(TheNewswire)
THETFORD MINES, QUEBEC, May 14, 2024 – TheNewswire – Dundee SustainableTechnologies Inc. (“DST” or the “Corporation”)(CSE: DST) is pleased to announce significant progress in itsparticipation in the project aimed at transforming the treatment ofelectronic waste material ("e-waste").
Following the initial announcement on June 23, 2023, DST has fulfilledits cash and in-kind contribution commitment in the newly formedcompany, now officially named Enim Technologies Inc. (“Enim”).This achievement was a crucial step forward in the objective to deployDST’s proprietary gold extraction CLEVR Process™ (the “CLEVRProcess”) for the sustainable management of e-waste.
The Enim plant, situated in Thetford Mines at DST's Technicalfacilities, began operating in April 2024, marking the commencement ofthe operating phase of the project. The primary objective of thisphase is to demonstrate the integrated hydrometallurgical treatment ofelectronic material, with a focus on the recovery of gold, copper,silver, and palladium.
“The commencement of the Enim operations represents a significantmilestone not only for DST but also for the broader industry seekingsustainable solutions for e-waste management,” remarked Mr.Jean-Philippe Mai, President and CEO of DST. “With the support ofour dedicated team and strategic partners, we are poised to drivemeaningful change and create lasting value for stakeholders and theenvironment alike.”
DST also announces that its Board of Directors has approved thegranting of options for 3,650,000 subordinate voting shares of theCorporation to directors and officers (the “Options”). The Optionsare exercisable at $0.13 per share vesting immediately. The optionsexpire on the fifth anniversary of their grant date. The directorswere granted an aggregate of 600,000 stock options. The optionsgranted to officers totaled 3,050,000 stock options. Following thegrant, the total number of outstanding options under the Corporationsplan is 5,900,000 or approximately 9.19% of the subordinate votingshares issued and outstanding.
About Dundee SustainableTechnologies, a corporation controlled by Dundee Corporation
The Corporation is engaged in the development and commercialization ofenvironment-friendly technologies for the treatment of materials inthe mining industry. Through the development of patented, proprietaryprocesses, DST extracts precious and base metals from mineralizedmaterial, concentrates and tailings, while stabilizing contaminantssuch as arsenic, which could not otherwise be extracted or stabilizedwith 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. Jean-Philippe Mai
President and CEO
Dundee Sustainable Technologies Inc.
Tel: (514) 866-6001 # 228
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 reviseany forward-looking statements whether as a result of new information,future events or otherwise, except as required 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.
Copyright (c) 2024 TheNewswire - All rights reserved.