(TheNewswire)
MONTREAL, QUEBEC - TheNewswire - September 23,2020 - Dundee Sustainable Technologies Inc. (" DST " or the " Corporation ") (CSE:DST) (CNSX:DST.CN) is pleased to announce that it hasexecuted a new financing with the government ofQuebec in the form of a new secured loan of an amount up to$1,107,500 from (the "Financing"). The Financing has beengranted under Investissement Quebec's Support for Innovation Programand will be used by the Corporation to apply against businessdevelopment expenses.
The Government of Quebec will advance the Financing to DST in amaximum of three instalments, upon presentation of invoices, duringthe admissible expenses period that expires on December 31, 2021. TheFinancing will mature six (6) years since the initial disbursementfrom the government of Quebec and will bear interest at a rate of3.04% per annum. The Corporation will benefit from a 24-monthmoratorium period on the repayment of capital since the firstdisbursement, after which, the capital will be reimbursed in 48monthly installments. The Financing is secured by a second-degreehypothec over all of DST's property other than the intellectualproperty.
David Lemieux, CEO of DST declared: "With the securing of thisnew Financing, DST is now well positioned to accelerate thecommercialization of our technologies. We would like to thank thegovernment of Quebec that is once again demonstrating its support andbelief in the merits of our technologies and our business plan."
About Dundee SustainableTechnologies, a corporation controlled by Dundee Corporation
The Corporation is engaged in the development and commercialisation ofenvironment-friendly technologies for the treatment of materials inthe mining industry. Through the development of patented, proprietaryprocesses, DST extracts precious and base metals from mineralisedmaterial, concentrates and tailings, while stabilising contaminantssuch as arsenic, which could not otherwise be extracted or stabilisedwith conventional processes because of metallurgical issues orenvironmental considerations.
DST has filed, published and was granted patents for the GlassLockProcess(TM) and CLEVR Process(TM) in numerous countries.
FOR FURTHER INFORMATION PLEASECONTACT:
Mr. David Lemieux
President and CEO
Dundee Sustainable Technologies Inc.
Tel: (418) 423-7247 # 227
Cell: (418) 331-0486
FORWARD LOOKING STATEMENTS: This pressrelease contains forward-looking statements that address future eventsand conditions, which are subject to various risks and uncertainties.Actual results could differ materially from those anticipated in suchforward-looking statements as a result of numerous factors, some ofwhich may be beyond the Corporation's control. These factors includegeneral market and industry conditions, risks related to continuousoperations and to commercialization of new technologies and otherrisks disclosed in the Corporation's filings with Canadian SecuritiesRegulators.
Forward-looking statements are based onthe expectations and opinions of the Corporation's management on thedate the statements are made. The assumptions used in the preparationof such statements, although considered reasonable at the time ofpreparation, may prove to be imprecise and, as such, undue relianceshould not be placed on forward-looking statements. The Corporationexpressly disclaims any intention or obligation to update or revise any forward-looking statementswhether as a result of new information, future events or otherwise,except as required by applicable law.
Neither the CSE norits Regulation Services Provider (as that term is defined in thepolicies of the CSE) accepts responsibility for the adequacy oraccuracy of this release.
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