MAZARIN INC. AND ITS SUBSIDIARY ASBESTOS CORPORATION LIMITED ACQUIRE TWO IMMOVABLE PROPERTIES
Mazarin Inc., through its subsidiary Asbestos Corp. Ltd., has acquired land, serpentine tailings and buildings that constitute the former Carey mine located in the des Appalaches and Robert-Cliche regional county municipalities as well as an agreement in principle for the acquisition of the adjacent land and serpentine ore deposits that form part of the same package. The purchase price of these properties, including accessory and start-up costs, is in the order of $900,000. On the one hand, the objective is to support and accelerate the development of a privately-owned company based in Thetford Mines whose mission is to produce and commercialize products by means of an innovative process and of which Asbestos Corporation will become a shareholder. On the other hand, the acquisition of the adjacent property will facilitate the development of projects which would feed off the serpentine tailings.
"As the owner of several serpentine ore tailings in the Thetford Mines region, Asbestos Corporation sees itself as the promoter of strategic alliances based upon the beneficiation of metals and minerals contained in the serpentine tailings while, at the same time, fostering a circular economy and the removal of asbestos from these tailings," said Mr. Guy Berard, President of both corporations.