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ENPAR remains confident of winning arbitration
TORONTO, April 7 /CNW/ - ENPAR Technologies Inc. (TSX-V: ENP) ("ENPAR") wishes to assure its shar...
About this update from Current Water Technologies Inc
[{"type":"text","content":"\n\n\n\nTORONTO, April 7 /CNW/ - ENPAR Technologies Inc. (TSX-V: ENP) ("ENPAR")\nwishes to assure its shareholders that it remains confident of winning the\narbitration against Biosource Inc. ("Biosource") of Worchester, MA, USA.\n\n\nAs previously reported, ENPAR commenced arbitration against Biosource\nfollowing a purported termination by that company of a Non-exclusive License\nAgreement. Public information learned over the past 6 months supports ENPAR's\noriginal belief that a breach of the Agreement was manufactured in order to\nforce renegotiation of the terms.\n\n\nBiosource terminated the recent negotiations related to the acquisition\nof Biosource by ENPAR, following Biosource's failure to adequately address\nENPAR's requests for information during the due diligence process. In\nresponse, ENPAR has filed a formal request with the arbitrator to continue the\narbitration within the next three months.\n\n\nENPAR still believes that the arbitration will confirm its compliance\nwith the Non-exclusive License Agreement and provide the basis for continuance\nof the Agreement in good standing and prevent unjustified allegations of\nnon-compliance in the future, at the time when the technology is\ncommercialized.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\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\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":24...