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Water Now, Inc. Announces Indefinite Postponement of Special Shareholder Meeting for Sale of Assets

Written by Customer Service on . Posted in Public Companies.

Fort Worth, TX, Nov. 24, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Water Now, Inc. (OTC: WTNW) announced today that it has indefinitely postponed the special meeting of its shareholders, which was scheduled for November 25, 2020 (the “Special Meeting”), to, among other things, consider and vote on various proposals necessary to close the previously announced Asset Purchase Agreement (the “Agreement”), dated July 31, 2020, with RigMax H2O, LLC, a Texas limited liability company (the “Buyer”), and RigMax, LLC, a Texas limited liability company, pursuant to which the Buyer will acquire substantially all of the Water Now’s assets. 
The postponement of the Special Meeting is necessary as Water Now has been advised that the Buyer is currently unable to fund the purchase price as contemplated by the Agreement and Water Now has in turn exercised its right to unilaterally terminate the Agreement.  Water Now continues to evaluate the matter and will provide additional information as it becomes available.  About Water Now, Inc.Water Now, Inc. headquartered in Fort Worth, Texas, is engaged in the business of providing water purification solutions. For additional information about Water Now, Inc., please visit our website at http://www.waternowinc.com.

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