Augusta Industries Inc.
TSX VENTURE : AAO

June 01, 2016 10:00 ET

Augusta Industries Inc.: Trans Africa Pipeline Moves Forward With MOU

TORONTO, ONTARIO--(Marketwired - June 1, 2016) - Augusta Industries Inc. (the "Corporation") (TSX VENTURE:AAO) is pleased to announce that the Trans Africa Pipeline ("T.A.P.") group has entered into a memorandum of understanding with the Government of the Islamic Republic of Mauritania whereby T.A.P. and the Mauritanian Government have agreed to work together to construct a fresh water pipeline, associated solar power plants and desalination of sea water facilities to move potable water from the coast of Mauritania into the Sahel region for distribution to communities and for use in agricultural projects (the "Project"). In furtherance of the Project, T.A.P. has appointed a contractor who will be issuing requests for proposals ("RFP") which will include a RFP for the monitoring of the fresh water pipeline. The Corporation, thru its wholly-owned subsidiary, Fox-Tek Canada Inc., intends to submit a proposal to T.A.P. based on the specifications provided by the contractor and will collaborate with the Project design company with respect to the monitoring of the pipeline.

The Corporation will be providing T.A.P. with non-intrusive sensing equipment which will verify the integrity of the pipeline composite at key locations. In addition to the non-intrusive sensing equipment will provide a number of optical based sensing technologies which would allow T.A.P. to monitor the right of way zones from possible third-party intrusions.

"The Corporation is very excited that the Project is moving forward and a memorandum of understanding has been entered into with the Mauritanian Government," said Allen Lone, President of the Corporation. "The Corporation is honored to have been invited to submit a proposal to provide a solution for T.A.P.'s first phase of the Project. The Corporation is looking forward to partnering with T.A.P. and being able to provide T.A.P. with the technologies and solutions that will enable T.A.P. to succeed with the Project."

About the Trans Africa Pipeline

T.A.P. is a non-profit organization based in Canada dedicated to the long-term eradication of drought in the Sahel region of sub-Saharan Africa. This will be achieved via the construction of a continuous fresh-water pipeline to run across the entire continent, supplied by concentrated solar-powered desalination plants located on each coast. In addition to distributing clean water to communities across the Sahel in perpetuity, T.A.P. will also provide vital energy resources, reduce desertification and the impact of climate change, spur significant local employment and engender the emergence of a substantial, self-sustaining agricultural base throughout the region. Positioned as the largest humanitarian civil engineering project ever conceived, T.A.P. was founded by Dr. R.C. Tennyson (Professor Emeritus, University of Toronto and aerospace engineer) and Daphne Lavers, journalist and T.A.P. Director of Communications, who together lead an international team of project partners, analysts and advisors.

About the Corporation:

Through its wholly owned subsidiaries, Marcon International Inc. ("Marcon") and Fox-Tek Canada Inc. ("Fox-Tek"), the Corporation provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon's principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon's major clients include Saudi Arabia-Sabic Services (Refining and Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum, Agiba Petroleum and Burullus Gas Co.

Fox Tek develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation's FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and as neither approved nor disapproved the contents of this press release.

This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information