CCR TECHNOLOGIES LTD.
TSX : CRL

CCR TECHNOLOGIES LTD.

May 14, 2008 18:58 ET

CCR Technologies Ltd. Reports First Quarter 2008 Results

CALGARY, ALBERTA--(Marketwire - May 14, 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 March 31, 2008.

For the three months ended March 31, 2008, the Corporation reported revenue of $1,251,000 resulting in a net loss of $1,296,000 as compared to revenue of $1,553,344 and a net loss of $1,624,000 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 Tom Coyne noted that the Company's results during this quarter "continued to be adversely affected by problems experienced by a client at a plant in Egypt where we have an ongoing mobile reclaiming services project. However, by the end of the quarter, much progress had been made toward resolving them, and our production volumes, though still below our target, had significantly improved."

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.
    Tom Coyne
    President and CEO
    (403) 543-6699
    Website: www.reclaim.com