Cleantek Industries Secures $2 Million Credit Facility for International Expansion and Retires Previous Asset-Based Lending Facility
Rhea-AI Summary
Cleantek Industries (OTC: GLKFF, TSXV: CTEK) announced a new $2 million senior credit facility with a Canadian financial institution. The funding is intended to support international growth, inventory, and working capital needs.
Cleantek also retired its prior asset-based “build loan,” aiming to streamline its capital structure while advancing a 60-unit HALO SE international sale and other projects.
Positive
- Secures $2 million senior credit facility for growth and working capital
- New facility supports 60-unit HALO SE international sale
- Credit line backs large international project and expansion initiatives
- Retirement of prior asset-based ‘build loan’ facility
- Management emphasizes ongoing quarter-over-quarter growth focus
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Calgary, Alberta--(Newsfile Corp. - June 25, 2026) - Cleantek Industries Inc. (TSXV: CTEK) ("Cleantek" or the "Company"), a leading provider of patented technology solutions that enhance operational performance and reduce costs in the wastewater management and industrial lighting sectors, is pleased to announce it has secured a
The facility carries customary commercial terms and conditions and is expected to enhance Cleantek's financial flexibility as the Company advances its previously announced large international project and pursues additional growth opportunities in key markets, supports inventory growth, and strategic business development initiatives.
In conjunction with the new facility, the Company has retired the remaining capacity under its previous asset-based lending facility, often referred to as the 'build loan'.
"We continue to focus on growth, and we see that growth reflected quarter over quarter," said Riley Taggart, Chief Executive Officer. "The facility provides additional flexibility as we execute on our previously announced 60-unit HALO SE international sale while supporting broader corporate initiatives and further streamlining our capital structure."
About Cleantek Industries Inc.
Cleantek is an energy technology company providing specialized and fully integrated wastewater treatment, disposal equipment, and turnkey sustainable lighting rental solutions. By leveraging patented technology and industry expertise, Cleantek delivers tailored, cost-effective solutions to a diverse client base, including blue-chip exploration and production companies across North America.
With a focus on sustainability, safety, and operational excellence, Cleantek is well-positioned to meet the rising water treatment and sustainable lighting market demand. Our proven track record and commitment to innovation drive long-term value creation in the clean technology sector.
For Further Information:
Riley Taggart, President & Chief Executive Officer
E-mail: rtaggart@cleantekinc.com
Tel: 403-567-8700
www.cleantekinc.com
LinkedIn
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Forward-Looking Statements
This news release contains certain "forward looking statements" including, for example, statements relating to expected improved financial flexibility, additional growth, potential expansion, expansion of Cleantek's fleet of sustainable lighting solutions and EcoSteam wastewater treatment assets, the expected deployment of Cleantek's assets, available liquidity, Cleantek's outlook for the future and near-term strategy. Such forward-looking statements involve risks and uncertainties, both known and unknown. The results or events depicted in these forward-looking statements may differ materially from actual results or events. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding and are implicit in, among other things: receipt of regulatory approvals, the state of the capital markets, the ability of the Corporation to successfully manage the risks inherent in pursuing business opportunities in the oilfield services industry and outside the North American market, and the ability of the Corporation to obtain qualified staff, equipment and services in a timely and cost efficient manner to develop its business. Any forward-looking statement reflects information available to Cleantek as of the date of this news release and, except as may be required by applicable securities laws, Cleantek disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302882