GUELPH, Ontario, June 08, 2018 (GLOBE NEWSWIRE) -- Current Water Technologies Inc. (TSXV:WATR) (“CWTI” or “the Company”) is pleased to provide an update on its recent trade mission to Hebei Province and Beijing, China. On behalf of the Company, the CWTI team, comprised of Dr. Gene Shelp, President and CEO, and Mr. Edward Tsang, Director, would like to express their sincere appreciation to Ms. Jaclyn Zhang, Chair of the Canada China Trade Innovation Alliance (CCTIA), and her team in Canada, Hebei Province and Beijing, China for an excellent trade mission. The delegation met with: the Honorable Xu Qin, the Governor of Hebei Province (Figure 1); the Mayor of Shijiazhuang, the Capital of Hebei Province; the Provincial Minister of Commerce; the Deputy Minister of Science and Technology; and, several other senior Provincial and Municipal officers.
As previously reported, the Government of China is planning the construction of Xiong'an New District, the Beijing New Airport and facilities required for the 2022 Winter Olympics. CWTI's goal was to meet with like-minded individuals and corporations with interests in innovating and collaborating on opportunities related to these major infrastructure projects.
Following the trade show in Langfang, the CWTI delegation traveled south to Xingtai City, Hebei Province to attend a business investment conference. The delegation met with representatives of the steel industry, for discussions of water management practices and the benefits of CWTI's portfolio of technologies and services.
The final stop was Shijiazhuang, the Capital of Hebei Province, for high level meetings with government officials, a panel of clean-tech experts from Hebei University of Science and Technology, and B2B meetings with leaders of private and state-owned clean-tech companies.
In order to pursue business opportunities in China, CWTI must establish close relationships with leading edge research institutions such as Hebei University of Science and Technology, which serve an important advisory role for governments.
To this end, the CWTI team explained to the Clean-tech panel, the advantages of CWTI's innovative electro-chemical water treatment system over conventional approaches. Based on the success of this meeting and others, Dr. Shelp was invited to attend a ceremony at Hebei University of Science and Technology where he received an official certificate from the University’s President, Dr. Sun Hexu, conferring him the title of Professor (Figure 2). Dr. Shelp and the CWTI technical team look forward to working closely with our colleagues at Hebei University of Science and Technology.
CWTI is currently negotiating with several companies in Hebei Province with the goal of establishing long-term business relationships.
The final day of the trade mission was focused on high level meetings with senior government officials to discuss the path forward.
Jaclyn Zhang, Chair of CCTIA, stated: “I was proud to have Dr. Shelp and Mr. Tsang join CCTIA’s Trade Mission to China. Their excellent presentation and CWTI’s advanced and innovative technologies are attractive to Hebei Province. I believe that there are now several business opportunities for CWTI in China.”
Dr. Shelp commented that, “Mr. Tsang and I were extremely pleased with the outcome of this initial trade mission to Hebei Province. Given the genuine interest in CWTI’s technologies, we expect to return to Hebei Province in late July to execute formal agreements."
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 will operate as a division of the Company and continue to function as an integrated pump station manufacturer specializing in custom design and automation.
The common shares trade on Tier ll of the TSX Venture Exchange under the symbol “WATR”.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dr. Gene S. Shelp, Ph.D., P.Geo. President and CEO
Tel: (519) 836-6155 Fax: (519) 836-5683 E-mail: gshelp@currentwatertechnologies.com Web 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.
Photos accompanying this release are available at:
http://www.globenewswire.com/NewsRoom/Attachm...2650590039 http://www.globenewswire.com/NewsRoom/Attachm...8fd8dbcbc0
