Water Technologies Q1 Update Current Positive Sales Exceed $1.3M in January/February

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GUELPH, Ontario, March 01, 2022 (GLOBE NEWSWIRE) — Current Water Technologies Inc. (TSX-V: WATR) (“CWTI” Where “the company” Where “the society“), an emerging technology leader in the management of industrial and municipal wastewater and drinking water resources, provides a company update.

The company’s Pumptronics division reported strong commercial sales in the first quarter of 2022, despite ongoing COVID-related restrictions. Pumptronics has received purchase orders for two state-of-the-art custom designed and built automated pump stations to be installed in Western Canada. The first, a stormwater pump station ($648,000), is to be installed in Calgary, Alberta, and the second, a transfer pump station ($278,150), is to be installed in the town of Chestermere, in Alberta. The current manufacturing pipeline for small pump stations also includes additional sales of $76,000.

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CWTI has also seen strong commercial success for 2022, which includes an approximately $250,000 contract from Highland Engineering to develop its patent-pending novel AmmEl-H₂ (see press release February 1, 2022) and the purchase of a second state-of-the-art AmmEl-Aqua system ($46,000) with the signing of the definitive sales and marketing agreement with Partners Ship Nature’s Way Inc. and GIS Ventures (see February 22, 2022 press release).

Dr. Gene Shelp, CEO of Current Water, said, “The company is off to a strong start to 2022 and expects continued long-term future sales growth for CWTI and Pumptronics.

Neither 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.

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About Current Water Technologies Inc.

Current water technologies is a “technology company” applying its patented and proprietary “electrochemical technologies” to the treatment of wastewater, desalination water and drinking water contaminated with metals or nutrients, i.e. nitrates/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 operate as an integrated pump station manufacturer specializing in custom design and automation.

The Common Shares trade on Level II of the TSX Venture Exchange under the symbol “WATR”.

The TSX Venture Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this release.

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FOR MORE INFORMATION, PLEASE CONTACT:

Dr. Gene S. Shelp, Ph.D., P.Geo.
President and CEO

Tel: (519) 836-6155
Fax: (519) 836-5683
Email: [email protected]
Website: www.currentwatertechnologies.com

Forward-looking statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties and other factors that may cause Current Water Technologies Inc. results significantly different from expectations. These include risks related to market fluctuations, real estate 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 in 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 these forward-looking statements. Current Water believes that the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that such expectations will prove to be correct and such forward-looking statements included or incorporated by reference in 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.