Budget Waste Inc. (“BWI”) (PINKSHEETS: BDGW) reconfirms that the record date for the distribution of the 5,496,054 shares of BWI Holdings, Inc (OTCBB: BWIH), formerly known as Gray Creek Mining Inc., that BWI received from the sale of Budget Waste Inc., Alberta to Gray Creek, as announced recently, will be November 14, 2008. The Ex-Dividend date has not yet been established but will be announced shortly.
As previously announced, the Record date established for the distribution of Grey Creek shares is Nov 14, 2008. Every shareholder of record as of that date will be entitled to receive one (1) Gray Creek share for each twenty (20) BWI shares. All Gray Creek shares are restricted and may be re-sold by the holders only pursuant to Rule 144.
Since the Ex-Dividend date (“Ex Date”) has not yet been confirmed with NASDAQ, BWI does not have a firm date by which the Gray Creek shares will be distributed to its shareholders.
BWI is currently in the process identifying a new merger candidate or new company to acquire by reverse acquisition in order to continue business as an operating entity. At this time, BWI has no assets (other than the Gray Creek stock that it will be distributing shortly) or operations and can be considered for the time being a “shell” company. Anyone may purchase or dispose of BWI shares at their own discretion and risk.
When BWI’s board of directors has determined the best successor business to BWI, a public announcement will be made.