VANCOUVER, CANADA, May 01, 2019 (GLOBE NEWSWIRE) -- QUEST WATER GLOBAL, INC. (OTC Pink: QWTR) ("Quest" and/or the "Company"), an innovative water technology company and developer of the solar-powered AQUAtap™ water purification, desalination, and distribution technology and the WEPSTM WaterMaker Atmospheric Water Extraction and Purification System, announced today an update to the Company’s press release dated September 20, 2018.
Financial Reporting Requirements and Continuous Disclosure Obligations
Further to the September 20 press release, and in order for Quest to achieve compliance with its financial reporting requirements and continuous disclosure obligations in both the U.S. and Canada, the Company is pleased to announce it has commenced the preparation of its financial statements for the years 2014 – 2019 after having provided payments to the Company’s auditors and accountants. Upon the completion and filing of the audited financials and other outstanding continuous disclosure documents, the Company will apply for a full revocation of the Cease Trade Order (the “CTO”) issued against it in Canada on April 23, 2015 by the British Columbia Securities Commission (the “BCSC”).
Republic of Haiti
Also further to September 20 press release, the Company is pleased to advise that it has completed the registration of its new joint venture company in the Caribbean nation. The purpose of the new entity, known as the Haitian Water Network SA, is to supply, install, and operate 50 AQUAtapTM systems for the provision and vending of purified drinking water to 200,000 underserved people in rural communities within Haiti. The Haiti Water Network SA is currently in discussions with various NGOs and investment funds regarding project financing while also assessing locations for the initial installations.
In March 2019, the Company launched its first home and office WEPSTM WaterMaker atmospheric water extraction and purification system branded the ‘Magic’ as an addition to its vast array of existing commercial and industrial WEPSTM WaterMaker systems. The Company expects demand for this 25 – 30 liter per day system to be significant since its partners and distributors have received continuous requests for a practical solution for use in homes and offices.
About Quest Water Global, Inc.
Quest Water Global, Inc., through its wholly-owned operating subsidiary Quest Water Solutions Inc., is an innovative water technology company that provides sustainable and environmentally sound solutions to water scarce regions. We use proven technologies to create economically viable products that address the critical shortage of clean water in water-scarce regions and developing nations. Quest’s goal is to address the vital issue of water quality and water supply by providing an alternative, sustainable source of pure water at the smallest possible environmental cost, while becoming a leading provider of decentralized, turnkey solutions using alternative energy for the production, purification, desalination, and distribution of clean, potable water. For more information, visit our website at www.QuestWaterSolutions.com
Notice Regarding Forward Looking Statements
This press release contains projections and forward-looking statements, as that term is defined under applicable securities laws. Statements in this press release, which are not purely historical, are forward-looking statements. These statements are only predictions and involve known and unknown risks which may cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: negative results from the Company's operations; the effects of government regulation on the Company's business; risks associated with the Company's ability to obtain and protect rights to its intellectual property; risks and uncertainties associated with the Company's ability to raise additional capital; loss of management; and other factors beyond the Company's control. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity or performance. Further, any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all such factors and to assess in advance the impact of such factors on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Readers should also refer to the risk factor disclosures and other disclosures outlined in the Company's periodic reports filed from time-to-time with the Securities and Exchange Commission on EDGAR at www.sec.gov and with the British Columbia Securities Commission on SEDAR at www.sedar.com.