DECEMBER 15, 1999
Canadian Chemical Reclaiming: Corporate Update
CALGARY, ALBERTA--C. Kent Jespersen, Chairman of Canadian Chemical
Reclaiming Ltd. (the "Corporation") today announced that at a
special meeting of the shareholders of the Corporation held on
Monday, December 13, 1999, the shareholders resolved to change the
name of the Corporation to "CCR Technologies Ltd." Subject to
regulatory approval, it is anticipated that the name of the
Corporation will be changed to the new name in the near future.
The new name is intended to better reflect the Corporation's
business as a technology company that develops and exploits
various technologies.
In addition, Mr. Jespersen is pleased to announce that G. L. W.
(Bud) Clark and Cedric E. (Ced) Ritchie have been appointed as
directors of the Corporation, effective immediately. Bud Clark
previously held the position as Senior Vice-President of Nova
Chemicals. Prior to January, 1995, Ced Ritchie was the Chairman
and Chief Executive Officer of the Bank of Nova Scotia and since
then a corporate director for various corporations. In addition,
Mr. Ritchie was recently appointed to the Canadian Business Hall
of Fame.
It is anticipated that these individuals will bring a tremendous
amount of business acumen and experience to the board of directors
of the Corporation.
Canadian Chemical Reclaiming Ltd. (CCR) is an Alberta based
corporation listed on The Canadian Venture Exchange (symbol "CRL")
which owns proven proprietary patented technology and mobile
processing equipment used for the purification and reclamation of
amines and glycols in the refining, natural gas processing,
petrochemicals, manufacturing, offshore gas processing, automotive
antifreeze recycling and aircraft deicing industries. CCR
provides reclamation services to major Canadian, U.S. and
International Corporations. CCR also provides new fixed skid
mounted processing modules to these industries, which include the
technology component through licensing agreements. In deepwater
offshore gas production CCR's technology simultaneously
regenerates and reclaims hydrate control chemicals, providing
producers with an efficient, economical and environmentally sound
solution to their hydrate control needs. CCR's wholly owned
subsidiary, New Paradigm Gas Processing Ltd. (NPGP), is developing
technology for the cost-effective production of smaller sour gas
reserves that are presently shut-in because existing technologies
are uneconomic. Through its wholly owned subsidiary, CataChem
Inc., CCR is engaged in providing a proprietary additive to reduce
corrosion in amine systems.
The corporate headquarters is located in Calgary, Alberta and its
Operations and Marketing Centre is located in Houston, Texas. CCR
also has an office in Nicosia, Cyprus.
CCR is continuing to develop opportunities in North America and
worldwide for mobile reclaiming, modules and licensing its
technology and providing solutions to industry through innovative
applications of its experience and technology.
Canadian Chemical Reclaiming is a publicly traded company on The
Canadian Venture Exchange, CDNX, (symbol CRL).
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