TORONTO, ON--(Marketwired - March 27, 2017) - STT Enviro Corp. ("STT" or the "Company") (TSX VENTURE: STT) today announced that it has settled a lawsuit with a customer in the United States relating to the cancellation of a contract. The trial date for the matter had been scheduled for May 1, 2017, and the Company decided to settle the matter by agreeing to pay the customer US$650,000 to avoid ongoing legal and related costs, and the risk of a possible adverse decision from the Court. A stipulation notifying the Court of the settlement, which is binding on both parties, has been filed with the Court and such filing has been accepted by the Court.
About STT Enviro Corp.
STT Enviro Corp. (TSX VENTURE: STT) supplies cost-effective, incremental, environmental improvements to traditional industrial products. STT Enviro Corp Systems & Solutions engineers and supplies chemical make-down systems to neutralize pollutants (usually acidity in air or water); and aftermarket services including optimization of chemical use for our customers to lower costs and reduce their carbon footprint. STT Enviro Corp Tanks & Industrial engineers and supplies bolted tanks and silos with a smaller environmental footprint for both dry and liquid storage applications.
For more information, please visit our website at www.sttenvirocorp.com.
Caution Regarding Forward-Looking Information
This news release contains certain forward-looking statements. These statements relate to future events or future performance and reflect management's current expectations and assumptions regarding the growth, results of operations, performance, and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and expectations and are based on information currently available to management of the Company. In particular, statements regarding the future operating results and economic performance are forward-looking statements. Forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements, including risks outlined under "Risk Factors" in our Annual Information Form, which is posted at www.sedar.com. In evaluating these statements, investors should specifically consider various factors, including such risks as Investment Risk; Business Valuations; Condition of Capital Markets; Dependence on Key Personnel; General Economic Factors; Interest Rate Risk; Competition; and Reliance on Key Suppliers. One or more of these "Risk Factors" could cause actual events or results to differ materially from any forward-looking statement. These factors should not be considered exhaustive. Although the forward-looking statements contained in this press release are based on what management of the Company considers to be reasonable assumptions based on information currently available to them, there can be no assurance that actual events or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release, and none of STT nor its directors assume any obligation to update or revise them to reflect new events or circumstances. Undue reliance should not be placed on forward-looking statements.
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