Green Impact Partners Announces Progress on Its Water and Recycling Facilities Sale; Provides Corporate Update
Calgary, Alberta--(Newsfile Corp. - May 30, 2025) - Green Impact Partners Inc. (TSXV: GIP) ("GIP" or the "Company") announced today an update on the sale of the Company's water, waste treatment and recycling facilities, as well as provides an update on recent corporate activities, including changes to its Board of Directors, and an update on the GreenGas Colorado JV.
Water and Recycling Facilities Sale Update
As previously announced, on May 21, 2025, GIP entered into a definitive agreement for the sale of its water, waste treatment, and recycling facilities located in Alberta and Saskatchewan, for total proceeds of $53.25 million, subject to working capital adjustments. GIP is pleased to report it has received further confirmation from the Purchaser regarding funding and expects to close the transaction on or before June 30, 2025. Completion of the transaction remains subject to the satisfaction or waiver of certain customary closing conditions, including the approval of the TSX Venture Exchange.
"We look forward to closing this transaction by the end of June, allowing us to turn our full focus to advancing the Future Energy Park - a project that will deliver long-term value at a scale far beyond our current business," said Jesse Douglas, CEO of GIP.
Corporate Activities
Effective May 28, 2025, and May 29, 2025, David Spivak, and Natascha Kiernan, Jeff Hunter and Alicia Dubois, respectively, resigned from the Board of Directors of the Company.
Looking ahead, GIP is pleased to welcome two accomplished professionals to its Board of Directors, effective May 30, 2025, bringing with them extensive experience and valuable perspectives as the Company moves into an exciting new chapter.
Ahmed Kassongo joins the Board with over 20 years of leadership in finance, analytics, and investment management across both public and private sectors. He brings a strong track record of working with institutional investors and government bodies on complex financial strategies and data-driven policy.
During his tenure at Alberta Investment Management Corporation (AIMCo), Ahmed played a pivotal role in delivering transparent and actionable financial reporting and investment performance analysis for some of Canada's largest pension and endowment funds. His client-first approach strengthened alignment between investment outcomes and long-term strategic goals. Ahmed has advised the Government of Saskatchewan's Ministry of Energy and Resources on energy-sector policy development, contributing to evidence-based decision-making at the provincial level.
As GIP continues to scale, Ahmed's deep expertise in financial operations, reporting, and governance - along with his ability to navigate both regulatory and investment landscapes - will be a significant asset to the Board. Mr. Kassongo will serve as Chair of the Audit Committee of the Board of Directors.
Alex Langer is a public markets specialist with over 20 years of experience in equity financing across a range of sectors, including mining, pharmaceuticals, and green technology. Throughout his early career at Canaccord Genuity, he played a key role in funding more than 100 private and public companies. Alex was instrumental in the initial $100 million capitalization of GIP and remains a founding and supportive shareholder.
As Vice President of Capital Markets, Alex was a driving force behind the success of Millennial Lithium and Prime Mining, securing international financial backing and establishing key industry partnerships. He currently serves as Chief Executive Officer and President of Sierra Madre Gold & Silver, and as President of Li-FT Power, where he continues to apply his capital markets expertise to advance resource-focused companies. Mr. Langer will serve as Chair of the Board of Directors.
"We're thrilled to welcome Ahmed and Alex to the Board, guiding and supporting the continued advancement of our biofuels platform," said Jesse Douglas. "Their deep expertise in finance, capital markets, and strategic growth comes at a pivotal time for our company. We are working to continue expanding our Board with complementary experience to support GIP's momentum and ensure strong, effective governance through this next phase of our growth."
GreenGas Colorado JV Update
GIP advises it has received a Default Notice (the "Notice") from US Infrastructure Investments Holdings LLC ("US Infra") in respect of the Seventh Amended and Restated Limited Liability Company Agreement ("LLCA") of GreenGas Colorado, LLC ("GGCO"), dated as of June 27, 2024. GGCO holds the Company's renewable natural gas facility in Colorado.
The Notice alleges that the Company's subsidiary, Green Impact Partners U.S. Inc. ("GIPUS"), has committed a default under the LLCA and is attempting to exercise its alleged rights under the LLCA.
GIP is disputing the validity of the Notice and the actions and is actively assessing all potential remedies and resolutions available to GIPUS. At this time, it is not possible to predict the outcome or the timing of the dispute resolution process, which has not currently commenced.
Readers are cautioned that this is an evolving situation and there is no assurance that GIPUS will be successful in resolving this dispute on favourable terms, which could have a material adverse effect on the Company.
About Green Impact Partners Inc.
Green Impact Partners is forging a path towards a sustainable future by turning waste into energy. With a focus on renewable natural gas (RNG) and bioenergy projects, our mission is to acquire, develop, construct, and operate facilities that not only produce energy but also play an important role in waste reduction and lowering emissions. Our comprehensive approach spans the entire project life cycle, from idea generation through construction to ongoing operations. In addition to our RNG and bioenergy projects, GIP maintains a current portfolio of water and solids treatment and recycling facilities in Canada, alongside a solids recycling business in the United States.
Traded on the TSX Venture Exchange under the symbol 'GIP', the Company invites you to join us in our journey. For more information about the Company, please visit www.greenipi.com.
Investor & Analyst Inquiries:
Nikolaus KieferChief Investment Officer(236) 476-3445investors@greenipi.com
Media Inquiries:
media@greenipi.com
Cautionary Statements
This news release contains forward-looking statements and/or forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. When used in this release, such words as "would", "will", "anticipates", believes", "estimates", "explores" "expects" and similar expressions, as they relate to GIP, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of GIP with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause GIP's actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements. Certain information and statements contained in this news release constitute forward-looking statements, which reflects the Company's current expectations regarding future events, including, but not limited to: the closing of the Company's sale of its water, waste treatment, and recycling facilities; the Company's ability to challenge the Notice and retain its ownership position in GGCO.
Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the high degree of uncertainties inherent to feasibility and economic studies which are based to a significant extent on various assumptions; variations in commodity prices and exchange rate fluctuations; variations in cost of supplies and labour; lack of availability of qualified personnel; receipt of necessary transaction and project approvals; availability of financing for project development; uncertainties and risks with respect to developing RNG projects; general business, economic, competitive, political and social uncertainties; change in demand for clean energy to be offered by the Company; obtaining required approvals of regulatory authorities; ability to access sufficient capital from internal and external sources. For a more fulsome list of risk factors please see the Company's December 31, 2024, year-end Management Discussion and Analysis ("MD&A"), and AIF available of SEDAR+ at www.sedarplus.ca.
Management of the Company has included the above summary of assumptions and risks related to forward-looking statements provided in this release to provide shareholders with a more complete perspective on the Company's current and future operations and such information may not be appropriate for other purposes. The Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements included in this news release should not be read as guarantees of future performance or results. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254095
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