OTTAWA, Oct. 19, 2016 /CNW/ - Clearford Water
Systems Inc. ("Clearford" or the "Company"), (TSXV: CLI), a TSX
Venture 50 Company, today announced that it has submitted its bid
in response to the Request for Proposal ("RFP") from the Township
of Adjala-Tosorontio to provide wastewater servicing for the Town
of Everett under a Design, Build, Finance, Operate and Maintain
("DBFOM") Agreement.
The bid was submitted by Clearford, EllisDon Civil Ltd
("EllisDon") and Koester Canada Inc. ("Koester") under the name
Everett Millennium Services Group ("EMSG"). EllisDon will be the
prime subcontractor on the project while Koester will manufacture
and supply the wastewater treatment plant, and provide operations
and maintenance services for the project.
EMSG will be funded by way of project finance from funds
arranged by Signina Capital AG of Switzerland, an investment firm specialised in
water related infrastructure, pursuant to the previously announced
funding agreement (see press release dated August 16, 2016), which provides for up to
$250 million in capital commitments
for Clearford's Pay-4-Performance projects throughout Canada.
Clearford is one of two bidders qualified by the Township
through a Request for Expressions of Interest issued by the
Township in 2015, to which six parties responded. No date has
been set by the Township for selection of the preferred bid for
negotiation of final contracts. If EMSG is selected as the
preferred bidder, EMSG would enter into contracts with the
municipality to design and build the system, and to provide
services for 1,366 connections. The Operating and Maintenance term
under the proposal is 25 years following completion of construction
and commissioning.
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.
