Scottsdale 9/13/2013 3:00:00 AM
Quest Water Global (QWTR) Provides Shareholder Update Focused on South Africa Installation Talks
QualityStocks would like to highlight Quest Water Solutions Inc. (OTCQB: QWTR), a vertically integrated, innovative water technology company, committed to creating cost-effective, sustainable, and environmentally sound solutions to meet the growing demand for fresh water. The company is comprised of multiple segments of the water industry: water extraction, water purification, water supply, and water recovery. The company’s three innovative water technologies are each energy-efficient, cost-competitive, and environmentally sound.
In the company’s news,
Quest Water Global has issued a corporate update to its shareholders.
QWTR says it is negotiating a final agreement with the Ministry of Industry and the Ministry of Energy & Water to install AQUAtap™ Community Drinking Water Stations in rural communities throughout Angola and to construct an AQUAtap™ fabrication and assembly facility in the country.
QWTR was among 10 Canadian companies and several mining and oil and gas firms that earlier this year were part of a Canadian Business Mission to Angola arranged by the Canadian Trade Commissioner in Johannesburg, South Africa.
By invitation from the office of vice president of Angola, QWTR presented its business case to a special committee consisting of 12 Angolan Secretaries of State and technical personnel, chaired by the senior business advisor to the vice president. The special committee has recommended to the vice president a move forward strategy for QWTR and its Angolan subsidiary Aquatap Industrial Lda.
“From Quest Water’s standpoint the presentation was extremely successful, and another key milestone in further advancing our negotiations with Angola, and proceeding with construction of an AQUAtap™ fabrication and assembly facility in the Viana Industrial Park, 30 kilometers east of Angola’s capital Luanda,” QWTR CEO John Balanko stated in the press release. “The Business Mission also provided us an opportunity to meet with Angola’s new Minister of Industry, Bernarda Gonçalves Henriques da Silva Martins, and other government officials further enhancing our good working relationship with Angola.”
The vice president’s senior business advisor is now reviewing the special committee’s recommendations and is expected to reconvene to finalize the form of the agreement QWTR to construct the assembly facility and commence the purchase of AQUAtap Community Drinking Water Stations in the country.
QWTR said it plans on returning to Angola in the near future to meet with government officials and representatives of the African Development Bank, and to further negotiations with potential local partners who will launch the project at the local level and earn an equity position in the Angolan subsidiary.
The company also said it has received an invitation to meet with the prime minister and the Minister of Water of Lesotho to discuss the construction of an AQUAtap™ fabrication and assembly facility in the South African nation. QWTR has submitted a proposal to Lesotho’s Ministry of Water and is in discussions with government officials for project funding.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
