Seprotech announces increase of $4.52M on available funds under existing contract with Canadian Military

    




 OTTAWA, April 13, 2012 /CNW/ - Seprotech Systems Inc. is pleased to  announce that the Department of National Defence (DND) has increased  the available and confirmed funding by $4.52 million under an existing  contract (previously announced on June 24, 2011). 

 The contract is for repair and overhaul, engineering support and field  service support for two classes of water purification systems owned and  operated by DND. The increase of $4.52M combined with the unused budget  for the 2011 FY (due to mid-year award of the contract) brings  confirmed and immediately accessible funds to approximately $10.8M of  the $14M total budgeted funds under the contract. Actual projects  undertaken by Seprotech and expenditures related thereto are subject to  DND approval. 

 The original term of the contract was for 2 years with three possible  1-year extensions estimated at $2.8M per year for an estimated total  potential value over the five years of $14,000,000. While the overall  maximum budget remains unchanged, the increased allocation  significantly increases the potential activity which might now be  directed to Seprotech over the near term. 

 "We are very pleased to have these additional funds allocated and  confirmed much earlier in the contract and this clearly demonstrates  the high degree of confidence that DND places in Seprotech" said Harry  Marshall, President & CEO of Seprotech. "Following a year in which the  Canadian Forces have performed important water supply missions in  various parts of the world the team at Seprotech is delighted that the  high standard of work expected by the Canadian Military has been  recognized." 

 The final amount spent in any given year is at DND's discretion and  varies according to military needs. The contract provides the Canadian  Forces with immediate response and support to their equipment  requirements. 

 About Seprotech: 

 Seprotech is a provider of pre-engineered water and wastewater treatment  solutions to the municipal/land development, resource sector and  military market place, including Reverse Osmosis water purification  systems, ROTORDISK® biological sewage treatment package plants and  CrystalBlue™ membrane-based water recycling systems. 

  

 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.  The TSX Venture Exchange has neither approved nor disapproved of the  information contained herein. Some of the statements in this press  release, including those relating to the Company's strategies and other  statements that are predictive in nature, that depend upon or refer to  future events or conditions, or that include words such as "expects",  "anticipates", "intends", "plans", "believes", "estimates" or similar  expressions, are forward-looking statements within the meaning of  securities laws. Forward-looking statements include, without  limitation, the information concerning possible or assumed future  results of operations of the Company. These statements are not  historical facts but instead represent only the Company's expectations,  estimates and projections regarding future events. The Company does not  undertake any obligation to update or release any revisions to these  forward-looking statements to reflect events or circumstances after the  date of this presentation or to reflect the occurrence of unanticipated  events, except as required by law. 

Seprotech Systems Incorporated


CONTACT:  Ian Malone, Chief Financial OfficerTel: [phone] x12Fax: [phone]  


    

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