- Water Ways (WWT) provides updates on its previously proposed acquisition of the Chilean Provider – Hidrotop
- The parties expect to sign a definitive SPA around June 30, 2022
- Earlier this year, Water Ways agreed to acquire over a 51 per cent stake in Desarrollo de Sistemas Hidraulicos SA
- Hidrotop has worked with Water Ways for many years, purchasing innovative irrigation components
- WWT’s primary source of revenue is derived from the projects business unit; and component and equipment sales unit.
- Water Ways Technologies Inc.’s (WWT) is up over 4.50 per cent, trading at C$0.23 at 12:28 pm EST
Water Ways Technologies’ (WWT) acquisition with Desarrollo De Sistemas Hidraulicos SA is progressing, and the parties are in the final stages of negotiating.
The parties expect to sign a definitive SPA around June 30, 2022.
The SPA will provide that the closing of the acquisition will be subject to certain conditions, including the approval of the TSXV.
Water Ways is an Israeli-based agriculture technology that provides water irrigation solutions to agricultural producers.
Earlier this year, Water Ways agreed to acquire over a 51 per cent stake in Desarrollo de Sistemas Hidraulicos SA.
As part of the agreement, Water Ways needed to pay $2M in cash and issuance of over 5M shares.
Hidrotop is an intelligent irrigation provider that designs, sources and installs smart irrigation and fertigation projects in Chile and Argentina.
It was founded in 1997, employs over thirty-five employees and has established more than 30,000 hectares of irrigation and fertigation projects.
Hidrotop has worked with Water Ways for many years, purchasing innovative irrigation components.
The company has a vast experience and knowledge in the South American irrigation market as well as developing special techniques using water technologies in the mining industry.
WWT competes in the global irrigation water systems market, focusing on developing solutions with commercial applications in the overall market’s micro and precision irrigation segments.
Currently, the company’s primary source of revenue is derived from the projects business unit; and component and equipment sales unit.
Water Ways Technologies Inc.’s (WWT) is up over 4.50 per cent, trading at C$0.23 at 12:28 pm EST.
