until its Board of Directors approves a specific transaction, concludes its review, or determines that further disclosure is appropriate or is required.
About Anaergia
Anaergia was created to eliminate a major source of greenhouse gases by cost effectively turning organic waste into renewable natural gas (RNG), fertilizer and water, using proprietary technologies. With a proven track record from delivering world-leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste , implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the municipal solid waste, municipal wastewater, agriculture, and food processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.
For further information please see: www.anaergia.com
Forward-Looking Statements
This news release may contain forward-looking information within the meaning of applicable securities legislation, which reflects Anaergia's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Anaergia's control. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in Anaergia's annual information form dated April 10, 2023 for the fiscal year ended December 31, 2022 and the risks discussed in Anaergia's MD&A dated May 11, 2023 for the first quarter of 2023. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.