MONTREAL, QUEBEC – TheNewswire - April 1st, 2021 – Dundee Sustainable Technologies Inc. (“DST” or the “Corporation”) (CSE:DST) (CNSX:DST.CN) is pleased to announce that, pursuant to successful results on the processing of a first 150 tonnes of material for its Client (see Press release December 14th, 2020), the final agreement for the processing of the balance of the 3,800 tonnes has been signed. The signature of this contract represents the final step DST needed to fully engage the processing of the material. DST’s plant has been restarted in March to execute this contract which is expected to last for 2 to 3 years. The contract is structured on a cost +20% basis and should generate about $3.5M in revenue for the Corporation.
This contract is part of DST’s strategy to leverage its plant in Thetftord Mines, Quebec, in order to generate revenues while the Corporation is commercializing its GlassLock Process™ and CLEVR Process™.
Mr. David Lemieux, the President and CEO of the Corporation stated: “This contract represents an important inflow of funds for DST that will provide us with additional financial stability while we continue working on the commercialization of our technologies. We are also working on a number of other similar opportunities as part of the Technical Services branch of our business plan.”
DST is also announcing the resignation of Mr. Brian Howlett from its board of directors. Mr. Howlett has been an active member of the board for the last 6 years and his departure represents the final step of him transitioning out of the Corporation since his resignation as CEO in 2020 (see Press Release January 27th, 2020). Mr. David Lemieux commented: “We would like to thank Brian for his contribution to transform DST from a R&D company to a Technology Provider. The Board and Management are wishing him all the best in his new ventures.”
About Dundee Sustainable Technologies, a corporation controlled by Dundee Corporation
The Corporation is engaged in the development and commercialisation 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 mineralised material, concentrates and tailings, while stabilising contaminants such as arsenic, which could not otherwise be extracted or stabilised 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. David Lemieux
President and CEO
Dundee Sustainable Technologies Inc.
Tel: (418) 423-7247 # 227
Cell: (418) 331-0486
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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