OTTAWA, April 30, 2014 /CNW/ - Clearford Industries Inc. ("Clearford" or the "Company"), (TSX-V: CLI), today announced it has entered into a 30 year agreement to build, own and operate the water treatment, water distribution, wastewater collection and wastewater treatment systems at Fetherston Mobile Park ("Fetherston") near Kempville in North Grenville, Ontario.
Services will be provided initially for up to 41 residential lots. The infrastructure installed will be capable of expansion to accommodate a further 100 residential lots. During the past year, orders from the Ministry of Environment had required the Municipality of North Grenville to take actions for health and safety reasons since the majority of the current infrastructure in place for the collection of wastewater is malfunctioning.
Clearford, through its wholly owned subsidiary Clearford Water Utility (Fetherston) Inc. will fund, install, and contract for operation of the Park's entire water and wastewater infrastructure. This will be the first installation in Canada of Clearford One™, the company's proprietary unified sanitation system. Clearford One™ will be configured to meet the needs of the Park using Clearford's ClearDigest™ smart digesters at each residence, connected by the SBS® ClearConvey™ small bore sewer system to a ClearRecover™ treatment plant made by Newterra that will also include the Hallett Ultraviolet purification system. Clearford will enter into a 30 year contract with the Fetherston Mobile Park Association to operate the infrastructure. The initial value of the contract is approximately $3 million over its 30 year life.
The Municipality of North Grenville, in cooperation with Clearford Industries Inc., the Fetherston Mobile Park Association, ASI Group Ltd. of St. Catharines and Newterra Ltd. of Brockville have worked diligently to find a unique solution which would allow the residents to revitalize the Park and maintain their homes.
In addition to the agreement with the Fetherston Mobile Park Association, Clearford will enter into an agreement with ASI Group Ltd. to be the overall responsible operator for the site, with Newterra Ltd. to provide a "state of the art" wastewater treatment plant and with UV Pure Technologies Inc. to provide the Hallett Ultraviolet disinfection system.
"We are very excited to have the opportunity to bring together the products and skills of four of Ontario's leading water companies to provide Fetherston a state-of-the-art decentralized water and wastewater system. We believe this is an excellent solution for privately owned and operated water distribution and sewage treatment services in Canada," said Clearford President and CEO Kevin Loiselle.
The agreements are subject to certain conditions including approvals from the Ministry of Environment and transfer of ownership of the land from the trustee to provide security to the municipality and Clearford for the new infrastructure costs. Subject to these conditions, construction of the new system is expected to start this summer and be completed this year.
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 a provider of unified water management and sanitation systems.
ClearfordOne™ is based on Clearford's proprietary ClearDigest™ smart digester, SBS® ClearConvey™ small bore sewer, and ClearRecover™ treatment facilities customized to meet the requirements of each location.To learn more about the Company, 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.
SOURCE: Clearford Industries Inc.
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