Fort Worth, TX, Oct. 16, 2019 (GLOBE NEWSWIRE) -- Company Signs $11 Million in New Contracts in Last 45 Days
Three HydraSpin Units Now Operational at Customer Sites
via NEWMEDIAWIRE -- Water Now, Inc. (“Water Now” or the “Company”) (OTCQB: WTNW) a leading water purification solutions company, announced today that it has reached an agreement with a local oil and gas management company, for the installation of its HydraSpin Mobile cleaning units at two locations. The Company’s HydraSpin units will be placed at one active as well as one inactive cleanup site. With more than a thousand similar sites throughout the United States, the company expects to sign additional agreements to clean inactive and active disposal locations. Under the terms of these agreements, the company will split the proceeds 50/50 from all oil recovered and sold in the market.
Since September 5, 2019, the company has executed 3 new contracts with value in excess of $11M over the next two years. As previously stated, seven additional HydraSpin Mobile HS5500 Units are expected to be delivered to the Port of Houston from African Horizon Technologies (AHT) of South Africa during the month of November. It is expected to see revenues increasing significantly in November and continuing into 2020.
Forward Looking Statements
Statements in this press release contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements Water Now, Inc. to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Water Now, Inc. assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission ("SEC"). There may be other factors not mentioned above or included in the Water Now's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement. Water Now, Inc. assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.
Investor Relations Contact:
Porter, LeVay & Rose
Michael Porter
212-564-4700
waternow@plrinvest.com