Water Ways Technologies Inc. (TSXV:WWT) entered into an agreement to acquire 51% stake in Desarrollo de Sistemas Hidraulicos S.A. for $3.5 million on January 12, 2022. Water Ways Technologies Inc. shall pay $2 million in cash along with issuance of 5.68 million shares. Desarrollo de Sistemas Hidraulicos S.A generated Revenues, EBITDA, EBIT and Total Assets of $7.9 million, $0.8 million, $0.7 million and $3.8 million respectively. The transaction is subject to satisfactory completion of a due diligence review of Hidrotop, the determination of the appropriate structure of the transaction and execution of a definitive agreement relating to the transaction. The transaction is subject to the fulfillment of certain conditions precedent as are customary for transactions of this nature including the approval of the TSX Venture Exchange. The completion of the transaction is anticipated to be on or before February 28, 2022. The deal is expected to close by mid May, 2022 or such later date as may be mutually agreed upon between the parties. As of June 9, 2022, transaction is progressing in a positive manner and the parties are in final stages of negotiating the definitive terms of the purchase and sale. The parties expect to sign a definitive SPA on or prior to June 30, 2022. The SPA will provide that closing of the acquisition will be subject to certain conditions including the approval of the TSX Venture Exchange. As on August 23, 2022, that its board of directors has today approved the execution of a definitive agreement for the acquisition of 51% of the shares of the Chilean smart irrigation provider, Desarrollo de Sistemas Hidraulicos S.A. As of September 15, 2022, TSX Venture Exchange has accepted for filing documentation.

Water Ways Technologies Inc. (TSXV:WWT) cancelled the acquisition of 51% stake in Desarrollo de Sistemas Hidraulicos S.A. on February 8, 2023.