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CWD Cons Envirowaste Industries Inc. (Tier1)

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Share Name Share Symbol Market Type
Cons Envirowaste Industries Inc. (Tier1) TSXV:CWD TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Consolidated Envirowaste Shareholders Approve Plan of Arrangement

29/01/2010 7:52pm

Marketwired Canada


Consolidated Envirowaste Industries Inc. (TSX VENTURE:CWD) - 

Consolidated Envirowaste Industries Inc. (the "Company") is pleased to announce
that at the special general meeting held today, the Company's shareholders
approved the previously announced plan of arrangement (the "Arrangement")
involving the Company, its shareholders and 0865273 B.C. Ltd., a private company
incorporated by James Darby and Douglas Halward (together, the "Acquiring
Shareholders") for the purpose of completing the Arrangement. 


On the completion of the Arrangement, the Acquiring Shareholders will acquire
all of the issued and outstanding common shares of the Company not currently
owned or controlled, directly or indirectly, by the Acquiring Shareholders or
their spouses, for $0.14 per share in cash.


The special resolution approving the Arrangement was approved by 97.33% of the
votes cast by holders of the Company's common shares. In addition, as required
by Multilateral Instrument 61-101 of the Canadian Securities Administrators, the
resolution approving the Arrangement was also approved by 76.92% of the votes
cast by minority shareholders (excluding the Acquiring Shareholders and their
spouses).


The completion of the Arrangement remains subject to final approval by the
Supreme Court of British Columbia (the "Court"). The Company will be making its
application to the Court for final approval of the Arrangement on February 2,
2010. The Company and the Acquiring Shareholders expect the Arrangement to be
completed on or about February 5, 2010.


Further details regarding the Arrangement are set out in the Company's
management information circular dated December 23, 2009, which was mailed to the
Company's shareholders together with a letter of transmittal containing
instructions for the surrender of share certificates to the depositary. The
management information circular and letter of transmittal are available at
www.sedar.com. 


Shareholders who surrender their share certificates to the depositary, together
with a properly completed letter of transmittal, will receive a cash payment of
$0.14 per share following the completion of the Arrangement.


This release contains forward-looking statements. These statements involve a
number of risks and uncertainties and actual results could differ materially
from those projected. These forward-looking statements regarding future events
and the completion of the acquisition of the Company by the Acquiring
Shareholders are based on current expectations, beliefs and assumptions of
management. Factors that might cause or contribute to such differences include
risks related to the ability of the Company and the Acquiring Shareholders to
satisfy the conditions precedent to the Arrangement and to market conditions.
Investors are also directed to consider the other risks and uncertainties
discussed in the Company's required financial statements and filings. The
Company undertakes no obligation to revise or update publicly any
forward-looking statements, expect as required by applicable law.


On behalf of the Board of Directors of CONSOLIDATED ENVIROWASTE INDUSTRIES INC.

Douglas R. Halward, President and Director

1 Year Cons Envirowaste Industries Inc. (Tier1) Chart

1 Year Cons Envirowaste Industries Inc. (Tier1) Chart

1 Month Cons Envirowaste Industries Inc. (Tier1) Chart

1 Month Cons Envirowaste Industries Inc. (Tier1) Chart

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