GUELPH, Ontario, April 03, 2018 (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 Mr. Bertan Atalay will join the Company as its Chief Financial Officer and Director.
Mr. Atalay has held leadership positions in public and private corporations in Canada and the USA, as well as in Europe. He has helped to structure and place more than $4.5bn in limited and non-recourse project finance and led the raising of more than $150mn in start-up, seed and working capital equity in the infrastructure and energy sectors. He has also participated in a number of M&A transactions in the oil and gas, renewable energy and infrastructure sectors covering much of the value chain.
Following his engineering career at Golder Associates Ltd. of Canada, where he served clients in mining, metals, utilities and municipal fields, Mr. Atalay spent more than 25 years at Shell in Amsterdam and Enron in London in various capacities. Most recently, he was the co-founder and CFO of Europe’s first underground natural gas storage business in Germany, which was headquartered in the Netherlands. Mr. Atalay is a qualified Professional Engineer (BC) and has a MBA in Finance from the University of British Columbia. He was also an exchange scholar of the London Business School.
Commenting on Mr. Atalay’s appointment, Founder and CEO of Current Water Technologies, Dr. Shelp said, “We are very pleased to have Bertan join the Company as the CFO. He brings strong financial and transformational leadership skills and a wealth of industrial experience to the Company. Having Bertan at Current Water Technologies will enable us to further commercialize and expand our world leading technologies.”
In connection with the appointment of Mr. Atalay, Mr. Edward Tsang, who has resigned his position as CFO, will remain a director of the Company.
In association with his assignment, CWTI has granted Mr. Atalay 750,000 options with an exercise price of $0.20 and a 5-year term.
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 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
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.
Source:Current Water Technologies Inc.