Clearford Announces signing of an agreement with MaléWater and Sewerage Company of the Republic of Maldives
Ottawa, Ontario – (February 16, 2011) – Clearford Industries Inc. (“Clearford” or the “Company”),(TSX-V:CLI) today announced it has signed an agreement with Malé Water and Sewerage Company (“MWSC”) of the Republic of Maldives to negotiate and enter into sewerage infrastructure projects with the objective of the development of sewerage infrastructure for at least two islands (“Projects”) located in the Republic of the Maldives, using Clearford’s SBS system. The parties have agreed to work in good faith to establish a binding contract for construction. This agreement enables the parties to rely upon the Clearford proven system of sewage collection and treatment and MWSC’s extensive construction and operational presence in the Maldives.
Malé Water & Sewerage Company Pvt Ltd, established in the year 1995, with the purpose of solving the growing water needs in Malé, has been serving the community for 15 years. The principle objective of the Company is to design, develop, operate, manage and maintain the public water, wastewater collection and disposal system in Malé.
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