Clearford SBS(TM) Wastewater System to service Lakepoint Village Development
OTTAWA, July 13, 2012 /CNW/ - Clearford Industries Inc. ("Clearford" or the "Company") (TSXV: CLI), today announced that its patented SBS™ Wastewater System has been contracted for use in Phase I of Lakepoint Village, a unique adult lifestyle community near Lake Simcoe, Ontario, Canada. The developer has responsibility for all materials and installation costs to construct the system to the designs and specifications provided by Clearford. Clearford has received a license fee of $467,000.
As previously announced, Clearford has established a wholly owned subsidiary dedicated to funding for water projects using the Clearford SBS™. That subsidiary, Clearford Finance Corporation (CFC), has been funded by 20 year fixed term debt, as previously announced. CFC has made a term loan of $2.7 million to support completion of Phase I of the development. The loan is fully secured over assets of the development, bears competitive interest and has an initial term of four years, which may be extended annually to a maximum of 20 years.
Kevin Loiselle, Clearford President, said "Lakepoint is a high quality project and the SBS™ Solution is an excellent fit for this environmentally sensitive area. We are very pleased that the project funding capability now available to Clearford allows us to assist projects like Lakepoint to proceed on a timely basis".
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About Clearford Industries Inc.
Clearford Industries Inc. (TSX-V: CLI) is the developer of the patented Small Bore Sewer ™ (SBS™) based solution, which enables the efficient collection and treatment of sewage. Its superior operational and environmental performance is achieved at a significantly lower operational cost when compared to historic gravity sewers. Clearford's SBS™ technology and industry expertise provide the enabling platform to deliver on a global basis, a turnkey, wastewater collection and treatment solution that is ideally suited for; water-scarce regions, communities with unreliable water distribution networks, and new developments seeking a greener approach to full 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 managements 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.For further information: