DEEP GREEN Completes Asset Sale of Georgia Subsidiary and Strengthens Company Cash Position
Saint Simons Island, GA, March 25, 2024 (GLOBE NEWSWIRE) -- DEEP GREEN Waste & Recycling Inc. (OTCQB: DGWR) today announced that it has completed the sale of a wholly-owned subsidiary, DG Research Inc, dba AMWASTE, to Amwaste of Georgia, LLC for a purchase price of $175,000.
The sale is part of Deep Green's ongoing efforts to optimize operations and concentrate on its core competencies in environmental safety, analysis, testing, remediation, and abatement services. The divested assets encompass equipment, customer contracts, intellectual property, and leases associated with the waste hauling business operated by DEEP GREEN’S subsidiary situated in Glynn County, Georgia
"As we continue to execute on our strategy to be a leading, vertically integrated provider of sustainable waste, recycling and remediation services, this divestiture allows us to redeploy resources to higher growth opportunities aligned with our long-term vision," said Bill Edmonds, Chairman and CEO of Deep Green. “This will also help DEEP GREEN pursue strategic opportunities to broaden its portfolio of environmental services and expand nationally.”
For more information, please refer to the Form 8-K filed by Deep Green with the Securities and Exchange Commission on March 22, 2024.
About DEEP GREEN Waste & Recycling, Inc.
DEEP GREEN Waste & Recycling, Inc. (OTCQB:DGWR) is an Environmental Protection Agency (EPA) compliant and state compliant environmental services company. With a steadfast commitment to EPA and state regulations and certifications, the company specializes in the meticulous removal of toxic materials, including mold, lead, radon, and asbestos, across both commercial and residential properties. For more information, visit: https://DeepGreenWaste.com
About Lyell Environmental Services, Inc.
Lyell Environmental Services, Inc. is an established commercial environmental and ecological testing services company based in Nashville, Tennessee. With a strong focus on environmental protection and safety, the company offers a comprehensive range of services for commercial, institutional and residential properties, including environmental studies, hazardous substance testing, remediation, abatement, and removal. For more information, visit: https://www.lyellenvironmentalservices.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:
Bill Edmonds
DEEP GREEN Waste & Recycling, Inc.
260 Edwards Plz, #21266
Saint Simons Island, GA 31522
Phone: (912) 254-7889
Email: Investor@DeepGreenWaste.com
