OTTAWA, Aug. 13, 2015 /CNW/ - Clearford Water Systems
Inc. ("Clearford" or the "Company"), (TSX-V: CLI), today announced
that it has closed the private placement of a $3.6 million debenture convertible to
common shares at $0.55 per share with
interest at 5%, secured by 90% of outstanding shares of UV
Pure Technologies Inc.. The placement was announced on July 29, 2015.
The transaction which is subject to final approval of the TSX-V
was increased from $3.5 million
to $3.6 million subsequent to the
Company's previous announcement. The debentures will be convertible
into common shares of the Company at an exchange price of
$0.55 per share in minimum
denominations of $100,000. In
accordance with the TSX-V rules and regulations there will be a
trading restriction on the debenture and the associated treasury
shares for four months from the date of closing. The private
placement is taken up by European and Canadian investors.
These transactions were not brokered and no placement fee is
payable.
Prior to the issuance of this convertible debenture, the Company
had 81,109,057 issued and outstanding common shares and 104,456,243
on a fully diluted basis. Subsequent to the issue of convertible
debenture the Company has 81,109,057 issued and outstanding shares
and 111,001,697 on a fully diluted basis.
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,
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 Water Systems Inc.
