PITTSBURGH, PA -- (Marketwired) -- 08/06/15 -- Cardinal Resources Inc. (OTC PINK: CDNL), a global producer of patented, solar powered, community-scale drinking water systems, today announced that it has started work on a long term contract for a mining company in Arizona that will include the installation of its patented Red Bird System, its proprietary solar powered waste water treatment systems, and other sustainable environmental management systems at the site of its original testing of the patented Red Bird Filters. With studies underway, the installation of the initial systems is projected to be completed in the 4th quarter of 2015 and the 1st quarter of 2016.
Commenting on the Company's new multiyear contract, Cardinal Resources CEO, Kevin Jones, said, "Beyond the revenue this project is generating, it will give us an opportunity to demonstrate our technology in the US and its applications for remote sites or companies looking for a sustainable approach for providing clean drinking water and waste water treatment at their facilities. The first field tests of the patented Red Bird Filters occurred at this site back in 2008 and we are excited to be installing full scale systems here in the near future."
Globally this work represents an entry into providing our patented Red Bird System and sustainable waste water treatment systems to socially responsible multinational companies that are looking for ways to provide clean water to their operations and the communities surrounding their operations. This has significant market potential without the long lead time in government contracting. For example, one international mining company in the Gold Coast of Ghana, which Cardinal Resources has worked for in the past has asked for a proposal for over 30 combined systems. The Company's projections and pipeline indicated that these industrial customers represent an annual market potential of over $25 million in the markets where we are currently active.
Cardinal Resources will continue to update its shareholders on its progress in the weeks ahead.
About Cardinal Resources
Cardinal Resources brings a unique blend of experience, technology, and focus to projects worldwide and across the United States from its office in the Pittsburgh, Pennsylvania area. Its commitment to Clean Water, Clean Environment, Worldwide includes the patented Red Bird System, a solar-powered community-sized drinking water system, and the Grey Bird Approach to wastewater treatment and green infrastructure as well as a deep range of traditional environmental and engineering services. For more info, visit us at www.cardinalres.com.
Certain statements in this presentation constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, such as business and political conditions in the geographic areas in which we sell our products, weather and natural disasters, changing interpretations of generally accepted accounting principles; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which we are engaged.
The information set forth herein should be read in light of such risks. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this presentation and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company¹s expectations.
Source: Cardinal Resources Inc.