OTTAWA, Dec. 2, 2014 /CNW Telbec/ - (TSX-V: CLI) Clearford Water Systems Inc. ("Clearford" or the "Company") today announced that it has granted 1,615,000 stock options to its senior management team and independent directors and is pleased to announce that it has retained the services of Renmark Financial Communications Inc. to handle its investor relations activities.
Clearford has granted 1,215,000 stock options pursuant to its stock option plan to its senior management team consisting of the President & CEO, the CFO and the CTO of the Company. Additionally, the Company has granted 400,000 options in total to its four independent directors on the same terms and conditions. The exercise price of the options is $0.11 per share based on the November 28, 2014 closing price as approved by its Board of Directors. The options vest annually over 3 years and entitle the holder to purchase one share of the Company for a period of 5 years expiring November 30, 2019. As the options granted to the independent directors exceed the limits allowed by the TSX-V and the Clearford Stock Option plan for options allotted to insiders, the grant will be subject to disinterested shareholder approval which will be requested at the next shareholder meeting of the Company. All other terms and conditions of the grants are in accordance with the TSX Venture Exchange policies and the terms and conditions of the Company's Stock Option Plan.
Additionally, the Company announced today that it has entered into an investor relations services agreement with Renmark Financial Communications Inc. to assist with its investor relations activities.
"We are pleased to announce that we have selected Renmark to reinforce Clearford's profile in the financial community and enhance the visibility of our project portfolio. We chose Renmark because its standards and methodologies fit best with the message we wish to communicate to the investing public," noted Kevin Loiselle, President & CEO of Clearford.
In consideration of the IR services to be provided by Renmark Financial Communications Inc., Clearford has agreed to a monthly agreement with a retainer of $7,000 starting on January 1st, 2015.
Renmark Financial Communications Inc. does not have any interest, directly or indirectly, in Clearford or its securities, or any right or intent to acquire such an interest.
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 Water Systems Inc.
Clearford Water Systems Inc. (TSX-V: CLI) is a provider of unified water management and sanitation systems. Clearford One™ 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. 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.
SOURCE: Clearford Industries Inc.
For further information: Kevin Loiselle, President & CEO, Clearford Water Systems Inc., Phone: (613) 599-6474 ext. 303, www.clearford.com; Renmark Financial Communications Inc. , Bettina Filippone: firstname.lastname@example.org, Shreya Sindwani: email@example.com, Tel.: (416) 644-2020 or (514) 939-3989, www.renmarkfinancial.com