OTTAWA, March 12, 2012 /CNW/ - Clearford Industries Inc. ("Clearford" or the "Company",TSXV: CLI) today announced that it signed a contract to implement their patented waste water collection system on behalf of Inversiones Positano S.A.C ("Positano"), a private developer who is building an exclusive beach-front development in San Antonio, just south of Lima, Peru. The Cdn$875,000 contract for Clearford's SBS™ system is being implemented through Clearford's subcontractor in Peru.
Delivery and installation will begin immediately and is expected to be completed by October 2012. Milestone payments to Clearford are pre-conditions to Clearford payments to the subcontractor.
Last year Clearford had signed an agreement of representation with Altis S.A.C., parent of Positano, to market the Clearford SBS system in Peru. Bruce Linton, President and CEO of Clearford stated "The first Clearford contract in South America is a significant milestone for us in this fast growing region. We are very pleased to work with Altis and Positano to provide our SBS system to this high quality residential development which we believe will be a showcase for Clearford within the South American market."
"We are very pleased with the lower capital and operating costs of the Clearford SBS system, and are excited about bringing this new environmentally friendly technology to Peru" commented Mr. Jean Pierre Fontanot, Positano General Manager. "We will be working closely with Clearford on the development of our beach community at Positano and are looking forward to working together on additional projects in the future."
Clearford is in discussion with several developers and communities in South America for installation of SBS.
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 the developer of the patented Small Bore Sewer ™ (SBS™), a watertight small diameter wastewater collection system that provides servicing with superior operational and environmental performance at a significantly lower cost when compared to historic gravity sewers. Clearford's SBS™ technology and industry expertise provide the enabling platform to deliver, on a global basis, turnkey, fixed-price wastewater collection, treatment and energy generation solutions that are ideally suited for water-scarce regions, those with unreliable water distribution networks, and new developments seeking a greener approach to 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 management's 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:
President and CEO
Clearford Industries Inc.
Phone: (613) 599-6474 ext. 301