CWTI's Pumptronics Division – Equipment Sales of $517,001
June 29 2020 - 10:22PM
Current Water Technologies Inc. (TSX-V: WATR)
("
CWTI" or "
the Company" or
"
the Corporation"), an emerging technology leader
in the management of industrial and municipal wastewater and
drinking water resources, is pleased to report that Pumptronics
Incorporated (“
Pumptronics”), CWTI's 100% owned
subsidiary, generated equipment sales totaling $517,001 during
Q1/Q2, 2020.
Private Placement – closed May 15, 2020
In connection with the Private Placement which
closed on May 15, 2020, the Company paid finder's fees consisting
of cash payments equal to 6% of the aggregate proceeds and 6% of
granted warrants, at a price of $0.05 exercisable for a period of 5
years from the date of close, from subscriptions arranged by the
Finders for an aggregate total of $10,800 cash and 540,000 share
purchase warrants.
COVID-19 Update:
2020 is a time of unique challenges globally.
Ontario remains a hot spot for COVID -19 with the government
recommending protective measures for businesses and the general
public. In order to address the potential risks to staff, CWTI
suspended operations during April – May, 2020. The Company reopened
in late May and remains vigilant in protecting our staff by
adopting strict distancing rules and good hygiene practices.
Director Resigns:
Mr. Peter Kennedy, who joined the Board of
Directors of CWTI in September 2018, has tendered his resignation.
We thank Mr. Kennedy for his contribution during his tenure.
Neither the TSX Venture Exchange Inc. 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 Current Water Technologies
Inc.
Current Water Technologies is a
“Technology Company” applying its patented and proprietary
“Electrochemical Technologies” to the treatment of waste water,
desalination water and drinking water contaminated by metals or
nutrients, i.e., nitrate/ammonia associated with the mining, metal
processing, chemical, agricultural, municipal and waste management
sectors.
Pumptronics Incorporated, a
division of CWTI, is an integrated pump station manufacturer that
specializes in custom design and automation.
The common shares trade on Tier ll of the TSX
Venture Exchange under the symbol “WATR”.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dr. Gene S. Shelp, Ph.D., P.Geo.President and
CEO
Tel: (519) 836-6155Fax: (519) 836-5683E-mail:
gshelp@currentwatertechnologies.comWeb Site:
www.currentwatertechnologies.com
Forward Looking Statements
This news release contains forward-looking
statements within the meaning of the “safe harbour” provisions of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties
and other factors that may cause Current Water Technologies Inc.
results to differ materially from expectations. These include risks
relating to market fluctuations, property performance and other
risks. These forward-looking statements speak only as of the date
hereof. Certain statements contained in this press release and
in certain documents incorporated by reference into this press
release constitute forward-looking statements. The use of any of
the words "anticipate", "continue", "estimate", "expect", "may",
"will", "project", "should", "believe" and "confident" and similar
expressions are intended to identify forward-looking statements.
These statements involve known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements. Current Water believes that the expectations reflected
in those forward-looking statements are reasonable but no assurance
can be given that these expectations will prove to be correct and
such forward-looking statements included in, or incorporated by
reference into, this press release should not be unduly relied
upon. These statements speak only as of the date of this press
release. Current Water undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
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