(TheNewswire)
MONTREAL, QUEBEC – TheNewswire - April 1 st , 2021 – Dundee SustainableTechnologies Inc. (“ DST ”or the “ Corporation ”)(CSE:DST) (CNSX:DST.CN) is pleased to announcethat, pursuant to successful results on the processing of a first 150tonnes of material for its Client (see Press release December 14 th , 2020 ), the final agreementfor the processing of the balance of the 3,800 tonnes has been signed. The signature of this contract represents the final step DST neededto fully engage the processing of the material. DST’s plant hasbeen restarted in March to execute this contract which is expected tolast for 2 to 3 years. The contract is structured on a cost +20%basis and should generate about $3.5M in revenue for the Corporation.
This contract is part of DST’s strategy to leverage its plant inThetftord Mines, Quebec, in order to generate revenues while theCorporation is commercializing its GlassLock Process™ and CLEVRProcess™.
Mr. David Lemieux, the President and CEO of theCorporation stated: “This contract represents an important inflow offunds for DST that will provide us with additional financial stabilitywhile we continue working on the commercialization of ourtechnologies. We are also working on a number of other similaropportunities as part of the Technical Services branch of our businessplan.”
DST is also announcing the resignation of Mr. BrianHowlett from its board of directors. Mr. Howlett has been an activemember of the board for the last 6 years and his departure representsthe final step of him transitioning out of the Corporation since hisresignation as CEO in 2020 (see Press Release January27 th ,2020 ). Mr. David Lemieux commented:“We would like to thank Brian for his contribution to transform DSTfrom a R&D company to a Technology Provider. The Board andManagement are wishing him all the best in his new ventures.”
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™ and CLEVR Process™ 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 press release containsforward-looking statements that address future events and conditions,which are subject to various risks and uncertainties. Actual resultscould differ materially from those anticipated in such forward-lookingstatements as a result of numerous factors, some of which may bebeyond the Corporation’s control. These factors include generalmarket and industry conditions, risks related to continuous operationsand to commercialization of new technologies and other risks disclosedin the Corporation's filings with Canadian SecuritiesRegulators.
Forward-looking statements are based on theexpectations and opinions of the Corporation's management on the datethe statements are made. The assumptions used in the preparation ofsuch 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 statements whether as aresult of new information, future events or otherwise, except asrequired by applicable law.
Neither the CSE nor its RegulationServices Provider (as that term is defined in the policies of the CSE)accepts responsibility for the adequacy or accuracy of thisrelease.
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