WOODINVILLE, WA / ACCESSWIRE / August 16, 2021 / Deep Green Waste & Recycling, Inc. (OTCQB:DGWR), a waste and recycling services company for commercial customers, today announces that it signed a Definitive Stock Purchase Agreement to acquire Lyell Environmental Services Inc., a commercial environmental remediation, abatement, and testing services company based in Nashville, Tennessee.
Deep Green Waste & Recycling ("Deep Green") has agreed to acquire 100% of Lyell Environmental Services for $1.35M in cash and stock. Deep Green will finance the cash portion of this transaction using convertible debt financing in close cooperation with its strategic investment partners.
"This acquisition is a major milestone in Deep Green's strategic plan and is strategically important to the company's growth strategy," said Lloyd Spencer, President and CEO of Deep Green. "We believe that Lyell Environmental Services can contribute to Deep Green's services strategy by growing the environmental and remediation services business across the Southeast US."
Deep Green expects to close the acquisition in September subject to approval by Deep Green's Board of Directors, meeting closing conditions, and customary regulatory approvals. Lyell Environmental Services, Inc. will operate as a wholly owned subsidiary of Deep Green Waste & Recycling, Inc.
About Lyell Environmental Services, Inc.
Lyell Environmental Services, Inc. is an established commercial environmental and ecological testing services company based in Nashville, Tennessee. For more information, visit: https://www.lyellenvironmentalservices.com/.
About Deep Green Waste & Recycling, Inc.
Deep Green Waste & Recycling, Inc. (OTCQB:DGWR) is a waste, recycling and remediation services which provides sustainable waste, recycling, and remediation services, and helps commercial customers realize cost-savings using streamlined processes that help manage, reduce, and recycle waste streams. For more information, visit: https://DeepGreenWaste.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: [email protected]
SOURCE: Deep Green Waste & Recycling