Greenway Technologies Announces Postponement of 2020 Annual Meeting of Stockholders

UNITED STATES


ARLINGTON, TEXAS, Aug. 07, 2020 (GLOBE NEWSWIRE) -- Greenway Technologies, Inc. (OTCQB: GWTI), an advanced gas-to-liquids (GTL) technology development company, today announced the postponement of its 2020 Annual Meeting of Stockholders (the 2020 Annual Meeting) due to COVID-19. GWTI's first priority is to protect the health and safety of its stakeholders.

GWTI had intended to hold its 2020 Annual Meeting in person, in Dallas, Texas. However, due to public health and travel concerns, including the current recommendations and restrictions on the conduct of non-essential business by Texas and Dallas public health officials in light of the evolving COVID-19 situation, the company is postponing the 2020 Annual Meeting to a to-be-determined date. As soon as the Board of Directors determines that an in-person meeting is safe for all participants, the company will announce a record date, the meeting date, time and location of the 2020 Annual Meeting, and the applicable time periods for stockholder proposals and director nominations.

Also, under guidance provided by the Securities and Exchange Commission (SEC), the company is assessing whether to potentially hold a virtual or hybrid 2020 Annual Meeting to protect the health and safety of its employees, stockholders, and others who usually attend the annual meeting. Should GWTI decide to hold either a virtual or hybrid 2020 Annual Meeting, instead of an in-person meeting in Dallas, stockholders would be able to participate in such an annual meeting only via electronic means. If the Board of Directors elects to hold a virtual or hybrid 2020 Annual Meeting, the company will provide stockholders with more information on how to participate in the 2020 Annual Meeting at that time.

Prior to holding the 2020 Annual Meeting, whether virtually or in person, it is the company’s intention to schedule an informative stockholders’ call with GWTI’s management, open to all stockholders and other interested parties. The company anticipates such stockholders’ call will occur within 45 days of the release of its Quarterly Report on Form 10-Q for the second quarter of fiscal year 2020, which is expected to be filed with the SEC on or around August 14, 2020. The company will provide information on how to participate in the stockholders’ call after filing the Form 10-Q.

About Greenway Technologies, Inc.

Based in Arlington, Texas, Greenway Technologies, Inc. is engaged in the research and development of proprietary gas-to-liquids syngas conversion systems and micro-plants that can be scaled to meet specific gas field production requirements. The company’s patented and proprietary technologies have been realized in its first commercial G-ReformerTM unit, a unique component used to convert natural gas into synthesis gas, which when combined with a Fischer-Tropsch reactor and catalyst, produces fuels including gasoline, diesel, jet fuel and methanol. G-Reformer units can be deployed to process a variety of natural gas streams including pipeline gas, associated gas, flared gas, vented gas, coal-bed methane and/or biomass gas. When derived from any of these natural gas sources, the liquid fuels created are incrementally cleaner than conventionally produced oil-based fuels. For more information about Greenway Technologies, Inc., including the company’s filings with the SEC, visit gwtechinc.com.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “expect,” “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend,” or similar expressions or statements regarding intent, belief, or current expectations, are forward- looking statements. While the company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based only on information available to the company as of the date of this release. Any such forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the company’s filings with the SEC. The company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events, or otherwise, except as required by law.

Investors & Analysts Contact:
Greenway Investor Relations
800-289-2515
ir@gwtechinc.com