OTTAWA, July 3, 2019 /CNW/ - Clearford Water Systems
Inc. ("Clearford" or the "Company"), (TSXV: CLI), today announced
the closing of a short-term financing round (the "Loans")
which has been approved by the TSX Venture Exchange.
The loans are unsecured and will be issued for a 6 month term
maturing on December 31, 2019.
$250,000 of the $300,000 loans were subscribed for by 3 insiders
of the Company. Glenn Gold, Chairman
and Kevin Loiselle, President and
CEO each funded $100,000 of the loan.
Wilf Stefan, COO funded $50,000 of the loan. The loans bear a fixed
borrowing cost equal to 10% of the principal balance and will be
payable at the loan maturity date. The proceeds of the loan will be
used for working capital and general corporate purposes.
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 Water Systems Inc.
Clearford Water Systems is a provider of unified water
management solutions for the design, deployment, financing and
operation of water infrastructure systems. The Company's
technology-based water solutions include
Clearford One® wastewater infrastructure systems,
Clearford M-brane™ packaged treatment solutions, and a full range
of UV Pure® water disinfection products. For more
information, 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 factors; 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.
www.clearford.com
SOURCE Clearford Water Systems Inc.