ARLINGTON, TEXAS, Nov. 26, 2019 (GLOBE NEWSWIRE) -- Greenway Technologies, Inc. (OTCQB: GWTI) (the “Company”), an advanced gas-to-liquids (“GTL”) technology development company, today confirmed that a special shareholders meeting is scheduled for December 11, 2019, to be held at the Hilton Hotel, 2401 East Lamar Boulevard, Arlington, Texas, starting at 10:30 a.m. (CT). All shareholders of record as of October 29, 2019, have been mailed their proxy materials. Please review carefully the instructions on the proxy card regarding your voting options. All votes by proxy must be received by 11:59 p.m. (CT) December 10, 2019. Votes may be cast online: www.proxypush.com/GWTI or by telephone: 866.390.5236. Additional information may be found on the Company’s Proxy Statement DEF14A previously filed with the SEC on November 19, 2019.
Shareholders, their proxy holders and Greenway-invited guests may attend the Special Meeting. If you are planning to attend, please bring your photo identification, and, for any stockholder-owned shares that are owned and held in street name, please bring the authorized bank or broker statement showing such beneficial ownership the Greenway shares in order to be able to vote these shares at the meeting. Registration will start at 9:00 a.m. (CT).
Legal Matters Update
On November 19, 2019, an Agreed Order of Dismissal Without Prejudice was entered in each of two lawsuits filed on March 13, 2019, by Richard Halden and Chisos Equity Consultants LLC, a company controlled by Halden. The Orders were filed in the District Courts of Tarrant County, Texas, 352nd and 67th Judicial District respectively. The Orders each provided that any and all claims, counterclaims, and causes of action brought by the respective parties or which could have been brought by the respective parties in the proceedings were dismissed without prejudice to re-filing same; and that all costs incurred are the responsibility of the incurring party.
On March 26, 2019, the Company filed for Declaratory Judgement and Ex Parte Application for a Temporary Restraining Order and Application for Injunctive Relief against the members of a dissident shareholders group (including Richard Halden) named the “Greenway Shareholders Committee” in Dallas County. A Temporary Restraining Order was issued by the Court on April 8, 2019, to continue until the trial date of December 10, 2019. On November 18, 2019, the parties submitted an agreed proposed Order to the Court which dismisses all claims between the parties. At this time, the parties are waiting for the Court to enter the Order, which is expected imminently.
About Greenway Technologies, Inc.
Based in Arlington, Texas, the Company is engaged in the research and development of proprietary gas-to-liquids syngas conversion systems and micro-plants that can be scaled to meet specific gas field production requirements. The company’s patented and proprietary technologies have been realized in its first commercial G-Reformer™ unit, a unique component used to convert natural gas into synthesis gas, which when combined with a Fischer-Tropsch reactor and catalyst, produces fuels including gasoline, diesel, jet fuel and methanol. G-Reformer units can be deployed to process a variety of natural gas streams including pipeline gas, associated gas, flared gas, vented gas, coal-bed methane and/or biomass gas. When derived from any of these natural gas sources, the liquid fuels created are incrementally cleaner than conventionally produced oil-based fuels. For more information about Greenway Technologies, visit gwtechinc.com.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend,” or similar expressions or statements regarding intent, belief, or current expectations, are forward- looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based only on information available to the Company as of the date of this release. Any such forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events, or otherwise, except as required by law.
Investors & Analysts Contact:
Greenway Investor Relations
800-289-2515
SEC filings can be found at:
http://gwtechinc.com/SEC-filings/