Clearford Announces Shareholder Approval of Armtec Transaction



    OTTAWA, Aug. 1 /CNW Telbec/ - Clearford Industries Inc. ("Clearford", the
"Company", TSX-V: CLI) today announced that following shareholder and TSX
Venture approval obtained on July 30, 2008, the divestiture of Clearford's
Brooklin Concrete Division assets and the assignment of the right to purchase
the shares of Boucher Pre-Cast Concrete Limited as previously announced on
June 25, 2008 (the "Transaction"), closed on July 31, 2008. Details of the
Transaction are contained in Clearford's Management Information Circular dated
June 30, 2008, a copy of which is available on SEDAR at www.sedar.com.
    As previously announced, as a condition of the closing of the
Transaction, Bruce Linton has entered into a consulting contract with the
purchaser, Armtec Limited Partnership, and as a result has resigned as
President and CEO of the Company effective August 1, 2008. Mr. Linton will
remain on as a Director of the Company. The Board is pleased to announce the
appointment of, John Kelly as the President and CEO of Clearford, as well as a
Director of the Company, subject to TSX Venture approval. Mr. Kelly is
recognized as a pioneer in Canadian technology with over 35 years of
entrepreneurial and executive experience in this sector. He has held a number
of executive positions including CEO of Jetform, was a founder of SHL
Systemhouse and has received a number of business awards.
    Mr. Sam Reisman, who has represented debenture holders on the Company's
Board, has resigned following the closing of the Transaction which repays
debentures in full. Mr. Reisman has been a valuable contributor to the Board,
and the Company thanks him for his commitment to Clearford.

    Forward-Looking Statements

    This news release contains certain statements that constitute
forward-looking information within the meaning of applicable securities laws
("forward-looking statements"). All statements other than statements of
historical fact contained herein are forward-looking statements, including,
without limitation, statements regarding the impact of the transaction on the
Clearford financial performance and statements regarding the business
strategy, plans and objectives of or involving Clearford or the businesses in
which they have invested. Prospective investors can identify many of these
statements by looking for words such as "believe", "expects", "will",
"intends", "plans", "projects", "anticipates", "estimates", "continues" and
similar words or the negative thereof. There can be no assurance that the
plans, intentions or expectations upon which these forward-looking statements
are based will occur. Although management believes that the expectations
represented in such forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct.
    By their nature, forward-looking statements require assumptions and are
subject to inherent risks and uncertainties, including those discussed herein.
There is significant risk that forward-looking statements will not prove to be
accurate. You are cautioned not to place undue reliance on forward-looking
statements made herein because a number of factors could cause actual future
results, conditions, actions or events to differ materially from the targets,
expectations, estimates or intentions expressed in the forward-looking
statements. Except as expressly required by applicable securities law we
disclaim any intention and assure no obligation to update or revise any
forward looking statements whether as a result of new information, future
events or otherwise.
    The future outcomes that relate to forward-looking statements may be
influenced by many factors, including but not limited to: industry
cyclicality; competition; reduction in demand for products; collection from
customers; relationships with suppliers; lack of long-term agreements;
expiration of rights under license and distribution arrangements; raw material
price volatility; product liability; intellectual property; reliance on key
personnel; environmental; collective bargaining; interest rates; uninsured and
underinsured losses; operating hazards; risks of future legal proceedings;
income tax matters; leverage and restrictive covenants; credit facilities;
distribution of securities; restrictions on potential growth; effect of market
interest rates on price of securities; potential dilution; and various risks
relating to the transaction, including risks relating to integration and
realization of expected synergies, reliance on key personnel, potential
undisclosed liabilities associated with the transaction. You are cautioned
that the foregoing list of factors is not exhaustive and that when relying on
forward-looking statements to make decisions with respect to Clearford,
investors and others, you should carefully consider these factors, as well as
other uncertainties and potential events, and the inherent uncertainty of
forward-looking statements.

    The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. More detailed information of the matters
described herein is included in the public documents Clearford files from time
to time with Canadian securities regulatory authorities.

    About Clearford Industries Inc.

    Clearford Industries Inc. operating unit, the Wastewater Systems
Division, designs and implements the patented Small Bore Sewer(TM) (SBS(TM)),
a watertight small diameter wastewater collection system for developers,
municipalities and First Nations communities who need to create, expand or
upgrade their sewage systems. This solution provides servicing with superior
operational and environmental performance at a significantly lower cost when
compared to historic gravity sewers. With its first installation in 1989, the
SBS(TM) has since had several installations within Canada and the U.S. For
more information on Clearford Industries Inc., please visit www.clearford.com.




For further information:

For further information: Mr. John Kelly, President and CEO, Clearford
Industries Inc., (613) 599-6474 ext. 307; www.clearford.com

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Clearford Industries Inc.

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