Clearford signs two agreements to supply waste-water systems in Colombia
Ottawa, Ontario – (September 27, 2010) – Clearford Industries Inc. (“Clearford” or the “Company”, TSX-V: CLI) today announced agreements with two municipal governments representing towns near Cali, Colombia to design and supply the Clearford waste-water collection and treatment system. This agreement is for the residential areas of San Pedro and Cerrito, Valle de Cauca, which have a total population of more than 25,000 people and currently have no functioning waste-water collection system. Funding for these systems has been committed to the communities from the Government of Columbia on an annual basis and the systems are eligible for funding from international development agencies. Capital funding has yet to be finalized.
Under the agreement announced today, Clearford has been given the right to supply the Clearford Small Bore Sewer™ (SBS™) system with end treatment, provided that final construction contracts are negotiated on or before December 21st, 2010. Clearford has committed to provide the Project Authorities with SBS™ and treatment designs that meet the following criteria:
– Capital and operating cost being 10% less than for the purchase, installation, operation and maintenance of the traditional gravity sewer and central treatment system
– Water exiting the system is superior to the current government discharge standards
– Bio-solids in the wastewater are digested to create green fuel.
In the event that these conditions are not met by the designs supplied by Clearford, or capital funding is not committed within 90 days, the obligations of both Clearford and the communities are ended unless extended by mutual agreement.
Clearford believes that the two agreements signed in Colombia are well suited to the Clearford technology and well aligned with the Colombian Programa de Saneamiento Basico and Recursos de Agua Potable y Saneamiento Basico as prescribed in Law 715 – 2001 funding programs and the programs of international agencies active in the region.
Clearford expects both technical and funding conditions to be met and the projects to proceed. However, this cannot be assured nor can it be assured that the projects will be profitable for Clearford if and when they proceed.
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 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 further information:
Clearford Industries Inc.
Phone: (613) 762-8402