Mr. Matt Gowanlock reports
CLEANTEK INDUSTRIES INC. ANNOUNCES A TWELVE-MONTH EXTENSION OF CREDIT FACILITY
Cleantek Industries Inc. has extended by 12 months its credit facility with its current Canadian private debt lender. While the size of the term facility remains unchanged at $7.5-million, the revolving line of credit has been increased by $500,000 from a maximum of $2.5-million to a maximum of $3-million, providing the company access to additional liquidity over the new term. All other commercial terms associated with the credit facility remain the same as the original agreement.
"We are happy to finalize this extension with our current Canadian private debt lender," said Matt Gowanlock, chief executive officer of Cleantek. "We continue to maintain an excellent working relationship with our lenders, and this extension will provide the needed flexibility moving forward."
About Cleantek Industries Inc.
Cleantek is a clean energy technology company focused on environmental, social and governance accretive technology solutions with operations across North America. Cleantek has developed and commercialized its patented waste water dehydration technology, the ZeroE, which it rents to its customers for use at gas processing facilities and on drilling rigs focused on hydrosustainability. Cleantek's ZeroE technology separates waste water into: (i) clean water, which is evaporated and returned to the natural hydrological cycle; and (ii) concentrated brine, which is disposed of using traditional means. The ZeroE technology is powered by the waste heat generated from the engine exhaust of gas plants and drilling rigs. Complementing Cleantek's ZeroE technology is the suit of low-carbon light-emitting-diode lighting systems containing its patented solar hybrid lighting systems and Halo crown-mounted lighting systems.
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