Clearford Opportunities in India, Latin America, China and Maldives to Drive Growth for FY 2011-12
Ottawa, Ontario – (June 21, 2011) – Clearford Industries Inc. (“Clearford” or the “Company”), (TSX-V:CLI). One year ago Clearford announced to the Annual General Meeting that the Company’s distributed digestion and collection system for wastewater was ready for sale and that sales efforts would focus on India, China, Latin America and Asia. Today Clearford’s President and CEO, Bruce Linton told shareholders at the AGM that Clearford has been selected for projects in Peru, Ecuador, Colombia, Maldives, India and China which are expected to build contract backlog and deliver revenue growth through the second half of 2011.
“The demand for wastewater collection systems is urgent in these countries, and traditional sewers are costly and often ineffective due to very limited water supply” Mr. Linton said. “The initial implementation in each country will be a reference site for the enormous municipal and developer demand. In many cases, and based on the known scale of the in-country opportunity and success of the reference site the initial implementer will likely become a key sales agent and partner for Clearford.”
Developers from India, China and Peru have undertaken the technical and financial due diligence that included visits to Canada to review a Clearford reference community. The parties are working with legal support to establish the implementation agreements that will see Clearford take the design and project implementation mandate and sub-contract the construction obligation to a mutually agreeable general contractor.
“At last year’s AGM I was clear that the Clearford solution was the answer the developing world needed to solve the huge and growing sanitary sewage challenge” commented Mr. Linton. “This year I am confident to say that we have been selected and are finalizing contracts with the first movers and the line to be repeat implementers in these countries will be a long one.”
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About Clearford Industries Inc.
Clearford Industries Inc. (TSX-V: CLI) is the developer of the patented Small Bore Sewer â„¢ (SBSâ„¢), 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 SBSâ„¢ 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 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 managements 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.
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Clearford Industries Inc.
Phone: (613) 762-8402