EARTHWORKS TO CLOSE FIRST TRANCHE OF PRIVATE PLACEMENT

Cision Canada

22-05-2025

VANCOUVER, BC, May 22, 2025 /CNW/ - Earthworks Industries Inc. (the "Company"), in a release dated April 1, 2025, announced its offering of 7,500,000 Units at $0.05 per Unit to raise $375,000. The Company proposes to close a first tranche of 5,270,000 Units - for which it has received gross proceeds of $263,500 – subject to acceptance by the TSX Venture Exchange.
The Company further reports that its wholly owned U.S subsidiary, Cortina Integrated Waste Management Inc. (CIWM), has received an updated Order from the United States District Court for the Eastern District Court of California establishing the briefing and argument schedule for the Motion for Summary Judgement that the U.S. Interior Department filed seeking dismissal of CIWM's Complaint challenging the Interior Department's purported termination of its Cortina lease in California. The court set October 27, 2025, as the hearing date for that Motion, and approved the following briefing schedule:
Federal Defendants' Opposition/Cross Motion June 30, 2025
Defendant-Intervenor's Opposition/Cross Motion June 30, 2025
Plaintiff's Reply/Opposition August 8, 2025
Federal Defendants' Reply September 5, 2025
Defendant-Intervenor's Reply September 5, 2025
Management is pleased with the progress we have made to date, and we remain optimistic about the successful resolution of issues at Cortina. We look forward to continuing to develop Cortina as the model for future environmentally responsible disposal operations.
Forward Looking Statements:
This news release contains "forward-looking information" and "forward-looking statements" (collectively 'forward-looking statements") within the meaning of the applicable Canadian securities regulations. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objective assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company or CIWM to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the "Risks and Uncertainties Statement" attached to this news release. Forward- looking statements contained herein are made as of the date of this News Release. The Company will update these forward-looking statement and Risks and Uncertainties as required to reflect new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on our forward-looking statements.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.
SOURCE Earthworks Industries Inc.