FORT LAUDERDALE, Fla., May 11, 2016 (GLOBE NEWSWIRE) -- Swisher Hygiene Inc. (the “Company”) (OTCQB:SWSH) announced
today that it has filed its Form 10-Q for the first quarter ended March 31, 2016.
First Quarter 2016 Highlights and Subsequent Events
- As of March 31, 2016, the Company had $25,299,000 of cash and cash equivalents, $4,836,000 of total liabilities and no
long-term debt on its balance sheet.
- On April 14, 2016, the Company announced that its Board of Directors unanimously approved the filing of a Certificate of
Dissolution on Friday, May 27, 2016. As of 6:00 pm Eastern Time on May 27, 2016, the Company’s shares will cease to be
traded on OTCQB, the Company’s stock transfer books will be closed and transfers of the shares of the Company’s common stock will
no longer be recorded. Under Delaware law, the dissolved corporation is continued for three (3) years (or for such longer
period as the Court of Chancery shall in its discretion direct) to enable the Company’s directors to wind up the affairs of the
corporation, including the discharge of the Company’s liabilities and to distribute any remaining assets to the Company’s
stockholders. No assurances can be made as to if or when any such distribution will be made, or the amount of any such
distribution, if one is made. Any distribution, however, would be made to the Company’s stockholders of record as of May
27, 2016.
Cautionary Statement on Forward-Looking Information
All statements other than statements of historical fact contained in this press release constitute
"forward-looking information" or "forward-looking statements" within the meaning of the U.S. federal securities laws and the
Securities Act (Ontario) and are based on the expectations, estimates and projections of management as of the date of this press
release unless otherwise stated. All statements other than historical facts are, or may be, deemed to be forward looking
statements. The words "plans," "expects," "is expected," "scheduled," "estimates," or "believes," or similar words or variations of
such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken,"
"occur," and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while
considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic
and competitive uncertainties and contingencies. All of these assumptions have been derived from information currently
available to the Company including information obtained by the Company from third-party sources. These assumptions may prove to be
incorrect in whole or in part. All of the forward-looking statements made in this press release are qualified by the
above cautionary statements and those made in the "Risk Factors" section of the Company’s Annual Report on Form 10-K for the year
ended December 31, 2015, filed with the Securities and Exchange Commission, available on www.sec.gov, and with Canadian securities
regulators available on the Company’s SEDAR profile at www.sedar.com, and the Company’s other filings with the Securities and
Exchange Commission and with Canadian securities regulators available on the Company’s SEDAR profile at www.sedar.com. The
forward-looking information set forth in this press release is subject to various assumptions, risks, uncertainties and other
factors that are difficult to predict and which could cause actual results to differ materially from those expressed or implied in
the forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking
statements to reflect subsequent events and circumstances, except to the extent required by applicable law.
About Swisher Hygiene Inc.
Swisher Hygiene Inc. is an OTCQB listed company that closed on the sale of its U.S. operations to Ecolab Inc. on
November 2, 2015. For more information, please visit www.swshinvestors.com.
For Further Information, Please Contact: Swisher Hygiene Inc. Investor Contact: Garrett Edson, ICR Phone: (203) 682-8331
