VANCOUVER, CANADA, Sept. 20, 2018 (GLOBE NEWSWIRE) -- QUEST WATER GLOBAL, INC. (OTC Pink: QWTR) ("Quest" and/or the "Company"), an innovative water technology company and developer of the solar-powered AQUAtap™ water purification, desalination, and distribution technology and WEPS™ WaterMaker Atmospheric Water Extraction and Purification System, announced today an update on current business activities and ongoing operations.
Financial Reporting Requirements and Continuous Disclosure Obligations
On April 23, 2015, the British Columbia Securities Commission (the “BCSC”) issued a cease trade order (the “CTO”) against the Company that applies to investors in Canada. On October 12, 2016, the Company obtained a partial revocation of the CTO in order to complete a private placement financing, raising sufficient funds to prepare and file all of its outstanding disclosure documents including quarterly and annual reports. Although it has taken longer than expected to complete the financing, the Company continues to work diligently towards achieving compliance with its financial reporting requirements and continuous disclosure obligations in both the U.S. and Canada, which will eventually allow the Company to obtain a full revocation of the CTO.
Cape Town, South Africa
The City of Cape Town is currently experiencing its worst drought since 1904. In order to ease the pressure placed on the water supply, municipalities across the Western Cape continue to implement water restrictions. These restrictions heavily impact commercial and industrial users who are required to reduce their water use by 45%. The failure to comply constitutes an offence under the City’s water by-laws.
In response to this, Quest has partnered with a Cape Town organization to market the Company’s products to commercial, industrial, and institutional customers throughout the Western Cape. Together with its partner, the Company recently submitted several proposals allowing businesses to become water independent by installing and implementing various configurations of the Company’s cost-effective AQUAtap™ system utilizing ground water and seawater sources.
Additionally, the Company recently shipped a WEPS™ WaterMaker Atmospheric Water Extraction & Purification system to Cape Town for demonstration purposes. The Company and its partner intend to launch a marketing campaign of the WEPS™ WaterMaker product within the Western Cape, including a website committed solely to this product.
Colombia, Ecuador, Panama and Cuba
Quest recently appointed a new distributor in Colombia to market and sell the Company’s full line of products. The distributor was granted exclusivity in Colombia based on a pre-paid initial order and on a non-exclusive basis in Ecuador, Panama, and Cuba. The initial order of WEPS™ WaterMaker systems has shipped and is expected arrive in Bogota in October 2018. The distributor is developing several sales opportunities, especially within the vicinity of the Caribbean coast of Colombia.
Republic of Haiti
Further to the Company’s press release dated September 8, 2016, Quest is making significant progress with its Build-Own-Operate Business Model. Together with its Haitian partner, the Company is in the process of completing the registration of a new joint venture company in the Caribbean nation. This company plans to supply, install and operate 50 AQUAtap™ systems for the provision and vending of purified drinking water in rural communities within Haiti. Quest’s executives met with and submitted a comprehensive proposal to the Government of Haiti in February 2018 for the formation a Public-Private Partnership (“PPP”) which will assist in the execution of this undertaking. The Company is now negotiating the terms of the PPP to supply clean water to 200,000 people within marginalized rural communities.
In addition, the Company recently shipped a WEPS™ WaterMaker Atmospheric Water Extraction & Purification systems to Haiti for demonstration purposes.
Democratic Republic of Congo
The Company recently received an opportunity to sell AQUAtap™ water purification & distribution systems into the Democratic Republic of Congo in partnership with a large corporation in the capital city of Kinshasa. Quest, together with its proposed partner, is working on the initial pilot project which proposes the installation of one, 80,000 liter per day freshwater AQUAtap™ within a rural community close to the capital city. Once the pilot project is deemed a success, this opportunity has the potential to see further AQUAtap™ installations throughout the country.
Republic of Ghana
The Company, together with its local partner in Accra, are in the submission stage of a proposal to the Government of the Republic of Ghana through The Water Resources Commission and the Ghana Water Company (formerly Ghana Water and Sanitation Corporation) to supply, install, and operate 50 AQUAtap™ systems for the provision and vending of purified drinking water within rural communities of the country.
Canadian First Nations
The Company is working closely with Chief Gibby Jacob & Associates (CGJA) to introduce Quest’s entire line of products to First Nations communities across Canada, representing more than 1.3 million indigenous people. CGJA currently works with corporations and First Nations offering solutions for positive change. These solutions are necessary to build First Nations communities capable of thriving into future generations. CGJA recently launched their corporate website, www.chiefgibbyjacob.com, which will be utilized to promote their partner’s technologies including those of the Company. Quest Water and CGJA are working towards finalizing a partnership agreement which will strengthen their mutual interests.
Advisory Board
Further to the Company’s press release dated September 29, 2016, Quest continues to strengthen its Advisory Board. The Company now features a 6-person Advisory Board that spans many segments of business, indigenous affairs, and the water industry. The newest addition and contributor to the Board is Skwxwú7mesh Úxwumixw (Squamish Nation) hereditary Chief Gilbert ‘Gibby’ Jacob. Chief Jacob is one of the most influential First Nations leaders in Canada and was twice recognized as a significant member of society receiving both the Queens Diamond Jubilee Medal in 2012 and the Senate 150 Anniversary Medal in 2018.
Chief Gibby Jacob helped broker the deal that established the Squamish Lil'wat Cultural Centre in Whistler, British Columbia as well as the Olympic land legacy. Chief Jacob represented Indigenous Peoples on the Vancouver Organizing Committee's Board of Directors for the 2010 Olympic and Paralympic Winter Games.
About Quest Water Global Inc.
Quest Water Global Inc., through its wholly-owned operating subsidiary Quest Water Solutions Inc., is an innovative water technology company that provides sustainable and environmentally sound solutions to water scarce regions. We use proven technologies to create economically viable products that address the critical shortage of clean water in water-scarce regions and developing nations. Quest’s goal is to address the vital issue of water quality and water supply by providing an alternative, sustainable source of pure water at the smallest possible environmental cost, while becoming a leading provider of decentralized, turnkey solutions using alternative energy for the production, purification, desalination, and distribution of clean, potable water. For more information, visit our website at www.QuestWaterSolutions.com.
Notice Regarding Forward Looking Statements
This press release contains projections and forward-looking statements, as that term is defined under applicable securities laws. Statements in this press release, which are not purely historical, are forward-looking statements. These statements are only predictions and involve known and unknown risks which may cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: negative results from the Company's operations; the effects of government regulation on the Company's business; risks associated with the Company's ability to obtain and protect rights to its intellectual property; risks and uncertainties associated with the Company's ability to raise additional capital; loss of management; and other factors beyond the Company's control. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity or performance. Further, any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all such factors and to assess in advance the impact of such factors on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Readers should also refer to the risk factor disclosures and other disclosures outlined in the Company's periodic reports filed from time-to-time with the Securities and Exchange Commission on EDGAR at www.sec.gov and with the British Columbia Securities Commission on SEDAR at www.sedar.com.
Source: Quest Water Global, Inc.