MONTREAL, QUEBEC--(Marketwired - Sept. 25, 2014) - NovX21 Inc. (TSX VENTURE:NOV) is pleased to announce the signature of a framework supply agreement with the Québec Association of Auto Parts Recyclers (Association des recycleurs de pièces d'autos et de camions du Québec, or ARPAC), a leader in the green recycling of end-of-life vehicles and the sale of high-quality, controlled-origin recycled car and truck parts, with 84 members in Quebec.
The framework agreement was signed following negotiations between NovX21, the Chairman of the Board, Pierre Robitaille, and ARPAC president and CEO Simon Matte, and the Company's presentation at ARPAC's Annual Meeting on September 19 and 20, 2014.
Currently, recyclers in Quebec are aware that they are losing the added value in catalytic convertor (CC) recovery to intermediaries who buy their CCs for firms with activities outside the province. ARPAC members therefore signed this framework agreement that offers a solution and collaboration with NovX21.
ARPAC will thus become a key supply partner for the NovX21's first commercial plant, which is scheduled to start operations in 2015 in Quebec's Thetford Mines area.
About ARPAC
The mission of Association des recycleurs de pièces d'autos et de camions du Québec and its members is to be the leaders in the environmental recycling of end-of-life vehicles and the sale of high-quality, controlled-origin recycled car and truck parts. For more information, please visit www.arpac.org.
About NovX21
NovX21 operates an industrial prototype plant for the recovery of Platinum Group Elements (Platinum, Palladium and Rhodium, or PGMs). The plant is located near Quebec City in St-Augustin-de-Desmaures. Its patented process yields more than 97% recoveries of PGMs, and is not only much less capital extensive but also operates much more rapidly than conventional plants, thus dramatically lowering the amount of time that its customers' capital is tied up as work-in-process inventory. NovX21's mission is to sustainably recover precious metals by recycling end-of-life PGM containing components while meeting global "green" standards for the automobile industry.
NovX21 also holds the mineral rights to six mining properties and has focused its exploration activities on the Menarik property in the James Bay area, in the Province of Quebec, the site of a major chromite deposit with occurrences of gold, nickel, copper and PGMs. The use of NovX21's patented; proprietary processes for such deposits may lead to a breakthrough in low-cost primary metallurgy in the near future.