OTTAWA,
June 19, 2014 /CNW/ - Clearford
Industries Inc. ("Clearford" or the "Company"), (TSXV:CLI), held
its annual meeting of shareholders in Ottawa Today.
At the meeting, shareholders re-elected its
Board of Directors and approved the appointment of Deloitte LLP as
its auditor. Shareholders also approved a change in the Company's
name to Clearford Water Systems Inc.. The company intends to make
the necessary filings in the coming days for an effective date of
July 1st. The name change
is subject to approval of the TSX Venture Exchange.
The name Clearford Water Systems reflects the
business focus based on Clearford One™, the unified sanitation
system comprised of ClearDigest™, SBS® ClearConvey™ and
ClearRecover™. Clearford One™ supports recovery of treated water
for reuse in toilets and other non-contact applications and the
sealed system allows potable water and other services to be
installed in a common channel with ClearConvey™. The now completed
system for a new community in Cayunda, Colombia and the recently announced contract
to deliver and operate the water and sanitation system for
Fetherston, Ontario represent the
focus of Clearford Water Systems.
Clearford One™ is being well received in
Ontario for servicing smaller
towns now using septic tanks and for residential developments
that are outside convenient connection to established water and
sewage systems, including resort communities, subdivisions and
mobile home and recreational vehicle parks. Several such
opportunities are now in discussion reflecting the Fetherston model
of full water and wastewater services.
The greatest demand and most immediate response
are in countries where significant portions of the population are
without sanitation services. India
is the leading example of this demand. Several projects for
Clearford One™ are now in advanced stages of discussion with
potential customers.
Through the support of the Export Development
Corporation of Canada and the
Canadian Trade Commission in India, Clearford had opportunities to present
Clearford One™ to the World Bank and large infrastructure funds in
India to assist in the deployment
of meeting the water and wastewater needs of Indian rural
communities.
Clearford is currently in discussions to install
Clearford One™ in a rural village in the state of Jharkand under
the World Bank's Rural Water Supply & Sanitation (RWSS - LIS)
program. This RWSS program is aUS$1 billion water and sanitation
program undertaken by the Bank and the Government of India targeted to support water and sanitation
delivery in rural areas of four states. Many of these communities
are located in areas of water scarcity. Use of traditional sewage
collection and treatment systems is impractical in these areas.
Clearford One™ is designed to perform in water scarce situations
and Clearford is optimistic that current discussions with World
Bank and Indian officials will result in installation of the system
under the RWSS program. However, No agreements have yet been
concluded for delivery of Clearford One™ in India.
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. Clearford One™ 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.
For more information on Clearford, 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.
