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TORONTO, Nov. 11, 2021 (GLOBE NEWSWIRE) — Water Ways Technologies Inc. (TSXV: WWT) (FRA: WWT) (“Water Ways” or the “Company“), a global provider of Israeli-based agriculture technology, providing water irrigation solutions to agricultural producers is pleased to announce that it received three new orders for its Medical Cannabis Internet of Things (“IOT“) Water & Control systems.
Two orders from existing customers consisting of:
- An irrigation and computerized control systems for a quarantine structure designed to validate the importation of new cannabis genetics. The irrigation and computerized control system in the structure is designed to achieve uniform growth and optimal growing conditions, so that the final product would meet the threshold conditions of laboratory tests and could be used to establish a new genetic bank for the existing medical cannabis cultivation facility; and
- A computerized controlled irrigation and fertigation system for a Research and Development room in the medical cannabis cultivation facility for hybrids of new varieties.
The third order is an order from a new client, a medical cannabis licensed producer in Israel, for its cannabis cultivation facility of 6000 Square meters (approximately 65,000 Square feet) from an Israeli medical cannabis licensed producer. The system is an IOT controlled Water & Fertilization Control system. Water Ways believes its IOT system is designed for the specific needs of Cannabis growers and cultivators worldwide.
The Company expects to deliver and install the systems by the end of Q1 2022.
Ohad Haber, Chairman and Chief Executive Officer, commented, “The orders for our know-how are on the rise. The Israeli market for medical Cannabis cultivation is string to adopt our solution as an industry standard.”
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bc768f9f-0d6b-4f8b-8bd8-1cdfc3ea8a0a
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.
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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.