Current Water Technologies Financial Update
GUELPH, Ontario, Sept. 08, 2023 (GLOBE NEWSWIRE) — Current Water Technologies Inc. (TSX-V: WATR) (“CWTI” or “the Company” or “the Corporation“), an emerging technology leader in the industrial and municipal wastewaters and drinking water sectors and a manufacturer of premier automated custom pumping systems, provides a corporate update.
By the end of the second quarter, July 31, 2023, the Company had revenue of approximately $1.7 million with net earnings of $465,405. Since the end of the 2nd quarter, the Company has received additional revenue from equipment sales, fees and services exceeding $950,000.
Dr. Gene Shelp, Current Water’s CEO, said, “The company is optimistic that the revenue for the second half of Y2023 will be greater than that during the first half. Management believes the next 24 months will be exciting as successful preliminary testing of its leading edge technologies for the treatment of ammonia and the production of Green Hydrogen transition to on-site demonstration-scale projects and finally commercial installations.”
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 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: [email protected]
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.