Ottawa – February 13, 2014 – BluMetric Environmental Inc. (TSX-V: BLM), an Ottawa-based cleantech company, announces the completion of the purchase of an office building at 3096 Carp Road Ottawa, immediately adjacent to the Company’s headquarters. The property will consolidate Ottawa staff from three leased premises in the city, and will result in a substantial reduction in the Company’s overall occupancy costs – a key element in BluMetric’s near-term financial strategy.
“This consolidation of activity on the Carp Road figures prominently in the area business association’s ‘Cleantech in the Carp Road Corridor’ initiative,” said co-CEO Roger Woeller. “Cleantech is an economic development priority for the City of Ottawa. Along with the business association, BluMetric and other area companies are working with the City’s economic development agency, Invest Ottawa, on specific economic development efforts that will attract clean water expertise, research, and business activity to the area. For BluMetric, the move of our Ottawa activities to one location will result in significant operational efficiencies. It brings together our divisional engineering, project management, and corporate financial groups, which will improve internal communication.”
Financing assistance to complete the purchase was provided by the Business Development Bank Canada by way of a mortgage of $700,000, with repayment over 15 years.
BluMetric, a cleantech company, delivers sustainable solutions to complex environmental issues. The Company serves clients in many industrial sectors, and at all levels of government, in Canada and abroad.
BluMetric operates through two divisions:
More information can be obtained at www.blumetric.ca
Neither 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. The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
Ian W. Malone, CFO
Tel: (613) 839-4028 x121
Fax: (613) 839-5376
Robin M. Sundstrom
IRonside Investor Relations
Tel: (647) 822-8111