CCR TECHNOLOGIES LTD.
TSX : CRL

CCR TECHNOLOGIES LTD.

August 18, 2008 18:20 ET

CCR Technologies Ltd. Reports First Quarter 2008 Results and Management Changes

CALGARY, ALBERTA--(Marketwire - Aug. 18, 2008) - CCR Technologies Ltd. (TSX:CRL) (the "Corporation") (www.reclaim.com), a leading chemical purification technology solutions and service provider, today announced financial results for the period ended June 30, 2008.

For the three months ended June 30, 2008, the Corporation reported revenue of $1,750,000 resulting in a net loss of $2,090,000 as compared to revenue of $1,745,000 and a net loss of $1,857,000 for the same period in 2007. Complete details of the Corporation's annual financial and related information are available on SEDAR at www.sedar.com.

CCR's CEO and interim CFO Marcel Kessler noted that "we are encouraged by the fact that gross revenues have increased by 40% compared to the previous quarter. This is driven by higher revenues from our service reclamation operations both in North America and in Egypt. Our operating costs, excluding a one-time item, have increased by 28% compared to the previous quarter. Our margins are improving and we are working hard to focus our activities and to streamline and simplify our sales, operating and support processes while looking for further growth."

CCR Technologies Ltd. also announced that Marcel Kessler has been appointed interim CFO of the Corporation replacing Alan D. Mosher, who has left the organization effective July 31, 2008 to pursue other business interests. It is also anticipated that Murray Hinz, CA/CFP, of Calgary, Alberta, will be appointed as Chief Financial Officer of the Corporation on a permanent basis effective August 16, 2008.

Marcel Kessler has also been appointed to the board of directors effective August 11, 2008.

CCR Technologies purifies process chemicals and natural gas through the use of proprietary patented separation technologies. The Corporation provides environmental and economic benefits to the upstream and downstream oil and gas industries, and is also pursuing new environmental business opportunities in other industries and international markets.

Shares of CCR Technologies Ltd. trade on the Toronto Stock Exchange under the symbol "CRL".

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 CCR's control, including: the impact of general economic conditions in Canada and in countries in which CCR 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. CCR'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 CCR will derive there from. The Corporation assumes no obligation to update forward looking statements should circumstances change, except as otherwise required under applicable securities law.

Contact Information

  • CCR Technologies Ltd.
    Marcel Kessler
    President and CEO
    (403) 543-6699
    Website: www.reclaim.com