CHARLESTON, S.C., June 26, 2006 (PRIMEZONE) -- Wastech, Inc. (Pink Sheets:WTCH) (the "Company"), today announced that the Company and a local investment firm, Professional Services, Inc., or its assigns (the "Firm") have agreed to contribute an additional $150,000 to its recently announced stock repurchase program (the "Investment Agreement").
Pursuant to the Investment Amendment, among other things, the Firm will contribute the additional funding pursuant and subject to the same terms and conditions as those announced earlier today with Environmental Energy Services, Inc. (Pink Sheets:EESV).
Mr. Richard D. Tuorto, Chairman of the Board of the Company commented: "Today has been a giant step forward as the Company works toward increasing shareholder value without impacting its business and operations. We thank the generous contributions of the Firm and EESV, and plan similar, beneficial transactions in upcoming releases."
Wastech, Inc. is an Oklahoma-based, public holding company, with investments in energy assets and proprietary waste management technologies, specializing in alternate means of collecting, transporting, and disposing of liquid and solid bearing wastes, as well as integrated waste to energy programs, utilizing environmentally friendly, cutting-edge conversion systems. Wastech currently utilizes 8 patents in its business pursuits, and owns approximately 50,000 acres of coal, coal-bed methane, and oil and gas rights across the mineral rich state of West Virginia.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release which are not historical facts may be "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe Wastech's hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond Wastech's control, will affect actual results. Wastech undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with Wastech's annual report on Form 10-KSB for the fiscal years ended December 31, 2002, 2001 and other filings with the U.S. Securities and Exchange Commission.