BALLERUP, Denmark, March 1, 2017 /PRNewswire/ -- LiqTech International, Inc. (NYSE MKT: LIQT) ("LiqTech") announced that due to regulatory issues it has not been feasible for Hunan Yonker Investment Group (Yonker) to complete the agreed investment in LiqTech before the deadline of February 28, 2017. Therefore the parties have amended the Investment Agreement and the deadline for completion of the USD 4 million investment in LiqTech is now April 15, 2017.
Mr. Sune Mathiesen, LiqTech CEO, remarked, "Since we entered into this Investment Agreement and the Joint Venture Agreement with Yonker we have been working diligently together in order to meet the agreed deadline of February 28, 2017. We are disappointed that we have not been able to do so, but we know that Yonker will work hard to complete the investment at the soonest possible time and no later than April 15th."
Chairman of Yonker, Mr. ZhengJun Liu, remarked "We regret that it has not been feasible to complete the investment in LiqTech before the deadline of February 28, 2017. We are, however, pleased that we have been able to amend our Agreement with LiqTech and we will work hard to complete the investment at the soonest possible time, and we are very confident that we will meet the new deadline.
Since we entered into this Agreement with LiqTech we have been working together in identifying a number of opportunities in different industries. Our customers have been very impressed about the technology from LiqTech and we have already entered into agreements to conduct the first pilot trials in China. We have great expectations for our cooperation with LiqTech and we look forward to seeing this cooperation develop."
About LiqTech International
LiqTech International, Inc., a Nevada corporation, is a clean technology company that for more than a decade has developed and provided state-of-the-art technologies for gas and liquid purification using ceramic silicon carbide filters, particularly highly specialized filters for the control of soot exhaust particles from diesel engines and for liquid filtration. Using nanotechnology, LiqTech develops products using proprietary silicon carbide technology. LiqTech's products are based on unique silicon carbide membranes, which facilitate new applications and improve existing technologies. In particular, LiqTech Systems A/S (www.provital.dk), the Company's subsidiary, has developed a new standard of water filtration technology to meet the ever increasing demand for higher water quality. By incorporating LiqTech's SiC liquid membrane technology with its longstanding systems design experience and capabilities it offers solutions to the most difficult water pollution problems.
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SOURCE LiqTech International, Inc.