CHARLESTON, S.C., June 29, 2006 (PRIMEZONE) -- Wastech, Inc. (Pink Sheets:WTCH) (the "Company"), today announced a $1.7 Million deal to acquire approximately 600 acres of mineral rich property in southern Illinois. The Company would not yet define the exact location of the property prior to closing, however will disclose that the property will be the subject of a coal reclamation, refining and combustible fly ash storage operation, over a 10-12 year period, yielding gross revenues, exclusive of tax credits and integrated alternate energy prospects, of $13-16 Million.
Wastech plans a more detailed press release prior to the close of business today.
About the Company
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.