The Company Should Close in April on the Definitive Agreement to Acquire the Florida Company with over 1.4 Million in Top Line Revenue and 16 Employees Servicing Clients Covering the Entire State of Florida for the past 22 years
PORT ST. LUCIE, FL--(Marketwired - March 12, 2018) - Water Technologies International, Inc. (OTC PINK: WTIID) (News) the leader in the technology in atmospheric water generator's production and design announced today that it is acquiring a Florida company that that provides commercial water treatment to hotels and large businesses. Under the terms of the agreement with the Florida Company, the name of the acquisition target will not be disclosed until after the closing. The acquisition target has been in business for the past 22 years providing residential and commercial water treatment throughout Florida.
Water Technologies International, Inc. has evolved as a "Pure Water Play" generating, cleaning producing drinking water, water for agriculture and a full line or waste water treatment solutions. After the completion of the acquisition the Company will be providing commercial and industrial wastewater solutions and feels it is important to update the shareholders on the Company's developments as it strives to improve the existing technology and drive sales in Florida and on a Global basis.
Water Technologies, Inc.'s CEO, William Scott Tudor, said, "I am excited about the Acquisition of this Florida Company. The combination of the acquisition with its large client base, and Water Technologies' product line, is a good fit and the combined Companies should see substantial revenue growth over the next few years as combination our Companies and product lines will give us the ability to provide water treatment and water generation solutions to our combined Client base. I see this as a game changer for Water Technologies. We will now focus on the commercial applications for the company's Water Generation, waste water processing, Ozone and hydrogen technologies. We want to expand our Intellectual Property and product portfolio. This will substantially expand our commercial water generation ability and will lower our cost of production per gallon. This is a move to stabilize Water Technologies and be in the Florida on of the fastest growing markets in the US. This solidifies our ability to license, market, and distribute our product line here and abroad. I'm extremely optimistic about our future!"
Water Technologies has completed a 1 for 50 reverse split on the common stock. Currently the Company has 67,736,753 common shares issued and outstanding. Of the shares issued and outstanding 16,929,383 are free trading and 50,807370 are restricted. In 2017 the CEO and all insiders combined did NOT sell any shares of their stock. For more information on Water Technologies International, Inc., go to OtcMarkets.com for the current financial statements and disclosure statements regarding the Company.
A video showing the proof of concept prototype is available at the company's website, www.gr8water.net
For a direct link to a copy of the company's product information "Slick Sheets" visit our website at: www.gr8water.net/products/product-slick-sheets .
About the Company
Water Technologies International, Inc. and its wholly owned subsidiaries, GR8 Water, Inc. (Great Water) and Aqua Pure International, Inc. (Specializing in Filtration Systems) are engaged in the manufacture and distribution of technologically advanced Atmospheric Water Generators (AWG). These unique devices utilize a patent pending air purification input system to produce clean, great-tasting, safe water from the humidity in the air. GR8 Water makes freestanding water factory units for the home or office and large, industrial-sized water units using a modular design that can produce up to thousands of gallons of water each day from ambient air. GR8 Water strives to make safe drinking water available to everyone on the planet, making the world a better place in which to live while nurturing the environment. The Company has patents issued by the USPTO and has filed for additional patents with the USTPO. It has also filed globally through the Patent Cooperation Treaty. Its "Water village" trademark has been issued by the USPTO.
Statement as to Forward-Looking Statements.
Forward-Looking Statements certain statements in this release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors. We assume no obligation to update the information contained in this news release.
For Further Information Contact:
Investor Relations for Water Technologies Intl., Inc.
William S, Tudor, CEO