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TORONTO, Nov. 23, 2020 (GLOBE NEWSWIRE) — Water Ways Technologies Inc. (TSXV: WWT) (“Water Ways” or the “Company“), is pleased to announce that its 73% owned Chinese subsidiary, IRRI-AL TAL (Shanghai) Agriculture Technology Company Ltd. (“IRRI-AL TAL (Shanghai)”), has signed a contract to deliver and install a 200,000 sq./m turnkey irrigation project, for blueberries, in the Province of Yunnan in China. IRRI-AL TAL (Shanghai) is expected to deliver and install the project and recognize revenue partially during Q4 of 2020 and partially during Q1 of 2021. The total value of the order is approximately CAD$460,000. IRRI-AL TAL (Shanghai) signed the contract with a subsidiary of Driscoll (the “Client“), one of the largest berry growers operating in the world, controlling roughly one-third of the berry market. Water Ways expects to receive additional projects from the Client in 2021 assuming the successful installation in Q1.

Ohad Haber, Chairman and Chief Executive Officer, commented, “I am extremely pleased that we signed this first blueberries contract in China. We have gained a lot of know how in the growth and irrigation of blueberries. There is a large demand for technology and know how in the cultivation of blueberries and we are planning to position WWT as a leader in delivering irrigation technologies for the cultivation of blueberries.”

About Water Ways Technologies

Water Ways Technologies Inc., through its subsidiaries, is a global provider of Israeli based agriculture technology, providing water irrigation solutions to agricultural producers. Water Ways Technologies competes in the global irrigation water systems market with a focus on developing solutions with commercial applications in the micro and precision irrigation segments of the overall market. At present, Water Ways Technologies’ main revenue streams are derived from the following business units: (i) Projects Business Unit; and (ii) Component and Equipment Sales Unit. Water Ways Technologies is capitalizing on the opportunities presented by micro and smart irrigation, while also making a positive mark on society by making these technologies more widely available, especially in developing markets such as Africa and Latin America and developed markets such as China and Canada. Water Ways Technologies irrigation projects include vineyards, Cotton fields, Apple and Orange orchids, Blueberries, Medical Cannabis, fresh produce cooling rooms and more, in over 15 countries.

For more information, please contact

Ronnie Jaegermann

Director

T: +972-54-4202054

E: [email protected]

https://www.water-ways-technologies.com/

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.

Forward-Looking Statements

Certain statements contained in this press release constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions as they relate to Water Ways. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Water Ways’ current views and intentions with respect to future events, and current information available to Water Ways, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Water Ways in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Water Ways does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Water Ways undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. Water Ways’ results and forward-looking information and calculations may be affected by fluctuations in exchange rates. All figures are in Canadian dollars unless otherwise indicated.

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