Greenwave To Begin Trading Under Ticker “GWAV” On March 28, 2022
Company on track to meet all stated NASDAQ listing requirements in March 2022
March 3, 2022
Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (OTCPink:MSRTD) is pleased to announce that it will begin trading under the ticker “GWAV” on March 28, 2022. Greenwave is currently trading with a “D” added to its ticker symbol for 20 business days following the effectiveness of a share consolidation on February 28, 2022. The Company expects to formally submit its application to uplist to a national exchange in the coming weeks, with its subsidiary, Empire Services, Inc. (“Empire”), generating approximately $27.5 million in revenue in fiscal year 2021.
Additionally, Greenwave is relocating to a new corporate headquarters, located at 4012 Raintree Road in Chesapeake, VA, ahead of the anticipated appointment of a seasoned Chief Financial Officer and the opening and/or acquisition of additional scrap metal facility locations.
“Greenwave is in the strongest financial position in its history, fully-funded following the completion of our recent $37.7 million financing, and is poised for rapid expansion,” stated Danny Meeks, Chief Executive Officer of Greenwave. “While share consolidations are never pleasant, it was necessary to meet the share price requirements of NASDAQ. We appreciate Greenwave’s shareholders’ continued trust as we continue to grow our revenues, expand our operational footprint, and create long-term and lasting value for our shareholders. We look forward to releasing our fiscal year 2021 financials in the coming weeks and our Q1 2022 financial results shortly thereafter.”
Greenwave expects to submit its application to uplist to NASDAQ in March 2022, with the goal of listing on a national exchange by June 2022. Empire is expected to open its 12th location in Fairmont, NC in March 2022 following the completion of renovations to its front office and the training of its staff.
Greenwave Technology Solutions, Inc., through its wholly owned subsidiary Empire Services, Inc. (“Empire”), is a leading operator of 11 metal recycling facilities in Virginia and North Carolina. At these facilities, Empire collects, classifies, and processes raw scrap metal (ferrous and nonferrous) for recycling. Steel is one of the world’s most recycled products with the ability to be re-melted and recast numerous times while offering significant economic and environmental benefits when compared with virgin materials. For more information, please visit https://www.greenwavetechnologysolutions.com/.
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about revenue growth, opening of additional locations, and a listing on a senior exchange. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in our filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.