Clearford announces license agreement with West Capital Developments to implement SBS® Sewer Network for Carp Airport Development
OTTAWA, Oct. 7, 2013 /CNW/ - Clearford Industries Inc. ("Clearford" or the "Company") (TSXV: CLI) today announced that it has signed a $500,000 license agreement with West Capital Developments (WCD) to implement its SBS® Collection Network as part of its Carp Airport Development. As part of the license agreement Clearford received an initial fee of $50,000 with the remainder of the contract being recognized over each of the 3 planned phases. Infrastructure construction is expected to begin in the Spring of 2014.
"This project is another exciting step forward for Clearford as the development is our first in Ottawa and is just minutes from our offices. The proximity of the site will allow Clearford to showcase our SBS® system to both local and international customers visiting our offices", commented Clearford President and CEO Kevin Loiselle.
The Carp Airport Development, which was approved in 2003, is for a gated community adjacent to a high-tech business airpark. Subsequent to an ownership change in early 2013, whereby a new ownership group bought control of WCD, the proposed residential $50 million project now includes plans for the construction of 354 residential units and a 188-acre business park in the west-end of Ottawa on the airport property. It is expected that estate lots ranging from half an acre to five acres will start in the low $200,000s, and urban lots of 50 feet by 150 feet will start in the low $100,000s. The residents of the new community will receive city water, but will pay into a private sewage treatment system based on the Clearford Small Bore Sewer®. The community will operate like a private condominium, with some of the maintenance fees directed to the airport.
"For privately owned and operated sewage treatment systems, The SBS® System provides a cost effective collection network, which lowers the capital cost and long term operating costs of sewage treatment" said Mr. Loiselle.
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About Clearford Industries Inc.
Clearford Industries Inc. (TSX-V: CLI) is a water infrastructure company that provides holistic solutions for all aspects of water delivery, management, treatment and recycling. Clearford acts as a system integrator and core solution provider in order to deliver end-to-end water management for established and new communities. Clearford partners with leading edge water treatment providers and local constructors to deliver projects that integrate the Clearford patented SBS® waste water collection system with potable water treatment & supply, waste water treatment & recycling, and storm water management & fire suppression systems.
The Clearford SBS® System is a patented watertight small diameter solids-free wastewater collection system that provides servicing with superior operational and environmental performance at a lower installation & operational cost compared to other sewer systems.
Clearford currently has systems installed or under construction in Canada, Colombia, Peru and India.
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.
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