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Clearford Industries Inc. to raise up to $3 million Through a Best-Efforts Private Placement

Ottawa, ON (May 20, 2011) – Clearford Industries Inc. (the “Company”) has entered into an agreement with a syndicate of agents led by Mackie Research Capital Corporation and including NCP Northland Capital Partners Inc. (collectively, the “Agents”), to raise on a best efforts private placement basis up to $3 million (the “Offering”) through the issuance of units, consisting of one common share and one half of one common share purchase warrants at a price to be determined in the context of the market.

The net proceeds from the Offering will be used to advance near-term commercial opportunities, fund an ongoing intellectual property protection program and for general working capital purposes. Pursuant to applicable Canadian securities laws, all securities issued in connection with the Offering will be subject to a four month hold period from the closing of the Offering.

The Company will pay the Agents a cash commission equal to 7% of the gross proceeds of the Offering and receive compensation options equal to 7% of the number of units sold in connection with the Offering.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities. 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.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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 further information:

Sharilyn McNaughton
Clearford Industries Inc.
Phone: (613) 762-8402
www.clearford.com

About Clearford Water Systems Inc.
Clearford Water Systems Inc. (TSX-V: CLI) is a provider of unified water management solutions for the design, build, finance, operation and maintenance of water and wastewater infrastructure systems. The Company’s technology-based water solutions include Clearford One® wastewater infrastructure systems, Clearford M-brane™ packaged treatment solutions, and a full range of UV Pure® water disinfection products. Clearford is the winner of the Frost & Sullivan 2017 Enabling Technology Leadership Award for Global Decentralized Water & Wastewater Treatment. For more information on Clearford Water Systems, 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 more information contact:
Kevin Loiselle, President & CEO
Clearford Water Systems Inc.
Phone: 613 599 6474 ext. 303
www.clearford.com

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