January 15, 2014, Guelph, Ontario. Dr. Gene Shelp, President and CEO of ENPAR Technologies Inc. ("ENPAR" or "the Company"), is pleased to announce that a division of a major Asian corporation ("the Client") has purchased a small-scale ENPAR water treatment system. The Client will assess the technology to determine its applicability towards waste water recycle and reuse within the pulp and paper industry.
Large amounts of water are consumed through processing by the pulp and paper industry. Approximately 85% of the water used in the P&P industry is used as process water, resulting in relatively large quantities of contaminated water and necessitating the use of onsite wastewater treatment solutions. Due to increased attention given to water conservation, strict regulatory constraints are being put in place around the world, making reuse and recycling of these wastewaters more prevalent.
Private Placement Update: To date, the Company has received $80,000 of the $100,000 non-brokered private placement previously announced on December 16, 2013. The Company anticipates closing the private placement prior to the end of January, 2014. The proceeds of this Placement will be used for marketing and for general working capital.
Grant of Stock Options: The Company announces that it has granted 3,975,000 incentive stock options to 2 directors, 4 employees and 1 consultant. The options are exercisable at a price of $0.10 for periods ranging from 2 to 5 years from the date of grant. The grants are subject to acceptance by the TSX Venture Exchange.
The Company currently has an outstanding capital of 86,041,252 common shares with 17,147,214 common shares reserved for issuance on the exercise of outstanding stock options.
ENPAR is a "Technology Company" applying its patented and proprietary "Electrochemical Technologies" to the treatment of waste 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. The common shares trade on Tier ll of the TSX Venture Exchange under the symbol "ENP".
Neither TSX Venture Exchange 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
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.enpar-tech.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 ENPAR 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. ENPAR 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. ENPAR undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.