Clearford Announces Investor Relations Advisor and Stock Option Grants
Ottawa, Ontario – (August 31, 2010) – Clearford Industries Inc. (“Clearford” or the “Company”, TSX-V:CLI) today announced it has entered into an investor relations advisory agreement with Martin Tremblay (the “Investor Relations Agreement”). Mr. Tremblay has been engaged in providing investor relations services to other companies since 2008, including the development of corporate communications strategies and developing and maintaining active communications networks with private investors across Canada. Mr. Tremblay currently directly owns 350,000 common shares of Clearford. Under the terms of the Investor Relations Agreement Mr. Tremblay will provide investor relations services to Clearford. The services will include creating a shareholder communications strategy for the Company, communicating with Brokers and potential institutional investors and promoting the corporate image of Clearford. The Investor Relations Agreement provides for a monthly retainer of $5,000 and Mr. Tremblay will be granted an option to purchase 100,000 common shares of Clearford at an option price of $0.20 which will vest in equal installments over a 12 month period. The Agreement is on a monthly basis until terminated by either party.
At the Company’s AGM on June 23, 2010, shareholder approval was obtained to fix the authorized option pool to 20% of outstanding shares which increased the available option pool from 4,971,233 to 8,110,235. On July 13, 2010, following disinterested shareholder approval obtained at the Company’s June 23, 2010 Annual Special Meeting, and TSX approval: 1) 1,852,222 stock options were granted to SC Stormont Holdings Inc., a Company controlled by Rod Bryden, the chairman and a director of the Company, at an exercise price of $0.15 per share with an expiry date of July 13, 2015; 2) 1,600,000 options were granted to the CEO of the Company whereby an equal number of options are exercisable at the following prices per share, $0.15, $0.25, $0.40 and $0.60, with an expiry date of July 13, 2015; 3) 707,062 stock options previously granted to directors of the company had prices revised to $0.15 from previous prices ranging from $0.26 to $0.44 with expiry dates remaining unchanged ranging from November 2011 to September 2013; 4) 225,000 stock options were granted to directors at a price of $0.15 per share with an expiry date of July 13, 2015; 5) 100,000 options were granted to the CFO of the Company at a price of $0.15 per share and an expiry date of July 13, 2015 to replace 100,000 options previously granted, and now cancelled, at prices ranging from $0.65 to $0.75 and expiry dates ranging from August 2010 to August 2011. The total number of options granted to Directors, Officers and Insiders as a result was 4,484,284, updated from 4,946,251 as stated in the press release dated July 13, 2010.
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 ™ (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 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