VANCOUVER, BC, May 11, 2023 /PRNewswire/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to provide an update on the site development work that began in early April at its planned asphalt shingle reprocessing facility in Calgary, Alberta (the "Empower Calgary Facility"). The site development work is part of the Company's long-term lease agreement for the Empower Calgary Facility and these expenditures are included in the landlord's (the "Landlord") obligations under this agreement. Additionally, the Company has released an updated investor presentation available here.
Mr. Aidan Mills, President & CEO and Director of Northstar, stated, "We are pleased with the progress being made by the Landlord at the site of our planned Empower Calgary Facility in Rocky View County. The land is being prepared for construction, with a number of key initiatives ongoing prior to taking possession of the property which is expected to take place on July 1, 2023. We look forward to bringing our proprietary clean technology to the Greater Calgary Area and providing a solution to help divert asphalt shingles from its landfills."
Update on Site Development Work
The Landlord has removed debris and topsoil that was previously on the site and begun grading and compacting the base. Site development work will continue with:
- bringing in recycled granular material and placing it in the yard at the site,
- paving the parking lot,
- landscaping the front of the site,
- and installing lighting, fences, and foundations for the weigh scale.
The site drawings were completed by the Landlord and as part of the previously announced conditional development permit issued to the Landlord by Rocky View County, Alberta on January 30, 2023. The pre-construction development permit requirements have been met and approved which allows commencement of the site development work.
Updated Investor Presentation
The Company also would like to notify its shareholders of the recently updated investor presentation, which includes a summary of the Company's recent updates. The presentation is available for viewing and download on the Company's website at www.northstarcleantech.com or at the following link: https://docsend.com/view/e8c53v3mdyupcxg5.
About Northstar
Northstar Clean Technologies Inc. is a Canadian-based clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar has developed a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over-crowded landfills, and extracting the liquid asphalt for use in new hot mix asphalt, shingle manufacturing and asphalt flat roof systems, and aggregate and fiber for use in construction products and other industrial applications. Focused on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its three primary components for reuse/resale at both its Empower Pilot Facility in Delta, British Columbia and its first commercial scale up facility in Calgary, Alberta. As an emerging innovator in sustainable processing, Northstar's mission is to be the leader in the recovery and reprocessing of asphalt shingles in North America, extracting the recovered components from asphalt shingles that would otherwise be sent to landfill.
For further information about Northstar, please visitwww.northstarcleantech.com.
On Behalf of the Board of Directors,
Aidan Mills
President & CEO, Director
Cautionary Statement on Forward-Looking Information
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. The TSXV has neither approved nor disapproved the contents of this press release.
This press release may contain forward–looking information within the meaning of applicable securities legislation, which forward–looking information reflects the Company's current expectations regarding future events. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements concerning: (i) the anticipated completion of the site development work; (ii) the anticipated date for possession of the property; (iii) the anticipated development and building of the Empower Calgary Facility; and (iv) Northstar's ability to become a leader in the recovery and reprocessing of asphalt shingles in North America. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related the inability by Northstar to close the Private Placement in whole or in part, other factors beyond the control of the Company as well as those risks and uncertainties which are more fully described under the heading "Risk Factors" in the final prospectus of the Company dated June 18, 2021 and in the Company's annual and quarterly management's discussion and analysis and other filings with the Canadian securities regulatory authorities under the Company's profile on SEDAR. The ongoing dispute between the sovereign state of Ukraine and Russia also poses risks that are currently indescribable and immeasurable. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company does not undertake any obligation to update such forward–looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
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SOURCE Northstar Clean Technologies Inc.
