GUELPH, Ontario, April 03, 2019 (GLOBE NEWSWIRE) -- 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 announce that it will receive
funding of up to $120,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
In May 2018, CWTI participated in a trade mission to Hebei Province in China sponsored by the Canada China Trade
Innovation Alliance (CCTIA). Through the support of local government officials, CWTI was able to identify numerous industries in
Hebei province interested in partnering with CWTI to perform testing using CWTI’s patented water treatment systems. With
research and development funding from NRC IRAP, CWTI is constructing a mobile demonstration unit which will be shipped to the
partners’ sites in Hebei Province, China. Test programs will be designed to demonstrate the efficacy of the system to treat various
water streams in order to produce high purity boiler feedwater.
Dr. Gene Shelp, President and CEO of Current Water Technologies, commented that, “This most recent investment in
Current Water by NRC IRAP builds upon a history of support from the Government of Canada for Current Water’s suite of leading-edge
electrochemical technologies. This funding allows CWTI to carry out the necessary research and development work to build a mobile
demonstration unit which will prove the efficacy of its innovative water treatment system to its partners in China under
site-specific water conditions. CWTI would like to thank NRC IRAP and the Government of Canada for this funding and their continued
support of emerging Canadian technology companies.”
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 operates as a division of the Company and continues 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.
