BluMetric Announces $5.3 Million Service Contract Extension for Canadian Department of National Defence Water Purification Systems

Rhea-AI Summary

BluMetric Environmental Inc. announces a $5.3 million increase in scope of work for Department of National Defence contract, highlighting the company's expertise in delivering Mission Ready Water solutions.

Ottawa, Ontario--(Newsfile Corp. - February 16, 2024) - BluMetric Environmental Inc. (TSXV: BLM) ("BluMetric" or "the Company"), a full-service environmental consulting and engineering cleantech firm, announced today that it has signed an amendment to an existing service agreement for Canada's Department of National Defence Reverse Osmosis Water Purification Units (ROWPU). The amendment includes a $5.3 million increase to the scope of work, to be completed in calendar year 2024, which includes on-call field service, support, and maintenance of the water treatment systems.

"The revised contract serves as a testament to the trust the Department of National Defence has in our capacity to deliver Mission Ready Water solutions," said Scott MacFabe, CEO of BluMetric. "Providing robust service and support is essential for missions relying on a resilient cleantech system that delivers water under a variety of challenging circumstances. In addition, these types of contracts are becoming a more important part of our overall growth strategy as we build a larger base of recurring and higher margin revenues."

About BluMetric Environmental Inc.

BluMetric Environmental Inc. is a publicly traded environmental consulting and engineering company with expertise across professional and trade disciplines and technologies that allow for the design, fabrication and delivery of sustainable solutions to environmental and water challenges. BluMetric has more than 180 employees operating in ten offices and over 40 years of expertise. Headquartered in Ottawa, Ontario, BluMetric's team of industry experts serves Commercial and Industrial, Military, Mining and Government clients.

For more information, visit www.blumetric.ca or please contact:

Scott MacFabe, CEO
BluMetric Environmental Inc.
Tel: 1-877-487-8436
Email: smacfabe@blumetric.ca

Dan Hilton, CFO
BluMetric Environmental Inc.
Tel: 1-877-487-8436
Email: dhilton@blumetric.ca

Brandon Chow, Principal & Founder
Otis Investor Relations Inc.
Tel: 1-647-598-8815
Email: brandon@otisir.com

Forward-Looking Statements

Some of the statements in this press release, including those relating to the Company's quarterly and annual results, future products, opportunities and cost initiatives, strategies, and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR+ at www.sedarplus.ca. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198172

FAQ

What is the ticker symbol for BluMetric Environmental Inc.?

The ticker symbol for BluMetric Environmental Inc. is BLM.

What was the announced increase in scope of work for BluMetric Environmental Inc.?

BluMetric Environmental Inc. announced a $5.3 million increase in the scope of work for Canada's Department of National Defence contract.

Who is the CEO of BluMetric Environmental Inc.?

Scott MacFabe is the CEO of BluMetric Environmental Inc.

What services are included in the amended agreement with the Department of National Defence?

The amended agreement includes on-call field service, support, and maintenance of the Reverse Osmosis Water Purification Units.

What is BluMetric's growth strategy mentioned in the press release?

BluMetric's growth strategy involves building a larger base of recurring and higher margin revenues through contracts like the one with the Department of National Defence.