Tech stock boosted by defense contract
Seprotech Systems (TSX: V.SET) shot up as much as 20% before closing unchanged at five cents as the manufacturer of water and wastewater treatment systems reported that the Canadian Department of National Defence (DND) has selected Seprotech to support two classes of water purification systems with Repair and Overhaul Services, Engineering support and Field Service support. The standing offer is for an initial two-year period estimated at $2.5 million with an option to extend for an additional three, one-year periods. The estimated total value of the five-year standing offer is $6 million.
