OTTAWA, March 1, 2016 /CNW Telbec/ - Clearford Water
Systems Inc. ("Clearford" or the "Company"), (TSXV: CLI), a
provider of unified water management and sanitation systems, today
announced that it has started construction of Phase Two of its
Cayunda project through its wholly owned subsidiary in Colombia.
Under the terms of the agreement with the developer, Clearford
will begin construction this month of the second of three phases in
Cayunda to deliver additional services with its Clearford
OneTM system. The value of Phase Two is approximately
$250,000 and is expected to be
completed by the end of the Company's third quarter in 2016. Phase
Two includes adding servicing for 25 new homes to the existing 45
homes and adding servicing to the event areas within the
development. Phase three will add the final 45 homes to
complete the development of 115 houses.
The Bosques de Granada y
Cayunda (www.bosquesdegranadaycayunda.com) is a luxury development
located on the western slope of the valley of the Teusaca River, 26
km from Bogota. The development is
a green community designed to have minimum environmental impact,
with 70% of the community covered by native forest. Unique aspects
of the project include complete recycling of all waste water and
harvesting of rain water to augment fresh water supply.
Clearford completed the servicing of Phase One, a $1.3 million contract, in 2014. The project
includes a Clearford OneTM system with a structured
wetland as the ClearRecoveryTM component, potable and
reuse water distribution networks, and storm water management
networks and related infrastructure.
"We are pleased to report the start of the second phase of this
project which allows Clearford to demonstrate the flexibility of
phased installation of the Clearford One™ system with new
developments", said Kevin Loiselle,
President and CEO of Clearford. "The results of our system
performance in Phase One has proven the viability of our system in
international markets. In addition to Colombia, Clearford is in the process of
completing its first full installation in Jambudiyapura,
India which is expected to be
commissioned by the end of March of this year and is expected to
generate future contracts in India
as customers will be able to visit a village fully serviced by our
Clearford OneTM system."
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
About Clearford Water Systems Inc.
Clearford Water
Systems Inc. a 2016 TSX Venture 50 company (TSX-V: CLI) is a
provider of unified water management and sanitation systems based
on Clearford One™. Clearford One™ is a proprietary system comprised
of ClearDigest™ smart digester, ClearConvey™ small bore sewer, and
ClearRecover™ final treatment facility. For additional information
about Clearford Water Systems, please visit www.clearford.com
"The TSX Venture 50TM are the top 10 companies listed
on the TSX Venture Exchange, in each of five major industry sectors
– mining, oil & gas, clean technology & life sciences,
diversified industries and technology – based on a ranking formula
with equal weighting given to return on investment, market cap
growth, trading volume and analyst coverage. All data was as of
December 31, 2015."
Forward Looking Statements
This news release contains
certain statements that constitute forward-looking statements as
they relate to the Company and its management. Forward-looking
statements are not historical facts but represent management's
current expectation of future events, and can be identified by
words such as "believe", "expects", "will", "intends", "plans",
"projects", "anticipates", "estimates", "continues" and similar
expressions. Although management believes that the expectations
represented in such forward-looking statements are reasonable,
there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions
and are subject to inherent risks and uncertainties that could
cause actual future results, conditions, actions or events to
differ materially from those in the forward-looking statements. If
and when forward-looking statements are set out in this news
release, Clearford will also set out the material risk factors or
assumptions used to develop the forward-looking statements. Except
as expressly required by applicable securities law, the Company
assumes no obligation to update or revise any forward-looking
statements. The future outcomes that relate to forward-looking
statements may be influenced by many factors, including, but not
limited to: industry cyclicality; the ability to secure third party
agreements; successful integration of Clearford's system with third
party technology; competition; reduction in demand for products;
collection from customers; relationships with suppliers; product
liability; intellectual property; reliance on key personnel;
environmental; interest rates; uninsured and underinsured losses;
operating hazards; risks of future legal proceedings; income tax
matters; credit facilities; availability and terms of financing;
distribution of securities; restrictions on potential growth;
effect of market interest rates on price of securities; and
potential dilution.
SOURCE Clearford Water Systems Inc.
