swsh_ex991
PRESS
RELEASE
SWISHER HYGIENE INC.
ANNOUNCES COMPLETION OF FINAL DISTRIBUTION TO STOCKHOLDERS
AND
COMPANY’S MOTION TO TERMINATE ITS EXISTENCE
FORT LAUDERDALE, FL – October 28, 2021 – Swisher
Hygiene Inc. (the “Company”) today announced the
completion of its final distribution to stockholders and the filing
of a motion with the Court of Chancery of the State of Delaware
(the “Delaware Court”) to terminate the Company’s
existence.
As
previously reported in a Current Report on Form 8-K, filed with the
Securities and Exchange Commission (the “SEC”) on
September 3, 2021, the Delaware Court approved a second and final
distribution to the Company’s stockholders of record as of
September 13, 2021, payable September 17, 2021, in the amount of
approximately US$2.096 million, calculated at the rate of US$0.1185
per share of the Company’s outstanding common stock, $.001
par value (“Common Stock”). The Company, through its
transfer agent TSX Trust Company, made the distribution on
September 17, 2021, after which the Company has no remaining
assets. Prior to August 31, 2021, the Company paid all outstanding
vendor bills and under the supervision of the Delaware Court
resolved all creditor claims.
On
October 14, 2021, the Company filed a motion to terminate its
existence with the Delaware Court, effective October 31, 2021 (the
“Termination Date”). This motion is pending and a
hearing on the motion has been set for November 5, 2021. Since May
27, 2016, the Company has been in dissolution and the
Company’s existence has been extended several times by the
Delaware Court to permit an orderly windup of the Company, most
recently extended until December 31, 2021. The Company’s
motion, if granted, will accelerate the Company’s termination
from December 31, 2021 to the Termination Date or such other date
determined by the Delaware Court. As part of the Company’s
termination, the Company’s directors and officers, other than
the Company’s Chairman, have submitted their resignations
effective on the Termination Date. The Company’s Chairman
will remain on the board until the completion of all remaining
ministerial actions related to the Company’s termination.
Promptly following the termination of the Company’s
existence, the Company intends to file a Form 15 with the SEC, as
required by a no-action letter dated August 5, 2016 issued to the
Company by the SEC, terminating the registration of its common
stock.
In the event any stockholder wishes to update its mailing address
or does not receive a distribution as expected and wishes to have a
check reissued, it should contact the Company’s Transfer
Agent, TSX Trust, by email at
tmxeinvestorservices@tmx.com, or by telephone 1-866-600-5869
(in North America) or 416-342-1091 (International). Failure to
contact the Transfer Agent on or prior to the fifth anniversary of
the September 13, 2021 record date for the distribution will result
in forfeiture of any entitlement to payment of the distribution
that would otherwise be payable to such
stockholder.
Cautionary Statement on Forward-Looking Information
All
statements other than statements of historical fact contained in
this press release constitute "forward-looking information" or
"forward-looking statements" within the meaning of the U.S. federal
securities laws and the Securities Act (Ontario) and are based on
the expectations, estimates and projections of management as of the
date of this press release unless otherwise stated. All statements
other than historical facts are, or may be, deemed to be forward
looking statements. The words "plans," "expects," "is expected,"
"scheduled," "estimates," or "believes," or similar words or
variations of such words and phrases or statements that certain
actions, events or results "may," "could," "would," "might," or
"will be taken," "occur," and similar expressions identify
forward-looking statements.
Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Company as of
the date of such statements, are inherently subject to significant
business, economic and competitive uncertainties and
contingencies. All of these assumptions have been
derived from information currently available to the Company
including information obtained by the Company from third-party
sources. These assumptions may prove to be incorrect in whole or in
part. All of the forward-looking statements made in this
press release are qualified by the above cautionary statements. The
forward-looking information set forth in this press release is
subject to various assumptions, risks, uncertainties and other
factors that are difficult to predict and which could cause actual
results to differ materially from those expressed or implied in the
forward-looking information. The Company disclaims any intention or
obligation to update or revise any forward-looking statements to
reflect subsequent events and circumstances, except to the extent
required by applicable law.
For Further Information regarding stockholders’
distributions, Please Contact the Company’s Transfer
Agent:
TSX Trust Company
Email:
tmxeinvestorservices@tmx.com
Telephone 1-866-600-5869 (in North America) or 416-342-1091
(International)