ENPAR appeals arbitration decision

About this update from Current Water Technologies Inc

[{"type":"text","content":"\n\n\n\nTORONTO, Dec. 29 /CNW/ - ENPAR Technologies Inc. (TSX-V: ENP) ("ENPAR")\nwishes to report that the Company has appealed the recent arbitration decision\ndeclaring that its non-exclusive license agreement with Biosource Inc. had\nbeen properly terminated on July 10, 2007 for failure to meet the Agreement\nnet sales target for 2006.\n\n\nThe basis for this decision was a ruling that cash-based accounting must\nbe used to report revenue rather than the accrual method employed by ENPAR.\n\n\nShareholders will be kept informed of the appeal on a timely basis.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release.\n\n\nENPAR is a "Technology Company" applying its patented and proprietary\n"Electrochemical Technologies" to the treatment of waste water and drinking\nwater contaminated by metals or nutrients i.e., nitrate/ammonia associated\nwith the mining, metal processing, chemical, agricultural, municipal and waste\nmanagement sectors. The common shares trade on Tier ll of the TSX Venture\nExchange under the symbol "ENP".\n\n\n-------------------------------------------------------------------------\n\n\nThis news release contains forward-looking statements within the meaning\nof the "safe harbour" provisions of the Private Securities Litigation Reform\nAct of 1995. These forward-looking statements are subject to risks and\nuncertainties and other factors that may cause ENPAR Technologies Inc. results\nto differ materially from expectations. These include risks relating to market\nfluctuations, property performance and other risks. These forward-looking\nstatements speak only as of the date hereof.\n\n\n","length":1840,"tagName":"div"}]

More updates from Current Water Technologies Inc