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

BURLINGTON, Ontario , March 29 /Businesswire/ - Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) announced today that there will be a 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 as required by National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings (collectively, the “Required Documents”) beyond the April 1, 2024 filing deadline.

Due to delays in the financial reporting process stemming from accounting and financial reporting impacts associated with the restructuring activities and transformation of the Company during the 2023 year, Anaergia’s audit will take additional time. The Company is working diligently to facilitate the completion of the audit of the annual consolidated financial statements by Deloitte LLP and will be in a position to file the Required Documents on or about April 15, 2024.

The Company anticipates that the OSC will impose a failure to file cease trade order (“CTO”) pursuant to National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. A CTO would prohibit 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. Once issued, the CTO will remain in place until such time as the Required Documents are completed by the Company.

Anaergia will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports, if necessary, in the form of news releases for so long as it remains in default of the above-noted filing requirements. Anaergia confirms that there are no insolvency proceedings to which it is subject and there is no other material information relating to its affairs that has not been generally disclosed. Other than as disclosed herein, Anaergia is up to date in its filing obligations.

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 estimated filing date of the Required Documents and the imposition of a CTO. Forward-looking information is based on a number of assumptions, including, but not limited to the Company’s ability to file the Required Documents by April 15, 2024 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 are filed later than anticipated, the risk that trading in the Company’s securities may halted by the Toronto Stock Exchange and/or cease traded temporarily by the Canadian securities commissions after the April 1, 2024 filing deadline until such time as the 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.

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