VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 30, 2016) - Targeted Microwave Solutions Inc. (TSX VENTURE:TMS)(OTCQX:TGTMF) ("TMS") announced today that, further to its previous news release, following a tender process and internal review of several competitive bids, TMS has awarded the Generation III reactor module fabrication contract to a well- respected US-based company (the "Successful Bidder"). The Successful Bidder is a metal fabrication company with decades of experience completing challenging prototype projects that require precise laser cutting, computer numerical controlled milling, and robotic welding. Beyond completing the fabrication work, the Successful Bidder is expected to assist TMS further analyze and review the Gen III mass flow improvements using 3 Dimensional software modeling.
Dr. James Young, Chairman of the Board, stated: "I was very pleased with the quality of the bids submitted for the Gen III fabrication project, and the aggressive pace at which our technical team is pursuing installation and commissioning of the Gen III project. The completion of the Gen III system is currently TMS's top priority. The successful bidder has an excellent reputation for high quality work, and we look forward to receiving timely delivery of the finished Gen III reactor modules."
About Targeted Microwave Solutions Inc.
TMS is a microwave process developer specializing in clean emission, high-throughput industrial drying solutions. TMS's proprietary microwave beneficiation systems are being developed to specifically address the increasing environmental costs of a cornerstone of the global manufacturing and processing economy, industrial drying. The TMS process represents a unique, vertical microwave system that may be deployed to dry, re-size and calcinate industrial aggregates at high throughput capacity. TMS believes that its technology will allow for superior energy efficiency, process control and a clean emission profile, allowing TMS to deliver effective drying solutions that can fundamentally challenge the mainstream narrative that large-scale industry is incompatible with responsible, environmental policy. TMS has completed constructing a commercial-scale facility in King William County, Virginia, U.S.A. and has entered into joint ventures for China and India to develop and market its technology.
On behalf of the Board of Directors,
Dr. James Young, Chairman of the Board of Directors
This news release contains certain statements which are, or may be deemed to be "forward-looking statements". Forward-looking statements are statements that address or discuss activities, events or developments that we expect or anticipate may occur in the future. Forward-looking statements consist of statements that are not purely historical and, in this news release, include, without limitation, statements regarding the expected benefits of the Gen III system, the timing of expected construction and commissioning of the Gen III system and our planned commercial deployment efforts. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "projects", "will", "believes", "intends", "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements. Forward- looking statements reflect the then-current expectations, beliefs, assumptions, estimates and forecasts of our management. Because forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict, our actual results, performance or achievements or the actual results or performance of the industries and markets in which we operate and intend to operate may be materially different from those anticipated in our forward-looking statements. Forward-looking statements involve significant uncertainties and risks, should not be read as a guarantee of future performance or results and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in our forward- looking statements, including the matters described in our public filings available on SEDAR at www.sedar.com. Accordingly, readers should exercise caution in relying upon our forward-looking statements and we undertake no obligation to publicly revise such statements to reflect subsequent events or circumstances, except as required by law.
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