SXOOF - St-Georges Receives a Letter of Intent & Feasibility Study Partnership Proposal from Regional Industrial Development Agency
(TheNewswire)
Montréal – TheNewswire- February 17, 2021 – St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) has received a formal offer to enter into a partnership tocomplete a feasibility study on a proposed site and plant inBaie-Comeau, Québec, where the company could start its EV batteryrecycling operations in 2021.
The Letter of Intent received on February 16, 2021, from Innovation & DévelopmentManicouagan underlines the local community’ssupport for the installing of St-George's first battery plant.St-Georges has identified a specific site for the recycling batteryplant, which is already permitted for similar types of operations. Innovation & DévelopmentManicouagan proposes defining the parameters ofthe study to encompass all the financial, strategic, technical, andenvironmental aspects of the project. The partners expect to initiatework on the study by mid-March. Furthermore, they will assist thecompany in all of its negotiations and permitting process with theprovincial and local governments.
Paul Pelosi Jr., President of St-Georges wholly owned EVbattery recycling subsidiary, EVSX Corp, commented: “ Innovation & DévelopmentManicouagan’s intent to partner withSt-Georges to complete this feasibility study, validates ourinitiative to recover and recycle key materials from EV batteries inan ecologically sound manner. The team at St-Georges has done anoutstanding job of pulling everything together expeditiously … weare purposefully setting a fast pace, now and in the future, for thedevelopment of our battery recycling technology.”
St-Georges and EVSX expect to update their shareholdersregularly as the project and the final technological developmentupdates are becoming available.
ON BEHALF OF THE BOARDOF DIRECTORS
FRANCOIS (FRANK)DUMAS
Director & COO
EVSX Corp., awholly-owned subsidiary of St-Georges Eco-Mining, Corp, focuses onelectric vehicle battery recycling and building partnerships todevelop lithium mineral resources. EVSX, under the direction of PaulPelosi, Jr. and Enrico Di Cesare, is also tasked with furtheringresearch and development in lithium-ion recycling and developingintellectual property in line with St-Georges’ environmental values.Recent developments have significantly shortened the timeline for therecycling recovery of the rare earth metals such as nickel, cobalt,and lithium used in electric vehicle batteries.
St-Georges is developingnew technologies to solve some of the most common environmentalproblems in the mining industry. The Company controls all the activemineral tenures in Iceland. It also explores for nickel & PGEs onthe Julie Nickel Project and the Manicougan Palladium Project onQuébec’s North Shore. Headquartered in Montreal, St-Georges’stock is listed on the CSE under the symbol SX, on the US OTC underthe Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol85G1
TheCanadian Securities Exchange (CSE) has not reviewed and does notaccept responsibility for the adequacy or the accuracy of the contentsof this release.
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