Anaergia Announces Extended Delay in the Filing of Its Audited Financial Statements and Related Disclosures

BURLINGTON, Ontario–(BUSINESS WIRE)–Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) announced today that there will be a longer than previously anticipated delay in the filing of its annual information form for the year ended December 31, 2023, audited annual consolidated financial statements for the year ended December 31, 2023, the related management’s discussion and analysis of financial condition and results of operations and CEO and CFO certificates relating to the audited annual financial statements (collectively, the “Required Documents”).

Deloitte LLP and the Company are continuing to work on the completion of the Required Documents but the timing of the filing of these documents is uncertain. The Company anticipates that it will be in a position to file the Required Documents in the first half of June 2024.

Given the delay in filing the Required Documents, Anaergia expects subsequent delays in: (A) the filing of its interim financial statements for the three months ended March 31, 2024, the related management’s discussion and analysis of financial condition and results of operations and CEO and CFO certificates relating to the interim financial statements (collectively, the “Interim Required Documents”); and (B) the holding of its 2024 annual general and special meeting of shareholders (the “Annual Meeting”). Given the delays, the Company anticipates that it will be in a position to file the Interim Required Documents shortly after the Required Documents, and that the Annual Meeting would occur in late July 2024.

As previously disclosed, the Ontario Securities Commission has imposed a failure to file cease trade order (“FFCTO”) pursuant to National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. The FFCTO prohibits the trading by any person of any securities of the Company in Canada, including trades in the Company’s common shares made through the Toronto Stock Exchange. The FFCTO will remain in place until such time as the Required Documents and the Interim Required Documents are completed by the Company.

About Anaergia

Anaergia was created to eliminate a major source of greenhouse gases (“GHGs”) by cost effectively turning organic waste into renewable natural gas (“RNG”), fertilizer and water through the use of proprietary technologies. With a track record of delivering innovative projects, Anaergia is uniquely positioned to provide solutions to today’s most pressing resource recovery challenges using a broad portfolio of proven technologies and multiple project delivery methods. Anaergia is one of the world’s only companies with a proprietary portfolio of end-to-end solutions that integrate solid waste processing as well as wastewater treatment with organics recovery, high efficiency anaerobic digestion, RNG production and recovery of fertilizer and water from organic residuals. The combination of these technologies enhances carbon-negative biogas, clean water and natural fertilizer production, utilizes a minimized footprint and lowers waste and wastewater treatment costs and GHG emissions.

For further information please see: www.anaergia.com

Forward-Looking Statements

This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects Anaergia’s current expectations regarding future events, including but not limited to, statements regarding the filing of the Required Documents and the Interim Required Documents and the timing thereof, the timing of the Annual Meeting and the disposition of the FFCTO. Forward-looking information is based on a number of assumptions, including, but not limited to the Company’s ability to file the Required Documents and the Interim Required Documents, and the Company’s ability to meet its financing and liquidity requirements on a continuing basis. The Company is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, but are not limited to, the risk that the Required Documents and the Interim Required Documents are filed later than anticipated, and that trading in the Company’s securities remains halted by the Toronto Stock Exchange until such time as the Required Documents and the Interim Required Documents are filed, counterparty risk exposure and the factors discussed under “Risk Factors” in the Company’s annual information form for the fiscal year ended December 31, 2022, and under “Risks and Uncertainties” in the Company’s most recent management’s discussion and analysis. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws. Additional information on these and other factors that could affect Anaergia’s operations or financial results are included in Anaergia’s reports on file with Canadian regulatory authorities.

Contacts

For media and/or investor relations please contact: IR@Anaergia.com