Key Developments: BluMetric Environmental Inc (SEPOF.PK)
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Latest Key Developments (Source: Significant Developments)
BluMetric Environmental Inc Secures $1.38 Million Water Contract-Canada Stockwatch
Canada Stockwatch reported that Blumetric Environmental Inc. has been awarded a $1.38-million (U.S.) contract to supply a reverse-osmosis system to deliver process water at a new facility for a diversified industrial chemicals producer in Peru. The Blumetric reverse-osmosis system will provide up to three million litres per day of processed water. Full Article
BluMetric Environmental Inc Secures Standing Offer Contract With Canadian Navy Valued At Up To $11.5 Million
BluMetric Environmental Inc announced that the Department of National Defence has awarded a Contract to the Company valued at up to $11.5 million. BluMetric was selected to provide Repair and Overhaul Services, Engineering support and Field Service support for the Canadian Navy's Shipboard Reverse Osmosis Desalination (SROD) systems for up to 5 years. The Contract is for a three-year period totalling $6.9 million with two possible one-year extensions of up to $ 2.3 million each year. The total potential value of the five-year Contract is $11.5 million. The final amount spent in any given year is at DND's discretion, such amount varying according to the Navy's needs. The Contract process provides the Canadian Forces with immediate response and support to their equipment requirements. The Company has been awarded similar Contracts by DND in the past, including for the equipment in this new Contract and for the Army's Reverse Osmosis Water Purification Units (ROWPU). Full Article
Seprotech Systems Inc Approve Acquisition Of Wesa Group Inc. By Reverse Take Over
Seprotech Systems Inc announced that at the Company's special meeting of shareholders held on October 24, 2012, the shareholders approved, subject to the final approval of the TSX Venture Exchange, the proposed acquisition of WESA Group Inc. (WESA). The resolution was approved by a majority of the votes cast by shareholders, excluding the votes cast by any shareholders required to be excluded from voting. Pursuant to the share exchange agreement, Seprotech will acquire 100% of privately held WESA in a reverse takeover (the "Transaction"). Upon completion of the Transaction, the combined entity (the "Resulting Issuer") is expected to be a leading provider of earth science and environmental engineering services, and wastewater and water treatment systems. The intent is to build an integrated product and service organization that provides intelligent solutions to complex environmental problems both in Canada and abroad. Full Article
WESA Group Inc. And Seprotech Systems Inc Announce Letter Of Intent For Proposed Merger
Seprotech Systems Inc (Seprotech) and WESA Group Inc. (WESA) announced that they have entered into a non-binding letter of intent under which Seprotech will acquire 100% of privately-held WESA in a reverse takeover (Transaction). Upon completion of the Transaction, the combined entity (Resulting Issuer) is expected to be a provider of earth sciences, water resources and environmental engineering services, and wastewater/water treatment systems. The intent is to build an integrated Product and Service organization that provides intelligent solutions to complex environmental problems both in Canada and abroad. The Transaction is an arm's length transaction and will constitute a reverse-takeover pursuant to the policies of the TSX Venture Exchange (TSX.V). The proposed transaction is expected to take place no later than August 31, 2012. Full Article
Seprotech Systems Inc Announces Resignation Of President And Chief Operating Officer
Seprotech Systems Inc announced that Stefan has resigned from his position of President and Chief Operating Officer, effective April 30, 2012, and will pursue other interests. Mr. Harry J. Marshall, CEO will also assume the title of President. Full Article
Consortium Lead By Seprotech Systems Inc Secures Middle-East Contract Valued At $4 Million
Seprotech Systems Inc announced that a Canadian Consortium lead by the Company and including WESA Group Inc. of Ottawa , Ontario, has been awarded a contract in the Middle-East valued at approximately $4 Million CAD for environmental engineering and construction supervision services. The contract is for a Naturally Engineered Wastewater Treatment (NEWT) system at an industrial facility currently under construction for a bauxite mine and aluminum smelter in the Kingdom of Saudi Arabia . Full Article
Seprotech Systems Inc Appoints Harry Marshall As CEO
Seprotech Systems Inc announced the appointment of Harry J. Marshall as the Chief Executive Officer (CEO) Mr. Marshall will be part-time until the end of the year as he winds down his current obligations at WESA Tech, becoming a full-time employee January 1. Mr. Grant concurrently resigned as interim CEO and will retain his position of Board Chair. Full Article
Seprotech Systems Inc Completes Private Placement
Seprotech Systems Inc announced that it has completed its previously announced non-brokered private placement offering (Offering) for the maximum targeted gross proceeds of $600,000 . The Offering, which was available only to accredited investors was for 12,000,000 common shares at $0.05 per share. Also as previously announced, companies controlled by an Insider of the Corporation, Jordan Grant , Chairman and CEO and a director of the Corporation, participated in the Offering for 2,000,000 common shares representing 16.7% of the Offering. In addition, Mr William Touzel, a director of the Corporation purchased 500,000 common shares representing 4.2% of the Offering. Mr. Grant 's companies and Mr. Touzel each participated in the Offering on the same terms and conditions as the other subscribers. Proceeds from the private placement will be utilized to fund production of several new contracts recently awarded to the Corporation, as well as funding overhead pending commencement of cash flow from such contracts, and for repayment of normal course trade and bank debt. Full Article
Seprotech Systems Inc Announces Private Placement
Seprotech Systems Inc announced a non-brokered private placement offering (Offering) of common shares at $0.05 per share to accredited investors to raise gross proceeds of a minimum of $400,000 and up to $600,000. It is anticipated that companies controlled by an Insider of the Company, Seprotech's CEO & Chairman Jordan Grant, will participate in the Offering for up to a maximum of 25% of the Offering. Mr. Grant's companies will participate in the Offering on the same terms and conditions as the other subscribers. The common shares issued pursuant to the Offering will be subject to a four month hold period from the closing date of the Offering. The private placement is subject to the acceptance of the TSX Venture Exchange. Proceeds from the private placement will be utilized as working capital to execute the various contracts announced since June 2011, as well as funding overhead pending commencement of cash flow from such contracts, and for repayment of normal course trade and bank debt. Full Article
Seprotech Systems Inc Secures Contract
Seprotech Systems Inc announced that it has been awarded several new contracts with an aggregate value of approximately $1,025,000.00. Full Article
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