OTTAWA, Nov. 21, 2014 /CNW Telbec/ - Clearford Water Systems Inc. ("Clearford" or the "Company"), (TSXV: CLI), announced today, that TSX Venture Exchange has provided its acceptance to issue up to 8,666,666 bonus shares on the C$3.25 million 20 year term debt facility it previously announced and signed on November 19, 2014.
As part of the loan agreement, the Company had agreed to issue up to 9,629,630 Bonus shares to the Lender which was subject to the approval of the TSX Venture Exchange. The actual number of bonus shares to be issued has been reduced to 8,666,666 Bonus shares under this approval and will be subject to a 4 month trading restriction required by the TSX-V.
The Company currently has 67,411,836 shares outstanding and 110,383,440 shares on a fully diluted basis. Subsequent to the completion of the transaction and the issuance of the bonus shares, the Company will have 76,078,502 shares outstanding and 99,811,243 on a fully diluted basis.
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: Mark McGuire, Clearford Water Systems Inc., Phone: (613) 599-6474 ext. 310, www.clearford.com