Clearford Announces Appointment of CFO and Amendment to Stock Option Plan
Ottawa, Ontario (June 21, 2011) – Clearford Industries Inc. (“Clearford” or the “Company”), (TSX-V:CLI) today announced it has appointed Mark Goudie as Chief Financial Officer. Mr. Goudie joined Clearford on May 3, 2011 as Executive Vice President, Operations and will also remain in that position. Gerald Leahy, Clearford’s former CFO, will remain available to Clearford in order to help with any transitional items through to September, 2011.
Mr. Goudie has over 20 years of senior-level financial leadership experience and has held CFO positions with both private companies and Canadian and US publicly-listed companies in a variety of industries. Mr. Goudie is a chartered accountant and began his career with PricewaterhouseCoopers.
“Mark’s experience with international financial transactions can help accelerate our growth by working with certain of our international opportunities to help them secure available financing through both private institutions and relevant development agencies and organizations”, commented Mr. Bruce Linton, President and CEO.
“I also want to acknowledge and thank Gerald for his dedication, stewardship and guidance in helping bring Clearford to this point and I look forward to his continued support and significant contribution during the transition.”
The Company has also received shareholder approval today at its Annual General Meeting to amend its stock option plan, the effect of which will be to increase the maximum number of options in the pool to twenty percent of the issued and outstanding shares pending completion of the ongoing private placement, to a maximum amount of 12,555,816 shares.
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 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.
For further information:
Clearford Industries Inc.
Phone: (613) 762-8402