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TORONTO, Feb. 08, 2021 (GLOBE NEWSWIRE) -- Water Ways Technologies Inc. (TSXV: WWT) ("Water Ways" or the "Company"), is pleased to announce that it has received its fifth commercial and first international order for its Medical Cannabis IOT Irrigation and fertilization system. The CAD$160,000 order was received from a Licensed Producer in Southern Africa who is currently building a 10,000 Square meters (approximately 110,000 Sq. ft.) Medical Cannabis Cultivation facility. The order was received through a greenhouse integrator who is building the complete facility.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/10798b2b-c5b6-4b37-8852-7c29610485b5
The system is an Internet of Things ("IOT") controlled irrigation and fertilization system for Cannabis cultivators and growers. Water Ways believes the system is one of the first in the world that was designed for the specific needs of Cannabis growers and cultivators worldwide. The Company expects to deliver and install the system by the end of May 2021.
The system was developed in Israel by the Company's engineers using the Company's unique knowhow gained in the irrigation industry and tailored specifically to the Client's specific needs.
Ohad Haber the Company's Chairman and CEO commented: "I am pleased that our technology is gaining traction in the international Cannabis market. This is the first international order for a Medical Cannabis irrigation system. We received this order following the success we gained is delivering Irrigation systems to the Medical Cannabis Industry in Israel among them to Cronos Israel. We will continue to focus our efforts on selling similar systems around the world."
About Water Ways Technologies
Water Ways Technologies Inc., through its subsidiaries, is a global provider of Israeli-based agriculture technology, providing water irrigation solutions to agricultural producers. Water Ways Technologies competes in the global irrigation water systems market with a focus on developing solutions with commercial applications in the micro and precision irrigation segments of the overall market. At present, Water Ways Technologies' main revenue streams are derived from the following business units: (i) Projects Business Unit; and (ii) Component and Equipment Sales Unit. Water Ways Technologies is capitalizing on the opportunities presented by micro and smart irrigation, while also making a positive mark on society by making these technologies more widely available, especially in developing markets such as Africa and Latin America and developed markets such as China and Canada. Water Ways Technologies irrigation projects include vineyards, Cotton fields, Apple and Orange orchards, Blueberries, Medical Cannabis, fresh produce cooling rooms and more, in over 15 countries.
| For more information, please contact | |
| Ronnie Jaegermann | Guy Nathanzon |
| Director | CFO |
| T: +972-54-4202054 | T: +972-52-6007221 |
| E: ronnie@waterwt.com | E: guyn@waterwt.com |
https://www.water-ways-technologies.com/
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Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to Water Ways. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Water Ways' current views and intentions with respect to future events, and current information available to Water Ways, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Water Ways in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Water Ways does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Water Ways undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. Water Ways' results and forward-looking information and calculations may be affected by fluctuations in exchange rates. All figures are in Canadian dollars unless otherwise indicated.