Cambridge Environmental - Corporate Update.CAMBRIDGE ENVIRONMENT.(VcSE:CVY/ O.T.C. NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CNVSF) At the request of the Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). , CAMBRIDGE ENVIRONMENTAL SYSTEMS INC. announces that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , SKIMMER OIL SEPARATORS LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability ., has received a non-compliance notice from the Alberta Energy and Utilities Board which requires Skimmer to reduce the inventory of solid and liquid wastes currently on site by Nov. 17, 1995. Skimmer is also required to demonstrate a successful performance of its waste processing operations at a throughput rate of 100 cubic metres of dry production sand per day on an ongoing basis. Operations Manager Jim Crowley has confirmed that steps have already been taken to ensure that Skimmer meets the requirements of the AEUB AEUB Alberta Energy and Utilities Board , including the recall of employees and the restart of the solid waste processing operations on Oct. 30, 1995. The company is also proceeding with a private placement financing and debt restructuring which will allow the installation of additional operating capacity to meet the strong demand for solid waste processing in Western Canada's heavy oil industry. -0- CAMBRIDGE ENVIRONMENTAL SYSTEMS INC. Frank W. King President & Chief Executive Officer The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. CONTACT: Jim Crowley, 403/283-1171 |
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