OTTAWA, April 12, 2017 /CNW/ - Clearford
Water Systems Inc. ("Clearford" or the "Company"), (TSXV: CLI), a
TSX Venture 50 Company, today announced that it has substantially
completed its long-term project debt financing which was previously
announced on May 19, 2017.
As previously announced, Sustainable Water Projects Inc. ("SWP")
and Clearford have executed a loan agreement providing up to
US$5.25 million to be invested by
SWP, in tranches. Clearford has now received substantially all the
funding available under this loan.
The funding will allow the Company to continue to move forward
on its projects and project opportunities in Ontario through the P4P program for
municipalities as well as working with certain private developments
which will be required to provide its own services under plans of
subdivision within the municipalities. The focus of the Company
will continue to be municipalities in the Southwestern Ontario corridor which anticipate
higher than average population growth to meet the growing demand of
affordable housing within commuting distance of Toronto.
"The Clearford One system and the Pay for Performance delivery
model continues to gain traction in the Ontario market" said Clearford CEO
Kevin Loiselle. "We have seen
significant interests in regions outside of Ontario as well and we believe this is a
winning formula that has application worldwide. Our international
efforts continue to move forward and we expect to commence
construction of Phase 2 of the Cayunda project in Colombia in June
2017", he concluded. Phase 2 of the Cayunda project is
expected to generate revenue of $1.1 million
dollars.
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. (TSXV: 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.
