Chartwell, Rail Waste Holdings, Agree to Merger

Chartwell International, Inc. has signed a letter of understanding with Rail Waste Holdings, LLC, pursuant to which the parties agreed to proceed in merger negotiations. The letter of understanding proposes that Chartwell effects a tax-free merger by acquiring all of the outstanding membership interests of RWH in exchange for the issuance of shares of common stock of Chartwell.

RWH’s CEO, Andrew Kaufman commented: "The waste industry is at an inflection point that has created an enormous opportunity for rail-based transportation and logistics services. RWH is an operating company with four business divisions: E-Rail Logistics, Ohio Rail Services, RW Recycling, and RW Equipment Sales. These business units are interrelated and enable RWH to offer fully integrated waste disposal solutions to a wide array of customers. The proposed merger with Chartwell will facilitate execution of our business strategy."

Chartwell International, Inc. is a holding company focused on the natural resources and environmental industries, including related infrastructures, and evaluates opportunities for expansion within those industries through acquisition or other strategic relationships that focus on waste by rail services, logistics, equipment, transportation and disposal options, including landfill management.