CALGARY, May 14, 2014 /CNW/ - Pure Technologies Ltd. ("Pure" or the
"Company") (TSX: PUR) announced today that its wholly-owned subsidiary
has been awarded new work from an existing customer in Australia for
its engineering and inspection services on critical water and
Pure Technologies (AUS) Pty. Ltd., has been awarded new work worth $2.6
million from an existing customer in Brisbane, Australia. Of this
amount, approximately $1 million represents an extension of services
related to a previous award announced in the fourth quarter of 2013.
This work, currently underway, involves the continued use of Pure's
condition assessment and leak detection technologies for a critical
wastewater pipeline made up of primarily concrete pipe sections. The
remainder of the award, valued at $1.6 million, is for similar
services, but solely for condition assessment of large-diameter
metallic pipes. This new work is expected to commence mid-year with the
majority completed within the third quarter.
About Pure Technologies Ltd.
Pure Technologies Ltd. is an international asset management technology
and services company which has developed patented technologies for
inspection, monitoring and management of critical infrastructure around
the world. Pure's business model incorporates four distinct but
complementary business streams:
Sales of proprietary monitoring technologies for pipelines, bridges and
structures (SoundPrint®, SoundPrint® AFO);
Recurring revenue from data analysis and site maintenance for these technologies, and from
Premium technical services including pipeline inspection, leak detection and condition assessment (PureEM™, SmartBall®, Sahara®, PipeDiver®, PureRobotics®; PureMFL™;
Specialized engineering services in areas related to asset management, primarily in the area of pipeline
condition assessment for water and wastewater infrastructure.
This release contains forward-looking statements. Forward-looking
statements, without limitation, may contain the words "believes",
"expects", "anticipates", "estimates", "intends", "plans", or similar
expressions. Forward-looking statements are not guarantees of future
performance. They involve risks, uncertainties and assumptions and the
Company's actual results could differ materially from those
anticipated. Forward-looking statements are based on the opinions and
estimates of Management at the date the statements are made, and are
subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
projected in the forward-looking statements. In the context of any
forward-looking information please refer to risk factors detailed in,
as well as other information contained in, the Company's filings with
Securities Regulators (www.sedar.com).
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"The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release"
SOURCE: Pure Technologies Ltd.
For further information:
To find out more about Pure Technologies Ltd. (TSX: PUR), visit our website at www.puretechltd.com or contact Paul Moon, Investor Relations; 403 266-6794 or firstname.lastname@example.org.