OTTAWA,
April 30, 2014 /CNW/ - Clearford
Industries Inc. ("Clearford" or the "Company"), (TSX-V: CLI), today
announced it has entered into a 30 year agreement to build, own and
operate the water treatment, water distribution, wastewater
collection and wastewater treatment systems at Fetherston Mobile
Park ("Fetherston") near Kempville in North Grenville, Ontario.
Services will be provided initially for up to 41
residential lots. The infrastructure installed will be capable of
expansion to accommodate a further 100 residential lots. During the
past year, orders from the Ministry of Environment had required the
Municipality of North Grenville to
take actions for health and safety reasons since the majority of
the current infrastructure in place for the collection of
wastewater is malfunctioning.
Clearford, through its wholly owned subsidiary
Clearford Water Utility (Fetherston) Inc. will fund, install, and
contract for operation of the Park's entire water and wastewater
infrastructure. This will be the first installation in
Canada of Clearford One™, the
company's proprietary unified sanitation system. Clearford One™
will be configured to meet the needs of the Park using Clearford's
ClearDigest™ smart digesters at each residence, connected by the
SBS® ClearConvey™ small bore sewer system to a
ClearRecover™ treatment plant made by Newterra that will also
include the Hallett Ultraviolet purification system. Clearford will
enter into a 30 year contract with the Fetherston Mobile Park
Association to operate the infrastructure. The initial value of the
contract is approximately $3 million
over its 30 year life.
The Municipality of North Grenville, in cooperation with Clearford
Industries Inc., the Fetherston Mobile Park Association, ASI Group
Ltd. of St. Catharines and
Newterra Ltd. of Brockville have
worked diligently to find a unique solution which would allow the
residents to revitalize the Park and maintain their homes.
In addition to the agreement with the Fetherston
Mobile Park Association, Clearford will enter into an agreement
with ASI Group Ltd. to be the overall responsible operator for the
site, with Newterra Ltd. to provide a "state of the art" wastewater
treatment plant and with UV Pure Technologies Inc. to provide the
Hallett Ultraviolet disinfection system.
"We are very excited to have the opportunity to
bring together the products and skills of four of Ontario's leading water companies to provide
Fetherston a state-of-the-art decentralized water and wastewater
system. We believe this is an excellent solution for privately
owned and operated water distribution and sewage treatment services
in Canada," said Clearford
President and CEO Kevin
Loiselle.
The agreements are subject to certain conditions
including approvals from the Ministry of Environment and transfer
of ownership of the land from the trustee to provide security to
the municipality and Clearford for the new infrastructure costs.
Subject to these conditions, construction of the new system is
expected to start this summer and be completed this year.
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 Industries Inc.
Clearford Industries Inc. (TSX-V: CLI) is a provider of unified
water management and sanitation systems.
ClearfordOne™ is based on Clearford's
proprietary ClearDigest™ smart digester, SBS® ClearConvey™ small
bore sewer, and ClearRecover™ treatment facilities customized to
meet the requirements of each location.To learn more about the
Company, please visit www.clearford.com.
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 managements 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 Industries Inc.
