Gray Creek Mining Inc. Acquired by Budget Waste Inc.admin
Gray Creek Mining Inc. announces that effective November 10, 2008, it has acquired from Budget Waste Inc., a Nevada corporation its wholly owned subsidiary, Budget Waste Inc., an Alberta corporation, which holds and controls 100% of BWI’s assets and business operations, for approximately 52% of the outstanding shares of common stock of Gray Creek in a share exchange transaction. The effect of the transaction is that BWI has taken control of Gray Creek in a reverse transaction such that Budget Alberta has become a wholly owned subsidiary of Gray Creek.
Gray Creek will be immediately changing its name to “BWI Holdings, Inc.” and will continue to trade under the symbol GYCK until a new symbol is assigned by NASDAQ after the name change. It will continue to operate as “Budget Waste” in Canada.
BWI will distribute to its shareholders as a liquidating distribution all of the Gray Creek shares it acquired in this transaction, following which Gray Creek will be a stand-alone corporation controlled by BWI’s shareholders, and continuing the business and operations of Budget Waste unabated and unchanged. The new board of directors of Gray Creek is comprised of Jim Can, Kendall Dilling, and Robert Baker, the same board of directors of BWI. Jim Can is the new CEO of Gray Creek, and Bruce Milroy, BWI’s CFO, is now the new CFO of Gray Creek.
Budget Waste Inc. is a waste solutions company in Western Canada providing complete waste and recycling services to commercial, industrial, construction, homebuilding, oilfield and residential clients. With our broad range of innovative services we offer our customers more value for their dollar and reduce accounting costs by providing streamlined billing. BWI is currently following its growth through acquisition strategy with exceptional success. With regulations throughout North America pressing companies and individuals to be more vigilant in the way they handle their waste products we see vast opportunity for expansion of our distinctive services. We are confidant that Extraordinary growth and focus on customer needs will bring our stockholders outstanding value for the confidence they have placed in BWI.