VANCOUVER, BRITISH COLUMBIA and LISLE, ILLINOIS--(Marketwire - Oct. 30, 2012) - Kelso Technologies Inc. (the "Company" or "Kelso") (TSX VENTURE:KLS)(KEOSF) -
Kelso reports that it has granted 310,000 incentive stock options at an exercise price of $0.65 per common share to several key personnel who have contributed to the recent rapid sales growth of the Company.
James R. Bond comments that "The Company has been successfully building its brand within the railroad industry over the past two and on half years. Despite near bankruptcy in 2010, the challenges of our small size and limited resources our products are now fully qualified and regulatory approved for commercial use in railroad applications. With verification of our productive capability OEM customers have recently been ordering our products in much larger numbers. This provides the commercial evidence that Kelso has been accepted as a reliable railroad equipment supplier - our primary business development goal. Industry adoption of our innovative line of external pressure release valves has been growing rapidly with revenue currently running at approximately US$225,000 per week. Our revolutionary new manway technology continues to be commercially service tested and expected to contribute to additional revenue growth in 2013. Our personnel have done exceptional work in building Kelso's business and with their continued dedication many more business growth highlights are expected in the near future."
About Kelso Technologies
Kelso is a railroad equipment supplier that designs, produces and sells a new generation of innovative products designed to improve the safe containment and pressure management of hazardous materials ("HAZMAT") during rail or road transport. Products include a series of external constant force spring pressure relief valves and a revolutionary new manway securement system trademarked as the "Kelso Klincher™".
These products are initially designed for use on applications on railroad tank cars but are currently being modified for use in new markets that include roadway trucking. All products are patent protected. Their primary design function is to reduce human errors and injuries and minimize environmental harm due to non-accidental release events that may occur during the transport of HAZMAT.
Kelso's ultimate goal is to have all products become "gold standard" products on most HAZMAT and non-hazardous applications and capture a large share of the market for our products. We are confident that we have created a solid foundation on which to build a successful multi-million dollar business on behalf of the shareholders of Kelso Technologies.
On behalf of the Board of Directors,
James R. Bond, CEO and President
Legal Notice Regarding Forward Looking Statements: This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are indicated expectations or intentions. Forward-looking statements in this news release include that we have created a sustainable multi-million dollar business that currently generates approximately US$225,000 weekly and that many more business growth highlights are expected in the near future. The Company's products involve detailed proprietary and engineering knowledge and specific customer adoption criteria, hence factors that could cause actual results to be materially different include that we may be unsuccessful in raising any additional capital needs that may arise; we may not have sufficient capital to develop, produce and deliver new orders; product development may face unexpected delays; orders that are placed may be cancelled; product may not perform as well as expected; markets may not develop as quickly as anticipated or at all; and operations may run into permit, labor or other problems. Further, we are reliant on certain key employees who may leave the Company and we may be unable to protect or defend our intellectual property. Investors are cautioned against placing undue reliance on forward-looking statements. We assume no responsibility to update these forward looking statements except to the extent required by law.
- Investment & Company Information
James R. Bond
CEO and President
Kelso Technologies Inc.
Chief Financial Officer