01/16/2006

Clearford Industries Inc. Announces the Completion of a Filing Statement Regarding the Acquisition of Brooklin Concrete Inc.

Ottawa, Ontario – (January 16, 2006) – Clearford Industries Inc., ("Clearford") is pleased to announce that it has filed its Filing Statement respecting its previously announced acquisition of Brooklin Concrete Inc. from Return on Innovation Fund Inc. ("ROI Fund" or the "Fund"), its private placement of secured convertible debentures, and the amendment of its strategic leadership agreement with SC Stormont Inc. (collectively referred to as the "Transaction").  Clearford expects to close the Transaction by the end of January 2006.  The closing of the Transaction is conditional upon obtaining the requisite consent from the shareholders of Clearford.  Clearford is in the process of obtaining the required shareholder consent in connection with the Transaction.  Further details regarding the Transaction may be found in the Filing Statement filed by Clearford on SEDAR at  www.sedar.com.  Final acceptance by the TSX Venture Exchange (the "Exchange") of the Transaction is conditional upon Clearford filing all other required documents with the Exchange.

Clearford is listed on the Exchange under the trading symbol CLI.

The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

About Clearford Industries Inc.
Clearford designs and implements waste water management systems utilizing the SBS™ patented solid and liquid waste collection systems. For many communities the system can provide community sewer and water systems with superior performance at costs which are significantly lower than the cost of traditional methods. Clearford's systems have been in operation in Ontario communities since 1989 and are approved by the Ontario Ministry of the Environment and meet the Ten-State Standard in the United States.

About ROI Fund
ROI Fund is a labour sponsored investment fund (LSIF). The Fund is a Canadian corporation with offices in Toronto, Ontario. The Fund was formed in December 2002, and is a leader in its class in both investment performance and asset raising. The Fund invests in mature stable businesses using debt to provide greater investment stability. The Fund has invested in over 10 Ontario based companies and true to LSIF mandate, has provided needed capital to Ontario businesses for job creation and growth.

For more information contact:
Mr. Bruce Linton
President and CEO
Clearford Industries Inc.
Phone: (613) 599-6474 ext. 301
www.clearford.com

ROI Fund Inc.
Mr. John Sterling
CEO
Phone: 416 361-6162
www.roifund.com