OTTAWA, Aug. 21, 2015 /CNW/ - Clearford Water Systems
Inc. ("Clearford" or the "Company"), (TSX-V: CLI), today announced
that it has closed and fully funded the $1.5 million private
placement of common shares at $0.50
per share announced on July 29,
2015.
The transaction is subject to final approval of the TSX-V. In
accordance with the TSX-V rules and regulations there will be a
trading restriction on the common shares for four months from the
date of closing. The private placement was taken up by European
investors.
These transactions were not brokered and no placement fee is
payable.
Prior to the issuance of the final tranche of these common
shares and subsequent issuance and closure of the convertible
debenture and issuance of bonus shares as previously announced, the
Company had 87,442,391 issued and outstanding common shares and
101,125,031 on a fully diluted basis. Subsequent to the issue of
common shares and previously announced convertible debenture the
Company has 87,542,391 issued and outstanding shares and
101,225,031 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.
