June 30, 2009 17:11 ET

CCR Technologies Ltd. Announces Proposed Joint Venture

CALGARY, ALBERTA--(Marketwire - June 30, 2009) - CCR Technologies Ltd. (TSX:CRL) (the "Corporation") (, a leading chemical purification technology solutions and service provider, today announced that it has entered into a letter of intent with a private party for the establishment of an overseas joint venture for the expansion of services and capital projects utilizing the Corporation's proven proprietary and patented technologies for the reclamation of amines and glycols in the Middle East and North Africa The joint venture will primarily offer fee-based services that will enable the reclamation, purification and reuse of process chemicals (primarily amines and glycols and permanent glycol and amine reclaimers and related services. It is expected that the joint venture shall be operational by August 1, 2009. The obligation of the parties to proceed with the transaction is subject to the preparation, execution and delivery of a formal agreement approved by the board of the Corporation evidencing the terms and conditions for the proposed joint venture, initial capital contribution, additional financing for equipment and working capital and regulatory approvals as required.

The above disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the Corporation's control, including: the impact of general economic conditions in Canada and in countries in which the Corporation and its subsidiaries currently do business, industry conditions, increased competition, the lack of available qualified personnel or management, equipment failures, fluctuations in product prices and in foreign exchange or interest rates and stock market volatility. The Corporation's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Corporation will derive there from.

Contact Information

  • CCR Technologies Ltd.
    Marcel Kessler
    President and CEO
    (403) 543-6699