OTTAWA, March 12,
2012 /PRNewswire/ - Clearford Industries Inc. ("Clearford"
or the "Company", TSXV: CLI) today announced that it signed a
contract to implement their patented waste water collection system
on behalf of Inversiones Positano S.A.C ("Positano"), a private
developer who is building an exclusive beach-front development in
San Antonio, just south of
Lima, Peru. The Cdn$875,000 contract for Clearford's SBS™ system
is being implemented through Clearford's subcontractor in
Peru.
Delivery and installation will begin immediately
and is expected to be completed by October
2012. Milestone payments to Clearford are pre-conditions to
Clearford payments to the subcontractor.
Last year Clearford had signed an agreement of
representation with Altis S.A.C., parent of Positano, to market the
Clearford SBS system in Peru. Bruce
Linton, President and CEO of Clearford stated "The first
Clearford contract in South
America is a significant milestone for us in this fast
growing region. We are very pleased to work with Altis and Positano
to provide our SBS system to this high quality residential
development which we believe will be a showcase for Clearford
within the South American market."
"We are very pleased with the lower capital and
operating costs of the Clearford SBS system, and are excited about
bringing this new environmentally friendly technology to
Peru" commented Mr. Jean Pierre Fontanot, Positano General
Manager. "We will be working closely with Clearford on
the development of our beach community at Positano and are looking
forward to working together on additional projects in the
future."
Clearford is in discussion with several
developers and communities in South
America for installation of SBS.
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 Industries Inc.
Clearford Industries Inc. (TSX-V: CLI) is the developer of the
patented Small Bore Sewer ™ (SBS™), a watertight small diameter
wastewater collection system that provides servicing with superior
operational and environmental performance at a significantly lower
cost when compared to historic gravity sewers.
Clearford's SBS™ technology and industry expertise provide the
enabling platform to deliver, on a global basis, turnkey,
fixed-price wastewater collection, treatment and energy generation
solutions that are ideally suited for water-scarce regions, those
with unreliable water distribution networks, and new developments
seeking a greener approach to water and wastewater
management. For more information on Clearford, 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 Industries Inc.