TORONTO, Aug. 25, 2015 /CNW/ - Mitec Technologies Inc.
("Mitec") announces that it recently received correspondence from
the United States Environmental Protection Agency (the "EPA")
involving a legacy environmental issue at a site in Williston, Vermont in which Mitec has had some
prior involvement.
The issue was brought to Mitec's attention although a separate
entity other than Mitec leased a building and operated a facility
in Williston in the late 1980s for
several years. Nevertheless, Mitec has actively worked with
all parties over many years in attempts to resolve the issues,
including entering into a settlement agreement as recently as 2009
and having made payments to mitigate any potential
liability.
At the present time, the site involved has been approved for
public funding for further investigation and developing a
remediation plan under existing EPA programs and subject to their
criteria for choosing a cleanup plan.
Mitec is not aware of any potential liability at this time relating
to this matter.
This news release contains forward-looking statements which
reflect Mitec's current expectations regarding future events. The
forward-looking statements are often, but not always, identified by
the use of words such as "seek", "anticipate", "plan, "estimate",
"expect", "intend" and statements that an event or result "may",
"will", "should", "could" or "might" occur or be achieved and other
similar expressions. These forward-looking statements involve risk
and uncertainties, including the difficulty in predicting product
approvals, acceptance of and demands for new products, the impact
of the products and pricing strategies of competitors, delays in
developing and launching new products, the regulatory environment,
fluctuations in operating results and other risks, any of which
could cause results, performance, or achievements to differ
materially from the results discussed or implied in the
forward-looking statements. Many risks are inherent in the
industry; others are more specific to Mitec. Investors should
consult Mitec's ongoing quarterly filings for additional
information on risks and uncertainties relating to these
forward-looking statements. Investors should not place undue
reliance on any forward-looking statements. The Mitec assumes no
obligation to update or alter any forward-looking statements
whether as a result of new information, further events or
otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
The Company seeks safe harbor.
SOURCE Mitec Technologies Inc.