OTTAWA, June 2, 2015 /CNW/ - Clearford Water
Systems Inc. ("Clearford" or the "Company"), (TSX-V: CLI), today
announced that it has paid its annual interest to its lender on its
loan in the principal amount of $9,560,000 which was deferred until May 30, 2015 as previously announced on
April 16, 2015.
The Company has also entered into a new $1,000,000 short-term bridge loan to allow it to
complete its capital restructuring as previously announced at the
same time which is expected to provide funds for debt servicing and
working capital as operations move to profitability.
The Company has also cancelled its services agreement with
Renmark Financial Communications Inc. ("Renmark") effective
June 1, 2015. Renmark was providing
investor relations services to the Company. The agreement was
previously announced on December 2,
2014.
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. (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, SBS® ClearConvey™ small bore sewer,
and ClearRecover™ final treatment facility. For more information on
Clearford Water Systems, 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 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 Industries Inc.
