NEWS: Vertical Exploration enters exclusive deal for St-Onge
Vertical Exploration enters exclusive deal for St-Onge
2024-10-24 16:34 ET - News Release
Mr. Peter Swistak reports
VERTICAL SIGNS EXCLUSIVITY AGREEMENT
Vertical Exploration Inc. has signed an exclusivity agreement with an international entity regarding the company's St-Onge wollastonite deposit in Quebec. This exclusivity agreement is limited to exploring potential applications for enhanced-rock-weathering-focused carbon removal. Due to a confidentiality clause in the agreement, the entity will remain unnamed until such time as an official agreement may be reached.
Wollastonite's properties make it a very suitable mineral to demonstrate its ability to capture and permanently store atmospheric carbon dioxide. When the rock weathers, it releases calcium, magnesium and silicon, as well as other major and minor nutrients, into the soil, which results in higher crop yields, increased pest resistance and improvement in the pH of soils, making it very beneficial to farmers, while absorbing up to 10 times faster than comparable silicate minerals.
"We are very pleased to be receiving serious attention from many sources at this time. This exclusivity agreement is restricted to enhanced-rock-weathering applications relating to carbon capturing and does not affect ongoing talks and negotiations with other entities interested in our wollastonite for various other large applications," stated Peter Swistak, chief executive officer of Vertical Exploration.
About Vertical Exploration Inc.
Vertical Exploration's mission is to identify, acquire and advance high-potential mining prospects located in North America for the benefit of its stakeholders. The company's flagship St-Onge wollastonite property is located in the Lac-Saint-Jean area in the province of Quebec.
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