(TheNewswire)
THETFORD MINES, QUEBEC, May 14, 2024 – TheNewswire – Dundee Sustainable Technologies Inc. (“DST” or the “Corporation”) (CSE: DST) is pleased to announce significant progress in its participation in the project aimed at transforming the treatment of electronic waste material ("e-waste").
Following the initial announcement on June 23, 2023, DST has fulfilled its cash and in-kind contribution commitment in the newly formed company, now officially named Enim Technologies Inc. (“Enim”). This achievement was a crucial step forward in the objective to deploy DST’s proprietary gold extraction CLEVR Process™ (the “CLEVR Process”) for the sustainable management of e-waste.
The Enim plant, situated in Thetford Mines at DST's Technical facilities, began operating in April 2024, marking the commencement of the operating phase of the project. The primary objective of this phase is to demonstrate the integrated hydrometallurgical treatment of electronic material, with a focus on the recovery of gold, copper, silver, and palladium.
“The commencement of the Enim operations represents a significant milestone not only for DST but also for the broader industry seeking sustainable solutions for e-waste management,” remarked Mr. Jean-Philippe Mai, President and CEO of DST. “With the support of our dedicated team and strategic partners, we are poised to drive meaningful change and create lasting value for stakeholders and the environment alike.”
DST also announces that its Board of Directors has approved the granting of options for 3,650,000 subordinate voting shares of the Corporation to directors and officers (the “Options”). The Options are exercisable at $0.13 per share vesting immediately. The options expire on the fifth anniversary of their grant date. The directors were granted an aggregate of 600,000 stock options. The options granted to officers totaled 3,050,000 stock options. Following the grant, the total number of outstanding options under the Corporations plan is 5,900,000 or approximately 9.19% of the subordinate voting shares issued and outstanding.
About Dundee Sustainable Technologies, a corporation controlled by Dundee Corporation
The Corporation is engaged in the development and commercialization of environment-friendly technologies for the treatment of materials in the mining industry. Through the development of patented, proprietary processes, DST extracts precious and base metals from mineralized material, concentrates and tailings, while stabilizing contaminants such as arsenic, which could not otherwise be extracted or stabilized with conventional processes because of metallurgical issues or environmental considerations.
DST has filed, published, and was granted patents for the GlassLock Process™ and CLEVR Process™ in numerous countries.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mr. Jean-Philippe Mai
President and CEO
Dundee Sustainable Technologies Inc.
Tel: (514) 866-6001 # 228
info@dundeetechnologies.com
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Corporation’s control. These factors include general market and industry conditions, risks related to continuous operations and to commercialization of new technologies and other risks disclosed in the Corporation's filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Corporation's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any 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 Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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