Deep Green Waste & Recycling Announces Removal of Shell Risk Designation by OTC Markets Signs Letter of Intent to Acquire Environmental Remediation and Services Company

Rhea-AI Summary

Deep Green Waste & Recycling (OTCQB: DGWR) announced the removal of its "shell risk" designation by OTC Markets on June 2, 2021. The company signed a Letter of Intent to acquire a profitable environmental remediation business in the Southeast US, boasting revenues over $1.25M. This acquisition aims to enhance their growth trajectory and expand their market presence. Additionally, Deep Green is partnering with institutional investors for long-term financing to support its acquisition strategy and marketing initiatives for Amwaste, its subsidiary.

Positive

• Removal of 'shell risk' designation enhances DGWR's market credibility.
• Acquisition of a profitable environmental remediation company with over $1.25M in revenue expected to boost growth.
• Strategic relationships with investors to secure long-term financing for growth initiatives.

Negative

• None.

WOODINVILLE, Wash., June 2, 2021 /PRNewswire/ -- Deep Green Waste & Recycling, Inc. (OTCQB: DGWR) announced today that the Company's "shell risk" designation from OTC Markets has been removed, and has signed a Letter of Intent (LOI) to acquire an environmental remediation and services company.

The OTC Markets shell risk designation indicates that a company may be a shell company, as defined by SEC rules or displays characteristics common to shell companies. This designation is made at OTC Markets' discretion based on an analysis of the company's key financial data.

The Company also signed an LOI in May 2021 to acquire a profitable environmental remediation and services company in the Southeast United States with revenues in excess of $1.25M.  The companies expect to sign a Definitive Stock Purchase Agreement and close the transaction after completing an audit.

Deep Green Waste & Recycling has been establishing strategic relationships with institutional investors that offer substantial and longer-term financing solutions that would help the Company achieve its acquisition strategy.

Working with our strategic investorS, the Company shall use these investments to:

• grow Amwaste by expanding the customer base and acquiring assets that will help grow business
• acquire multiple profitable waste and remediation services companies in the Southeast United States
• fund marketing campaigns that will help grow Amwaste's business and the Company's shareholder base

About Deep Green Waste & Recycling, Inc.

Deep Green Waste & Recycling, Inc. (OTCQB: DGWR) is a waste and remediation company which provides sustainable waste and recycle management services, and helps commercial customers realize cost-savings using streamlined processes that help reduce, re-purpose and recycle waste.  The Company recently announced its first revenues since the company was re-launched in early 2020 when the company filed an S-1 registration statement with its investment partners.  For more information, visit: https://DeepGreenWaste.com.

About Amwaste

Amwaste is a wholly owned subsidiary of Deep Green Waste & Recycling that serves the Golden Isles region of coastal Georgia.  For more information, visit: https://www.callamwaste.com.

SAFE HARBOR STATEMENT

This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

For information, please contact:

Lloyd Spencer, President
Deep Green Waste & Recycling, Inc.
13110 NE 177th Place, #293
Woodinville, WA  98072

Phone: (833) 304-7336 / (833) 30-GREEN

Email: Investor@DeepGreenWaste.com 

 

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SOURCE Deep Green Waste & Recycling, Inc.

FAQ

What is the significance of the shell risk designation removal for DGWR?

The removal enhances DGWR's credibility in the market and improves investor confidence.

What company is DGWR planning to acquire and what are its financials?

DGWR plans to acquire an environmental remediation company in the Southeast US with revenues exceeding $1.25M.

What is the expected impact of the acquisition on DGWR's business?

The acquisition is expected to accelerate growth and expand DGWR's market presence in the waste and remediation sector.

How will DGWR finance its acquisition strategy?

DGWR is establishing strategic relationships with institutional investors for substantial long-term financing.