OTTAWA, April 29, 2016 /CNW/ - Clearford Water Systems
Inc. ("Clearford" or the "Company"), a TSX Venture 50 Company, the
provider of the Clearford One™ unified water management and
sanitation system, today announced that it is providing an update
on its restructured and long-term debt financing agreements (The
"Agreements") previously announced on April
18, 2016 pursuant to the TSX-V continuous disclosure
policy.
Under the terms of the Agreement, the new long-term debt would
provide additional working capital required for the Company's
ongoing operations, and the restructured existing debt will have
improved terms for early repayment. Closing of both Agreements was
originally agreed to be no later than April
29, 2016. As of today, the Company and the Lender continue
to work on finalizing the Agreements. All material terms and
conditions previously announced remain unchanged. It is now
anticipated that the Agreements will close in early May.
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 additional information about 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.
