OTTAWA, Sept. 22, 2016 /CNW/ - Clearford Water Systems
Inc. ("Clearford" or the "Company"), (TSXV: CLI), a TSX Venture 50
Company, today announced the signing of a one year contract to
operate and maintain the Clearford One system in Jambudiyapura
village in the Indian state of Gujarat. The contract is valued at
Rs 4,40,507 (CAD $9,000).
"We are pleased to sign our first operation and maintenance
contract in India" said Clearford
CEO Kevin Loiselle, "securing
operating contracts on our remarkably cost effective Clearford One
systems is a natural step for Clearford to complete its service
offering" he continued.
Clearford also announced today that it has engaged with the Tata
Trusts to identify villages in the state of Gujarat to use their
available CSR allocations to install Clearford's Total Sanitation
Solution. It is expected that these projects will be delivered in a
similar fashion as the recently completed project at Jambudiyapura
near Baroda, Gujarat's first open-defecation free village.
Currently discussions are underway to identify the first set of
villages in Gujarat to be serviced with the Clearford One
sanitation system. On completion of the first set of villages
Clearford and Tata Trusts will look to work together to identify
villages in other parts of India.
"The successful commissioning of our first Clearford One system
in India has drawn a lot attention
from large corporations in India
that are looking to place their Corporate Social Responsibility
(CSR) budgets in sanitation related projects" said Mr. Loiselle.
"Tata Trusts has been following the progress of our Jambudiyapura
project and are now interested in deploying some of their extensive
CSR budget on Clearford One installations" he concluded.
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.
About Tata Group and Tata Trusts
Tata Group is an
Indian multinational conglomerate holding company headquartered in
Mumbai, Maharashtra, India. It was founded in 1868 by Jamsedji
Tata. It is one of India's largest
conglomerates. In 2014-15, the total revenue of Tata companies, was
US$108 billion. The Tata
founders bequeathed most of their personal wealth to the many
trusts they created for the greater good of India and its people. Today, the Tata Trusts
controls 66 percent of the shares of Tata
Sons, the holding Tata company. The wealth that accrues from
this asset supports an assortment of causes, institutions and
individuals in a wide variety of areas. http://www.tata.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.
www.clearford.com
SOURCE Clearford Water Systems Inc.
