Saint Simons Island, GA, April 02, 2024 (GLOBE NEWSWIRE) -- DEEP GREEN Waste & Recycling Inc. (OTC: DGWR) is pleased to release the following letter to shareholders which provides details on its recent performance highlights, service offerings and growth strategy going forward.
Dear Shareholder,
I am pleased to share with you the latest developments and achievements of DEEP GREEN Waste & Recycling Inc. over the past two months.
First and foremost, I would like to highlight the successful completion of a $2 million asbestos removal project at Vanderbilt University Medical Center in Nashville by our subsidiary, Lyell Environmental Services, Inc. (LES). This project not only represents the largest single abatement project in the history of DEEP GREEN but also demonstrates our commitment to environmental stewardship and positions our company for accelerated growth.
In addition to this significant milestone, we have also completed the sale of our wholly-owned subsidiary, DG Research Inc, dba AMWASTE, to Amwaste of Georgia, LLC for a purchase price of $175,000. This divestiture aligns with our ongoing efforts to optimize operations and concentrate on our core competencies in environmental safety, analysis, testing, remediation, and abatement services. It also significantly enhances our cash position, which will allow our company to capitalize on our hybrid strategy of organic growth and growth through synergistic acquisitions.
I am also delighted to announce that DEEP GREEN has successfully up-listed from the OTC Pink Sheets to the OTCQB® Venture Market, commencing trading on January 22, 2024, under the symbol "DGWR." This milestone will offer the company broader acceptance within the investment banking community and help us continue to raise the capital needed to achieve our acquisition goals.
Our financial performance has been equally impressive, with revenues increasing by 145 percent to a quarterly record of $902,987 in the third quarter of 2023, compared to $368,512 in the third quarter of 2022. This growth is attributed to robust organic growth and recent acquisitions, coupled with impressive net profits and prudent expense management. Most importantly, we believe we can be consistently profitable going forward which is rare for emerging growth companies.
Looking ahead, I want to emphasize that DEEP GREEN is dedicated to pursuing strategic opportunities to broaden its portfolio of environmental services and expand nationally. As a leading, vertically integrated waste management and remediation provider, we are well-positioned to capitalize on the growing demand for eco-friendly and compliant solutions to pressing environmental challenges faced by our customers.
Investors should anticipate DEEP GREEN pursuing additional acquisitions and adding new remediation services to complement its existing capabilities in the environmental remediation services markets, including the removal of toxic materials, such as mold, lead, radon, and asbestos, across both commercial and residential markets.
We remain committed to creating additional value for our shareholders as we work toward our ambition of being the recognized national leader in the waste, recycling, and remediation services industry.
Thank you for your continued support and confidence in DEEP GREEN Waste & Recycling Inc.
Sincerely,
Bill Edmonds
Chairman and CEO
DEEP GREEN Waste & Recycling Inc.
About DEEP GREEN Waste & Recycling, Inc.
DEEP GREEN Waste & Recycling, Inc. (OTC PINK:DGWR) is a waste, recycling and remediation services which provides sustainable waste, recycling, and remediation services, and helps commercial customers realize cost-savings using streamlined processes that help manage, reduce, and recycle waste streams. For more information, visit: https://DeepGreenWaste.com
About Lyell Environmental Services, Inc.
Lyell Environmental Services, Inc. is an established commercial environmental and ecological testing services company based in Nashville, Tennessee. With a strong focus on environmental protection and safety, the company offers a comprehensive range of services for commercial, institutional and residential properties, including environmental studies, hazardous substance testing, remediation, abatement, and removal. For more information, visit: https://www.lyellenvironmentalservices.com/
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
For information, please contact:
Bill Edmonds
DEEP GREEN Waste & Recycling, Inc.
260 Edwards Plz, #21266
Saint Simons Island, GA 31522
Phone: (912) 254-7889
Email: Investor@DeepGreenWaste.com
