Anaergia Comments on Prospective Class Proceeding

BURLINGTON, Ontario--(BUSINESS WIRE)--Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) (the “Company”) announced today that it has become aware that on March 27, 2023 a statement of claim was issued (under the Class Proceedings Act, 1992) in the Ontario Superior Court of Justice against the Company and others. The proceedings have been commenced by Mohammad Reza Kamrani-Ghadjar, who seeks an order for leave to proceed under the Securities Act (Ontario), certifying the proceeding as a class proceeding and appointing him as representative plaintiff. The proposed representative plaintiff claims damages and other relief pertaining to primary and secondary market financial disclosures and a proposed class period from June 7, 2021 to November 8, 2022. The claim has not yet been formally served on the defendants. The Company intends to vigorously defend against the claim.

About Anaergia

Anaergia was created to eliminate a major source of greenhouse gases by cost effectively turning organic waste into renewable natural gas ("RNG"), fertilizer and water, using proprietary technologies. With a proven track record from delivering world-leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the municipal solid waste, municipal wastewater, agriculture, and food processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements relating to the ability of our technologies and projects to address about two-thirds of all point source methane emissions and our business plans, growth strategies and ESG initiatives. Forward-looking information is based on a number of assumptions and 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, the factors discussed under "Risk Factors" in the Company's annual information form dated March 28, 2022 for the fiscal year ended December 31, 2021. Actual results could differ materially from those 89projected 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.

For further information please see: www.anaergia.com