BURNABY, BC, July 2, 2014 /CNW/ - IWG Technologies Inc. is pleased to announce that its subsidiary, International Water-Guard Industries Inc. (IWG), will be receiving support from Western Economic Diversification's Western Innovation (WINN) Initiative. http://news.gc.ca/web/article-en.do?nid=863729
"The WINN program shows the Federal government's commitment to the aerospace sector and will assist IWG in accelerating its development of industry-leading products" says Darryl Jacobs, President of International Water-Guard Industries Inc.
The support comes in the form of repayable assistance, with up to $315,500 contributed over the next two years to help develop, certify and commercialize aircraft water management products including on-demand water heaters and water treatment systems for business jet lavatories and showers. IWG will repay the contribution over 5 years, commencing February 2017.
IWG Technologies, Inc. is the public holding company for International Water-Guard Industries Inc., a Canadian aerospace company focused on aircraft potable water treatment, water systems, water heaters and components. IWG has expertise in all aspects of water treatment, has the products and know-how to provide high quality water for passengers and crew, and lightweight, space-saving solutions for the aircraft operator.
On behalf of the Board of Directors
IWG Technologies Inc.
"Bruce W. Gowan"
Chair of the Board
This news release contains certain forward-looking statements that reflect the current views and/ or expectations of IWG with respect to its performance, business and future events including statements with respect to completion of proposed or future transactions. Such statements are subject to a number of risks, uncertainties and assumptions, which may cause actual results to be materially different from those expressed or implied including the risk that required approvals will not be obtained and that suitable additional businesses may not be identified. IWG assumes no future obligation to update these forward looking statements except as required by applicable securities laws.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
TSX VENTURE: IWG
SOURCE: IWG Technologies Inc.
For further information:
IWG Technologies, Inc.
Unit One - 3771 North Fraser Way,
Burnaby, BC V5J 5G5 Canada
Tel: (604) 255-5555, Fax: (604) 255-5685