OTTAWA, July 30 /CNW Telbec/ - Clearford Industries Inc. ("Clearford", TSX-V: CLI) today announced that SC Stormont Inc. ("Stormont") will not be purchasing the 5,000,000 shares held by Richard Connelly, Clearford's former Chief Technology Officer, in light of the fact that the price under the options is above the current market price and the options have now expired.
"Stormont continues to be enthusiastic about the future of Clearford and to continuing to participate in its growth in the Brooklin Concrete and Wastewater divisions," said Roderick M. Bryden, Chairman and Chief Executive Officer of Stormont.
Any forward looking statements made in this press release involve risks and uncertainties, and actual results could differ materially from those expressed or implied in such statements. However, we disclaim any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. More detailed information of the matters
described herein is included in the public documents Clearford files from
time to time with Canadian securities regulatory authorities.
About Clearford Industries Inc.
Clearford Industries Inc. is comprised of two divisions: the Wastewater Systems Division and the Brooklin Concrete Division. The Wastewater Systems Division designs and implements the patented Small Bore Sewer(TM) (SBS(TM)), a watertight small diameter wastewater collection system for developers, municipalities and First Nations communities who need to create, expand or upgrade their sewage systems. This solution provides servicing with superior operational and environmental performance at a significantly lower cost when compared to historic gravity sewers. With its first installation in 1989, the SBS(TM) has since had several installations within Canada and the U.S. The Brooklin Concrete Division has been in operation since 1952, with 4 locations in Ontario, including: Brooklin, Newmarket, Huntsville and Haliburton. A leading producer of septic tanks in Ontario, Brooklin manufactures precast concrete products ranging from interlocking pavers and patio slabs, to retaining walls and storage structures. For more information on Clearford Industries Inc., please visit www.clearford.com.