Mitec receives correspondence from EPA

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.