GUELPH, Ontario, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Current Water Technologies Inc. (TSX-V:WATR) (“CWTI” or the “Company”) today announced the overwhelming support received from shareholders by management nominees at its annual meeting (the "Meeting") that was held on September 14, 2018. A record high percentage of common shares was represented at the Meeting: 70.58% of its issued and outstanding shares were voted with 58.8% of these votes supporting management.
All eight (8) management nominees for directors were elected with overwhelming support of the shareholders with approximately 63 million shares voted in favour of the management nominees. These included Nizar Kammourie, Zachery Dingsdale, Peter Kennedy, Bertan Atalay, Dr. Gene Shelp, Edward Tsang, Dr. Barry Shelp, and Sunil Ghorawat.
In addition, shareholders approved the appointment of BDO Canada LLP as auditors.
In the near term, CWTI will continue on a path to becoming a leading industrial waste water treatment service provider in Canada, the USA and the Middle East.
Dr. Gene Shelp, President and CEO stated, "I would like to thank our shareholders for their overwhelming support, record turnout and broad-based endorsement of the Corporation's strategy, directors and management. We are committed to making decisions that deliver tangible results for our Company and its shareholders. We know that there is a lot of work ahead as CWTI continues to grow. Finally, I also wish to acknowledge the dedication and hard work of our employees and the continued support and loyalty of all our stakeholders. Together we will continue to create value for all.”
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.