Green Hydrogen & Battery Grade Nanocarbon Developments
St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is pleased to announce that its wholly-owned subsidiary, H2SX, has executed a final agreement with the South Korean company Wintech Energy Corp. Ltd. The agreement allows H2SX to access Wintech Energy’s green hydrogen technology. Through this agreement, Wintech Energy becomes a shareholder of H2SX.
“This technology will make it possible to produce hydrogen with a low carbon footprint and low energy intensity. In our jargon, this is what we call ccH2™, which is cheap and clean hydrogen,” said Sabin Boily, CEO of H2SX.
In contrast to traditional hydrogen production, this green hydrogen production process does not require any freshwater molecules. It is based on the separation of the methane molecule coming from natural gas, or ideally from biogas produced by organic waste, into gaseous hydrogen – the ccH2™ molecule -and high purity carbon powder. The process can be almost ten times more energy-efficient than water electrolysis as it does not consume any of this ultra-stable and precious molecule, leaving water available for humans, animals, and agriculture.
Wintech Energy
Wintech Energy’s proprietary technology uses microwave plasma and is a collaboration between the Korean Institute of Fusion Energy (KFE, formally the Korea National Fusion Research Institute – NFRI), the Korea Energy Institute (KIER), Kwangwoon University, Wintech Energy, and the Ministry of Trade, Industry and Energy (MOTIE).
“This agreement with H2SX will allow Wintech to demonstrate our unique expertise beyond our borders and actively work to implement strategic, innovative technology solutions to fight climate change,” stated Jung Cheol Park, CEO of Wintech Energy.
Wintech’s financial partners and business networks
Wintech also benefits greatly from the support of its financial partners and their business networks in its international deployment.
“We know that the hydrogen economy will become an increasingly important part of the investment portfolio at KB in the future. Wintech has such potential, and we will be seriously looking for opportunities in this sector, both here and elsewhere,” noted Peter Chunsoo Park, Managing Director, Head of Global Business & Strategy, KB Securities.
The ccH2™ technology will allow St-Georges to realize the full synergistic potential of its products and subsidiaries’ by-products: from the refining of critical materials from its future mining activities, through the possibility of direct use of the ccH2™ technology in reduction processes up to the production of “green” clean hydrogen-based acids, to its battery recycling activities.
The high purity nanocarbon powder that is the by-product of the ccH2™ technology is suitable for anode electrodes for lithium-ion batteries. The ultimate valorization of process rejects into value-added fertilizer for St-Georges is an example of the potential of ccH2™ in the current global context of fertilizer shortages.
The Transaction
H2SX is acquiring a global non-exclusive license as well as an exclusive license for the territories of Iceland, the State of Nevada of the United States of America, and the Provinces of Quebec and Ontario of Canada. The exclusive license also covers all-natural resource-based operations in Canada.
The patents included in the license:
Patent Information |
Production Facility and Process of Hydrogen through Steam PlasmaKIPO Patent #10-1594350 (15 February 2016) |
Refining Facility and Process of Carbon through Microwave PlasmaKIPO Patent #10-1504247 (13 March 2016) |
Production Facility and Process of Carbon Monoxide through Steam PlasmaKIPO Patent #10-1664833 (2 October 2015) |
Production Facility and Process of Hydrogen through Steam PlasmaInternational Patent #PCT/KR2016/003111 (28 March 2016) |
Additional terms
Additional intellectual property developed by the partners will be co-owned, half by H2SX and half by the licensors.
Compensation
H2SX will issue a total of 990,000 common shares representing 9.9% of its common shares, in favor of Wintech (4.95%) and ZeeOne (4.95%). The parties will also receive preferred shares with a conversion rate potentially representing 10% of the outstanding shares of H2SX. No cash will be disbursed.
A series of 5-year Special Milestone Warrants exercisable at CA $1.00 will also be issued based on the following milestones:
Milestone | Number of WarrantsWintech | Number of WarrantsZeeOne |
Upon completion of building the pilot plant before 2024/07/01 | 200,000 | 200,000 |
New IP for hydrogen production | 100,000 | 100,000 |
New IP for carbon production | 125,000 | 125,000 |
New technology related to H2SX’s objectives | 50,000 | 50,000 |
Upon completion of building the first production plant before 2028/07/01 | 250,000 | 250,000 |
Fertilizer Technology Update and Public Sector Contribution
Additionally, H2SX, St-Georges, Wintech, and their partners are announcing their intention to set up a major industrial research chair with the mandate to “evaluate, develop, and commercialize cheap and clean hydrogen-based fertilizers”. The research chair will be located at the Cintech Agroalimentaire agri-food research center in Saint-Hyacinthe, Quebec.
“(…) since Cintech Agroalimentaire’s mission is to increase the innovation and competitiveness of the Quebec agri-food industry by supporting R&D, a unique new research chair in the fertilizer sector for greener and low costs innovative additives and supplements is in line with our objective of decarbonizing our industry,” added Jean Lacroix, CEO of Cintech Agroalimentaire, as he welcomed the creation of the new research chair.
Cintech Agroalimentaire will be responsible for, among other things, the scientific direction of the chair and the use of private funds to find public subsidies to match private contributions. H2SX will benefit from the commercial spin-off of the discoveries and the scientific and technical breakthroughs resulting from the chair’s work. The Company expects that the government could deploy an estimate of CA $2 Million over the next five years to support the initiative.
“(…) Green hydrogen technology is a natural fit across all our business verticals (…) with lithium production, battery recycling, and nickel resource development (…) it will be essential in the making of large quantities of low-cost fertilizers from the by-products of these operations (…) creating endless synergies with one of the goals being to be the lowest cost H2 producer in the industry (…) Our core philosophy is to close the loops in our processes with circular green technologies, no waste, more profits (…)” commented Enrico Di Cesare, St-Georges’ VP R&D.
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Contact: public@stgeorgesecomining.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS
Director & COO
About KB Securities Co Ltd
KB Securities Co., Ltd. provides financial services. The Company provides brokerage, securities dealing, underwriting, corporate finance, mutual funds, online trading, and derivatives. KB Securities also sells stock type unit trusts. KB Securities, one of the biggest investment banks in Korea, has $4 billion in capital, $100 billion in investor assets, and 3.8 million investors. KB Securities is a subsidiary of KB Asset Management.
About Cintech Agroalimentaire
Since 1986, Cintech Agroalimentaire has offered its expertise and technological support to Quebec agri-food companies seeking to improve their performance. Located in the heart of an agri-food technology park, Cintech Agroalimentaire is recognized for strengthening innovation and the competitiveness of the Quebec agri-food industry by supporting R&D, consumer research and technology transfer.
About H2SX
H2SX, a subsidiary of St-Georges Eco-Mining, implements innovative cheap and clean hydrogen production solutions that unlock hydrogen’s real economic and environmental value. The clean hydrogen produced is destined for a multitude of markets and allows the creation of value-added products while attributing green premiums to them. H2SX also supports the St-Georges family of companies by bringing undeniable benefits to their full circle recycling efforts. H2SX is the catalyst for limitless business opportunities.
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery results throughout the value chain.
The company has an integrated urban mining strategy which includes full-circle battery recycling and green hydrogen production. St-Georges also has verticals in critical mineral exploration in Quebec and Iceland.
Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
- Published in News Home, St-Georges Eco-Mining
Green Light for Battery Recycling & Nickel Ingot Production
St-Georges Eco-Mining Corp. (CSE:SX) (OTCQB:SXOOF) (FSE:85G1) is pleased to announce that on April 12, 2022, its board of directors has voted unanimously to authorize its subsidiary EVSX to move forward with its plan to recycle batteries and produce nickel ingots in Baie-Comeau, Québec in 2022.
St-Georges, via and in conjunction with its subsidiary EVSX, expects to initiate the acquisition of a building and is in talks to establish options on two additional land plots representing close to 400,000 square feet. These transactions should be initiated during this month of April. The plots of land are adjacent to rail lines and will be admissible to tax credits and other incentives from the federal and provincial governments, as well as a basket of incentives from the municipality.
This initial commercial showcase plant will constitute phase one of a series of other developments to be established, via a modular approach, in different locations. The plant in Baie-Comeau will be constituted of three circuits, each able to process 200 metric tonnes per hour. One of the circuits will be reserved for nickel-cadmium batteries. The other two are expected to process a mix of different chemical types in order to produce black mass to be processed further in a separate tech plant.
The CAPEX for the project’s first phase is currently estimated at roughly CA$15,000,000, including grants, incentives, and contingencies, and the plant should be commercially operational before the end of the year. It is expected that between 6 to 8 million dollars will be raised by St-Georges either in equity or in convertible debenture. The Company expects to finance the building and equipment via commercial loans and mortgages. These lending instruments have not yet been negotiated, and there are no current guarantees that the Company will be successful in securing lenders. The incentives are also in the discussion stage with the different levels of government. St-Georges expects to be able to provide more information on these matters within the next 60 days.
The independent consultants working on the feasibility study for the Company will deliver a phase one report to EVSX management this week. The Company expects to augment and extend their mandate to define and articulate phase two of the EVSX project. Multiple sites will operate as feeder sites for Baie-Comeau (nickel center), with other locations to be identified. Sites in Contrecoeur, QC and Hamilton, ON are currently under review but are not owned by the Company. There is no guarantee that the Company will acquire any of the sites at this stage. These modular plants will allow for the processing of all sorts of batteries, the front-end recuperation of the steel, copper, aluminium, and carbon (graphite) and the production of critical minerals-rich black mass. The Company expects to deploy these modular plants itself or in partnerships in areas where a significant availability of spent batteries exists or where the local authorities are expected to embark on large recycling profit sharing program with the Company. Iceland and certain American jurisdictions are being reviewed by the Company for this purpose.
The Company had already disclosed its metallurgical results from the recovery of metals in nickel-cadmium batteries (See Press Release from January 13, 2022, titled “EVSX Nickel-Cadmium Battery Recycling Results” https://webfiles.thecse.com/SX_Press_Release_-_January_13_2022_-_EVSX_Nickel-Cadmium_Battery_Recycling_Results.pdf?ePe2BnjG0F0iCz5fatl6jgZdBnUJt1H5 and Press Release from March 13, 2022, titled EVSX Commercial Batteries Recycling & Nickel Metal Smelting Operation Update https://www.thecse.com/en/trading/market-activity/company-filings/evsx-commercial-batteries-recycling-nickel-metal-smelting).
Additional information concerning the recuperation of the plastics as well as the access to feedstock will be released in the coming weeks. The Company will not make public forward-looking statements on the revenue projections, nor will it publish the full content of the feasibility study, which contains significant trade secrets and confidential commercial data and strategies.
“(…) Baie-Comeau is a strategic location for St-Georges with respect to our interests in nickel (…) I think it no longer is a secret that we are pretty excited by nickel in this region. This investment allows us to accelerate the work towards developing our nickel centric operations (…) its also the beginning of a global business deployment strategy that will conclude in the implementation of many of these satellite specialized centers of excellence (…) that will culminate in the development of a large tech plant in the second phase of our commercial deployment. This effort will require significant investments over many years that will allow us to secure our position in the industry (…,)” said Enrico Di Cesare, CEO of EVSX and VP of Research & Development of St-Georges Eco-Mining Corp.
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ON BEHALF OF THE BOARD OF DIRECTORS
“Herb Duerr”
HERB DUERR
President & CEO
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle EV battery recycling. The Company explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on Quebec’s North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Timequotes and market information for the company on www.otcmarkets.com
The Canadian Securities Exchange(CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
SOURCE: St-Georges Eco-Mining Corp.
- Published in St-Georges Eco-Mining
St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to release the initial partial results of its 2021 drilling campaign on its 100% own Manicouagan Project.
St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to release the initial partial results of its 2021 drilling campaign on its 100% own Manicouagan Project.
These are the best sampled values obtained in three different core sections:
Platinum: 2.94 g/t Palladium: 13.85 g/t Nickel : 3.58%
A section of six metres of Hole 21-18 was rushed to ALS Laboratories for testing. The best two-meter results are listed in the table in Figure 1 and compared with historic hole results from 07-17 and 08-02 over similar lengths. The table in Figure 2 provides results over six meters for the Company’s recent hole 21-18 covered in this press release. Results for base metals, platinum, and palladium are disclosed below. Additional results for other precious metals, such as rhodium , osmium, ruthenium, and iridium, are expected within the next six to eight weeks.
Confirmation of a High-Grade Nickel & Palladium Large Trend/Corridor
The Company received partial results from one section of drill hole 21-18 (hole 18) that was sent to ALS Laboratories for rush processing. The initial results reveal the presence of high-grade nickel as well as significant grades of palladium and platinum (see Figure 2) that seem to correlate at depth and along strike with similar historical results in hole 07-17 and hole 08-02 located 179 metres to the west and 174 to the southwest, respectively (see Figure 1 below).
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Figure 1: Results for Hole 07-17, Hole 08-02, and Hole 21-18
Hole 21-18 was drilled to the southeast of the historical Bob Showing, where a 1,070 kg bulk sample was collected this year. ( See St-Georges Press Release from February 10, 2022 : https://webfiles.thecse.com/SX_Press_Release_-_February_10_2022_-_Manic_Bulk_Sample_Material_Contains_Suite_of_Platinum_Group_Metals_Between_2.36_2.92_Nickel.pdf?bCt6DsKbhE6dQV.V4r3Kl3FsUD2ISD15
Click Image To View Full Size
Figure 2: Partial results received to date from hole 21-18. Indicates an average of 6.5 meters grading 1.27% nickel, 0.22% copper, 0.082% cobalt, 0.84 g/t platinum, and 2.80 g/t palladium which includes a 2-meter section averaging 3.23% nickel, 0.44% copper, 0.189% cobalt, 2.11 g/t platinum, and 6.88 g/t palladium. True width has not been determined due to complications with faulting. Nearby historic drill holes encountered similar widths and grades.
The map below (Figure 3) shows the location of hole 21-18 in relation to the bulk sample and two historical holes, 07-17 and 08-02. Two minor faults are reported in the vicinity of these holes.
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Figure 3: Location of hole 21-18 in relation to 2021 bulk sampling and two historical holes nearby .
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Figure 4: Section of hole 21-18 drill core included in this release.
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Figure 5: Hole 21-18 Core from meter 5 to meter 71.
The Company has asked for eight of the higher-grade platinum and palladium samples to be re-assayed for additional PGE minerals based on the recent correlation of osmium, ruthenium, iridium, and rhodium values recovered from the bulk sample collected at surface (See St-Georges Press Release from February 10, 2022). Due to the backlog at the ALS Laboratories, these results are not expected for six weeks or more.
The Company has a large quantity of samples in the process of being analyzed by its independent labs. St-Georges’ geologists are busy processing the last batch of cores that came out of the Manicouagan Project’s camp earlier this month. Assays results will be disclosed over the coming weeks as they become available.
“(…) Because of the strong assays returned, (…) we believe the beginning of a trend or corridor is shaping up. (…) This reason and other available evidence led us to significantly expand our claim position in the area recently. (…) we believe that we now hold all the prospective ground that share similarities with the discovery area. The Company expects to conduct a cursory exploration program on the new land acquired as soon as practical after the snow is gone (…) we expect to leverage the geophysical team that we planned to mobilize for a downhole survey in the area of the Bob Showing and conduct some extensive surface geophysics within the new ground. We will follow up with geological mapping and geochemical sampling of surface outcrops. We plan to exploit this situation to expand the prospective zones on Manicouagan and organically grow the area of interest quickly. (…) The Manicouagan Project has now become our main exploration priority .” commented Herb Duerr, St-Georges Eco-Mining President & CEO
Click Image To View Full Size
ON BEHALF OF THE BOARD OF DIRECTORS
“Herb Duerr”
HERB DUERR
President & CEO
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle EV battery recycling. The Company explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on Quebec’s North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com
- Published in News Home, St-Georges Eco-Mining
EVSX Commercial Batteries Recycling & Nickel Metal Smelting Operation Update
St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to provide a status update on some of its metallurgical development initiatives.
EVSX’s management has worked on a complete strategic review of its research & development initiatives related to critical minerals production and recovery. A completed hydrogen production strategy is being developed with synergies to St-Georges Eco-Mining initiatives and opportunities for decarbonization initiatives globally. In addition to the hydrogen initiative, the new strategic plan is articulated around the creation of three centers of excellence: nickel, lithium, and fertilizers. These centers of excellence will leverage industries already in place and operating that can be clients and/or suppliers for EVSX. The deliverables and the objectives of the current feasibility study have been augmented to reflect this new reality.
Battery Recycling & Metals Recovery
The initial location proposed for the Company’s first commercial showcase plant in Baie-Comeau has been eliminated. The municipality is working at a fast pace with management to secure an option on two sites that will be part of the independent consultants’ final report. These sites come in at a fraction of the costs of the original proposed site, are better suited for the change in the portion of the process related to metal recovery, and still allow the Company to initiate the commercial operations of its first showcase plant on schedule.
The Company is developing an innovative and industry-disrupting method to produce ready-to-sell nickel ingots from the processing of any type of nickel-cadmium batteries.
EVSX is currently reviewing the front-end operations that result in the recovery of aluminum, steel, copper, and carbon, with the objective to cover operational costs at this stage, leaving the Company with a black mass of nickel, cobalt, and cadmium for which size and recovery data was disclosed in a previous press release disseminated by the Company on January 13, 2022, and titled ” EVSX Nickel-Cadmium Battery Recycling Results”. See Press Release: https://webfiles.thecse.com/SX_Press_Release_-_January_13_2022_-_EVSX_Nickel-Cadmium_Battery_Recycling_Results.pdf?ePe2BnjG0F0iCz5fatl6jgZdBnUJt1H5
Discussions are underway to secure multi-year access to large quantities of nickel-cadmium batteries and work through the current multi-year backlog of this type of battery currently held in storage.
The feasibility study also covers lithium-iron-phosphate (LiFePO 4 ) battery recycling and recovery. It is expected at this point that the original commercial showcase plant will be using a similar process to convert these batteries into black mass. However, the recovery of these metals will be done at a separate location where the Company expects to deploy its lithium center of excellence.
Partners, as well as potential clients and suppliers, are in discussion with management for this initiative. Locations in Saguenay (Ville de La Baie, QC), Contrecoeur (QC), and Hamilton (ON) are being reviewed as potential sites for these operations and are not covered by the current feasibility study.
A cost-benefit analysis for alternate locations for the nickel-cadmium operations is also being conducted by the independent firm doing the feasibility study allowing additional flexibility for the Company and maximizing resource deployment.
EV Batteries Recycling and Metal Recovery
No significant amount of spent EV batteries will be available on the market in the short term. This was stated in the preliminary report related to the feasibility study in June 2021 and confirmed by data obtained from various sources like aggregators, other recyclers, battery manufacturers, and carmakers over the last ten months of interaction.
The EV strategy of the Company is unchanged. The Company will continue to process these batteries in batches as they become available and process the limited quantities at its contracted pilot plant in Val-des-Sources, QC. The now fully commissioned plant should be sufficient for the current volume available and will allow the Company to showcase its capability to industrial partners and clients.
New Provisional Patent and IP Strategy
Four new intellectual property categories should result in the generation of a series of new provisional patents. Some are expected to be filed this month.
The categories cover these topics:
- Nickel-Cadmium battery regeneration;
- LiFe battery regeneration;
- Nickel recovery smelting;
- Battery carbon recovery.
Other Metallurgical Processes Initiatives
A series of tests of the lithium recovery process from refractory material like zinnwaldite is planned for the next quarter of 2022. The source of the material is permitted and located in Quebec. Management believes that unlocking this source of lithium could create an interesting source of royalties for the Company in the future.
Spodumene concentrate is being processed at the Company’s contracted pilot plant in Val-des-Sources, QC. Results from this initiative will be communicated to the public in the coming months.
The lithium-in-clay process is also being completed, with a final report expected by the end of Q2 2022.
“(…) St-Georges is still a small operation working within the restrictions that come with a limited budget (…) over the years this has forced management to be flexible and to constantly be on the look-out for on-the-fly adjustments to its business initiates while keeping an open-minded approach to partnership. (…) we are now experiencing the benefits of this lean culture. The goal is to put a product out in the short term that will be in high demand, like the nickel ingot expected to be produced with the new “cold smoked” process out of the nickel-cadmium batteries (…) our centers of excellence should be seen as optimized green urban mines, taking chemical and mineral by-products of our partners to reduce our operational costs, generating value-added products out of garbage, and limiting transport costs and lag time. (…) The current challenges created by the world economic situation, the transition to a decarbonized economy, the scarcity of workforce, and the constant delays in transportation and supply chain intensive operations have brought the world to us (…) we’ve been configured to shine in this context. (…)” said Frank Dumas, COO of the Company.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS
Director & COO
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle EV battery recycling. The Company explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on Quebec’s North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com
- Published in News Home, St-Georges Eco-Mining
St-Georges Changes its Financial Year End, Hires KRP Auditors & Provides Various Material Updates
St-Georges Eco-Mining Corp. (CSE:SX) (OTC:SXOOF) (FSE:85G1) is pleased to provide a status update on Company activities.
St-Georges announces the change of financial year end from December 31 to March 31. Further to the above, the Company has appointed Kingston Ross Pasnak LLP, hereafter referred to as KRP, Chartered Accountants, as auditors of the Corporation for the financial year ending March 31, 2022. KRP will fill the vacancy created by the resignation of Dale Matheson Carr-Hilton Labonte LLP as its independent auditor.
The Company’s decision to change auditors from Dale Matheson Carr-Hilton Labonte LLP was not the result of any disagreement between the Company and Dale Matheson Carr-Hilton Labonte LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. The Board of Directors believes KRP, Chartered Accountants, offers a much wider platform of services more suited to the Company’s diversified portfolio of projects.
In meeting the requirements of National Instrument 51-102 – Continuous Disclosure Obligations, the Company announces that it has elected to change financial year-end from December 31st to March 31st. No approvals are required to effect this change.
About KRP, Chartered Accountants
Kingston Ross Pasnak LLP is an independent accounting firm licensed to practice in Alberta by the Chartered Professional Accountants of Alberta and has been serving clients for 75 years. It is a partnership with 17 active partners and, in total, employs approximately 175 people. KRP has extensive experience providing auditing and ancillary services to public organizations, large and small, and is registered with the Canadian Public Accountability Board (CPAB) .
EVSX Update
A formalization of a consulting agreement was unanimously passed, acknowledging Enrico Di Cesare’s contributions to EVSX’s Research and Development efforts. The agreement calls for a signing bonus, certain payments at completion of defined benchmarks, and 1% NRR (Net Revenue Royalty) from any patent or patent application developed by the Corporation and its subsidiaries with his involvement.
Mr. Di Cesare is also tasked with identifying and recommending a general manager and associated staff to ramp up the pilot plant operations at the CIMMS location. The Company expects to identify a number of positions to be filled in the coming weeks and following the deployment of its updated plan for the proposed commercial operations in Baie-Comeau.
EVSX is in the process of adding another shredder to handle larger batteries and one or more conveyors to accelerate and automate the pilot plant process.
The significant amount of Ni-Cd spent battery feedstock available to the Company allows EVSX to plan a first-stage black mass separation unit to be in operation in 2022.
After the separation of aluminium, copper, and steel, additional processing of the black mass is now being tested with very recent breakthrough discoveries made by the Company’s metallurgical team. Independent tests are being completed in March, and IP protection is being sought for what would amount to a nickel-metal urban mine operation in operation later this year.
H2SX Update – Hydrogen
The Board of Directors unanimously appointed Dr. Sabin Boily as president of H2SX. Dr. Boily works in the valuation and marketing of high value-added technologies with a specific focus on protecting intellectual property, primarily in fields related to materials, renewable energy, and the environment. Dr. Boily holds a Bachelor’s degree in Engineering Physics from Polytechnique Montreal , a Master’s degree and a Ph.D. in Energy Science from the Universite du Quebec – Institut national de la recherche scientifique (INRS).
In addition to the above, Dr. Boily will also become Vice-President of Intellectual Property (IP) Strategy for St-Georges.
Dr. Boily is expected to travel to South Korea in the coming days to assist in finalizing the agreement with Wintec and its joint announcement. H2SX and its Korean partners are expected to prioritize the finalization of the detailed blueprints for the initial hydrogen plant expected to be built in Quebec later this year.
Iceland Resources Update
In September and October 2020, Iceland Resources contracted an RC drill hole to be drilled near the center of the Thor gold project. Additionally, a review of the work in April and May of 2021 was completed. A binocular microscope was used to evaluate the potential for free gold to occur in various sections of altered basalt. A decision to re-assay portions of the cuttings was made due to certain minute fragments of minerals that might have been visible gold.
In a previous press release, this hole (TH 20-01) was identified as a historic resampling of drill holes. This work was conducted to determine the potential for the possible existence of free gold that may have been undercounted in previous sampling. Although the results significantly differed in individual 0.3-meter sample intervals by as much as 60%, the average grades over the reported intervals increased by less than 15%. These results were not deemed significant as the near-term plan was to follow up with core drilling in the same area. Therefore, no previous release of results has been made.
During the last two quarters of 2021, a total of 1621.8 meters were drilled on the project. The first two holes completed did not meet the terms of the drilling contract, and a decision was made to pay for only a portion of these holes. Thus, a total of only 1,542 meters was formally completed in eight core holes. Drilling proceeded slowly with an average of 12 meters per day. The work was hampered by Covid-19 illness, logistics, weather, and other acts of God.
Although most results have been returned at this time, the Company has not been supplied with actual sample intervals and QA/QC sample numbers. The Company is waiting for all assays to be completed and certified and a final report from consultants to be submitted before supplying a press release.
STATEMENT BY HERB DUERR, P.GEO. AND QUALIFIED PERSON
The technical information contained in this report has been reviewed by Herb Duerr, P.Geo , for St-Georges Eco-Mining Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS
Director & COO
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle EV battery recycling. The Company explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on Quebec’s North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com
- Published in News Home, St-Georges Eco-Mining
Manicouagan’s Bulk Sample Material Contains Suite of Platinum Group Metals & Between 2.36 & 2.92% Nickel
St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to provide a status update on the Manicouagan Project located on the Québec North-Shore. Representative samples obtained from the approximately one metric ton bulk sample, collected in the fall of 2021, returned nickel grades between 2.36% and 2.92% and Palladium grades between 1.4 and 9.5 g/t.
The Company is in the process of finalizing a report for its 2021 Manicouagan exploration activities. Once the report is completed, the Company should be able to release additional results and additional comments. Assay results are considerably behind schedule and the report will necessarily have incomplete results for the drilling program.
The Company is continuing with the logging of historic core recovered from the 2006-2008 drilling programs. This work will allow for constructing of a three-dimensional model based on surface and drilling results and preparing for the next phase of drilling later this year.
Manicouagan Bulk Sampling
The Company’s exploration team collected approximately one metric ton of high-grade Ni-Cu-Co-PGE massive sulphide material from surface at the Bob Showing last fall. The showing is located near the center of the Manicouagan project area . The geologist team obtained this material from blasting and channel cuts to provide a metallurgical bulk sample. This bulk sample will test the recovery of nickel, copper, cobalt, platinum, palladium, rhodium, ruthenium, and iridium.
Four representative samples weighing from 1.51 to 5.82 kg totaling 13.65 kg from the Bob Showing were collected. The four samples were inserted into identified plastic bags and sealed. The sample bags were transported by helicopter first and then trucked to the facilities of Magnor Exploration Inc. in Ville de La Baie. The four bags were sent to the ALS Laboratories to determine an average grade for St-Georges incoming metallurgical tests. Results received from this work are included in Table 1 for PGEs and Table 2 for base metals.
The material collected is a massive sulfide with +50% sulfide content. The balance of the bulk sample is in airtight containers and stored in a safe place with a controlled oxygen and water atmosphere in order to avoid self-combustion of the ore rich in nickeliferous pyrrhotite. This material is waiting to be sent to St-Georges’ contracted metallurgical facilities.
The results are very encouraging and in line with past work conducted on the property.
Sample # | Weight | Pt | Pd | Os | Ru | Ir | Rh |
kg | ppm | ppm | ppm | ppm | ppm | Ppm | |
D591736 | 5.82 | 3.60 | 5.00 | 0.14 | 0.82 | 0.27 | 1.10 |
D591737 | 3.16 | 4.50 | 1.40 | 0.09 | 0.80 | 0.23 | 0.52 |
D591738 | 1.51 | 4.30 | 9.50 | 0.13 | 0.86 | 0.24 | 0.85 |
D591739 | 3.16 | 2.50 | 5.60 | 0.15 | 1.00 | 0.31 | 0.89 |
Average | 3.41 | 3.73 | 5.38 | 0.13 | 0.87 | 0.26 | 0.84 |
Table 1 – Representative PGE samples from Bulk sample collected from Bob Showing.
Sample # | Weight | Cu | Ni | Co | Fe |
kg | % | % | % | % | |
D591736 | 5.82 | 1.785 | 2.92 | 0.106 | 47.1 |
D591737 | 3.16 | 3.120 | 2.36 | 0.057 | 45.7 |
D591738 | 1.51 | 0.445 | 2.36 | 0.143 | 41.7 |
D591739 | 3.16 | 1.490 | 2.78 | 0.095 | 45.3 |
Average | 3.41 | 1.71 | 2.61 | 0.10 | 44.95 |
Table 2 – Representative sample results for base metals from Bob Showing.
Historic Core Sampling Program
The Company’s geological contractors for the Manicouagan project have retrieved all available historic core from the project site and are moving it to a facility located in Ville de La Baie, Quebec. The historic core includes approximately 4,500 meters of the 4,727 meters program completed in 2007-08. This core is being relogged and samples collected where not previously sampled. Due to the limited sampling by past explorers coupled with the realization that platinum group elements (PGEs) may be more widely distributed than previously identified, the Company is selectively sampling additional portions of the historic core.
STATEMENT BY JEAN-PAUL BARRETTE GÉO. / P.GEO. SENIOR GEOLOGIST AND QUALIFIED PERSON ACCORDING TO NATIONAL INSTRUMENTS NI 43-101
The technical information contained in this report has been reviewed by Jean-Paul Barrette Géo/ P.Geo , is an independent project geologist for Magnor Exploration Inc and consultant for St-Georges Eco-Mining Corp. Mr. Barrette is a member of the Ordre des Géologues du Québec (OGQ) with the membership number OGQ # 619. Mr. Barrette has sufficient experience (37 years) and relevant to the style of mineralization and the type of deposit under study and the activity undertaken to qualify as a competent person as defined by NATIONAL INSTRUMENT 43-101, Standards of Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS
Director & COO
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle EV battery recycling. The Company explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on Quebec’s North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX and trades on the US OTC under the Symbol SXOOF, and on the Frankfurt Stock Exchange under the symbol 85G1.
- Published in News Home, St-Georges Eco-Mining
St-Georges Eco-Mining Signs Agreement to Spin-Out Subsidiary ZeU
Momentum Public Relations
Press Release: May 31 2018
St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to announce the signing of an arrangement agreement providing for the spin-out of its subsidiary ZeU Crypto Networks Inc. with the intent of listing ZeU on the Canadian Securities Exchange.
Under the terms of the Arrangement Agreement, shareholders of St-Georges at the time of the completion of the Spin-Out, anticipated to be the latter part of July, will receive 11,249,825 shares of Zeu, representing one (1) share of ZeU for every eight (8) common shares of St-Georges held based on the current issued and outstanding share capital. A St-Georges Shareholders’ meeting to approve the Arrangement Agreement is set for July 5, 2018 and proxy materials related to the meeting will be delivered to shareholders and made available on SEDAR in June 2018. A copy of the Arrangement Agreement will also be filed on SEDAR. The Arrangement Agreement is subject to the acceptance of the CSE.
ZeU holds an exclusive license to use Qingdao Tiande Technologies Limited and Beijing Tiande Technologies Limited ‘s (collectively ” Tiande “) proprietary technologies, patents and know-how to develop and commercialize novel mineral commodity production chain control, tracking and trading exchanges, and has entered into a binding asset purchase agreement with Tiande, and the intervention Guiyang Tiande Technologies Limited, to acquire substantially all the intellectual property of Tiande, as more particularly described in St-Georges February 26 and May 22, 2018 press releases.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS, PRESIDENT & CEO
About St-Georges
St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.
The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
The release contains forwarding looking information and statements as defined by law including, without limitation, Canadian securities laws and the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995 (“forward-looking statements”), respecting St-Georges’ plans to spin-out its subsidiary ZeU. which is intended to be listed on the Canadian Securities Exchange. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by the forward-looking statements including that the spin-out may not be completed as planned or at all due to failure to obtain shareholder or regulatory approval ,the inability to complete the Acquisition, raise sufficient capital to adequately fund ZeU or a decision of the board of St-Georges not to proceed, which decision can be made at any time prior to closing. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and a number of assumptions that may prove to be incorrect, including, without limitation, assumptions about general business and economic conditions, the timing and receipt of required approval and continued availability of capital and financing. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein. The foregoing list is not exhaustive and St-Georges undertakes no obligation to update any of the foregoing except as required by law.
- Published in St-Georges Eco-Mining
St-Georges Eco-Mining Announces Spin-Out of Subsidiary ZeU Crypto Networks & Intellectual Property Acquisition Agreement Amendment with Tiande
Momentum Public Relations
Press Release: May 22 2018
St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) announces that it intends to spin-out its subsidiary ZeU Crypto Networks Inc., with the intent of listing ZeU on the Canadian Securities Exchange. The transaction is being undertaken to focus the efforts of St-Georges on its core mining, metallurgical processes and commodities management technologies related activities, while seeking to maximize shareholder value of the technologies to be acquired by ZeU by placing them in a separate public company. The spin-out will allow ZeU management to initiate and grow operations with no further restrictions.
Shareholders to receive one ZeU share for every 8 St-Georges shares.
It is proposed that the spin-out would be effected by way of a plan of arrangement (the “Arrangement “) which would see shareholders of St-Georges receive an aggregate of 11,249,825 shares of ZeU, representing one (1) share of ZeU for every eight (8) shares of St-Georges held, and St-Georges would retain 8,750,175, of the 20,000,000 shares of ZeU St-Georges currently owns. Additional information regarding distributions to shareholders will be disclosed by way of circular in the coming weeks.
Financing
ZeU is planning to complete an initial tranche of the previously announced debenture financing, prior to the spin-out, for up to an aggregate amount of $10 million dollars. The company won’t seek additional amounts within that proposed financing and will instead initiate a separate private placement in parallel to the Spin-Out transaction (“Concurrent Financing “) to be completed concurrently with the Arrangement by way of subscription receipt of ZeU (the “Subscription Receipts “) at a price of C$1,000 per Subscription Receipt. Upon closing of the Arrangement, each holder of Subscription Receipts will receive, for no additional consideration and subject to adjustment, one special warrant (the “Special Warrants “) that, upon the satisfaction of certain conditions, shall be automatically exercised, for no additional consideration, to acquire $1,000 principal amount of 10% unsecured convertible debentures of ZeU (each, a “Convertible Debenture ” and, collectively, the “Convertible Debentures “). Each Convertible Debenture shall be convertible into common shares of ZeU, as applicable, at a price of $1.00 per share, subject to adjustment in certain events.
Further details of the spin-out transaction, the Arrangement and the Concurrent Financing will be contained in the management information circular to be mailed to shareholders of St-Georges and filed on SEDAR in connection with the meeting of shareholders to be held to approve the transaction, currently contemplated to be held in July 2018. The Arrangement remains subject to approval by the shareholders of St-Georges, receipt of a final court order from the Superior Court of Quebec, and the approval of the listing of ZeU by the Canadian Securities Exchange. Notwithstanding the receipt of all requisite approvals, the directors of St-Georges reserve the right to elect to not to proceed with the Arrangement.
Amendment to Tiande Assets Acquisition Agreement
St-Georges also wishes to inform that, further to its February 26, 2018 press releases, ZeU has signed an agreement amending (the “Amending Agreement “) certain terms and conditions of its definitive asset purchase agreement dated February 23, 2018 with Qingdao Tiande Technologies Limited (“Qingdao “) and Beijing Tiande Technologies Limited (“Beijing ” and together with Qingdao, the “Vendors” ) with the intervention of Guiyang Tiande Technologies Limited to purchase substantially all the intellectual property of the Vendors (the “Acquisition “).
The purpose of the Amending Agreement is to eliminate uncertainties related to the closing of the Acquisition, expedite the Arrangement, which will allow ZeU to fully commit to the development of the Vendors’ Blockchain Technology, and facilitate the Concurrent Financing.
The material terms of the Amending Agreement are the removal of the minimum $10,000,000 concurrent financing condition, and the reorganization of the purchase price to provide for: (i) the delivery on the closing date, which will now occur concurrently with the completion of the Arrangement, to Vendors of 30,000,000 common shares of ZeU and 75,000,000 common share purchase warrants of ZeU exercisable at of $1.00 for a period of three years (3 years) following the listing of ZeU on a recognize stock exchange; (ii) the delivery, to the extent and only if all of the Milestone Conditions (please see February 26, 2018 press releases for details) are satisfied, an additional 45,000,000 common shares of ZeU; and (iii) the delivery, to the extent and only if the Patent Condition (please see February 26, 2018 press releases for details) is satisfied, of a final 75,000,000 common shares of ZeU.
The Acquisition remains subject to requisite regulatory approval and satisfaction of closing conditions contained in the agreement, including completion of the Arrangement.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS, PRESIDENT & CEO
Medias and Regulators Only: 514.295.9878
About St-Georges
St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.
The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
The release contains forwarding looking information and statements as defined by law including, without limitation, Canadian securities laws and the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995 (“forward-looking statements”), respecting St- Georges’ plans to spin-out its subsidiary ZeU. which is intended to be listed on the Canadian Securities Exchange. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by the forward-looking statements including that the spin-out may not be completed as planned or at all due to failure to obtain shareholder or regulatory approval ,the inability to complete the Acquisition, raise sufficient capital to adequately fund Zeu or a decision of the board of St-Georges not to proceed, which decision can be made at any time prior to closing. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and a number of assumptions that may prove to be incorrect, including, without limitation, assumptions about general business and economic conditions, the timing and receipt of required approval and continued availability of capital and financing. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein. The foregoing list is not exhaustive and St-Georges undertakes no obligation to update any of the foregoing except as required by law.
- Published in St-Georges Eco-Mining
St-Georges Retains Gravitas Securities Inc. as Strategic Financial Advisors
Momentum Public Relations
Press Release: March 20 2018
St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to announce that it has retained the services of Gravitas Securities Inc. to act as financial advisors to St-Georges and its related entities.
Gravitas will be tasked with assisting ZeU Crypto Networks Inc., St-Georges wholly-owned subsidiary, which is currently in the process of acquiring all the intellectual properties of Tiande, a developer of permission-based blockchain protocol with BigData connectivity. Gravitas will provide a number of services to ZeU including providing capital markets intelligence & guidance, financial & operational analysis of the company, and recommendations on capital requirements and strategic business decisions.
“With its contingent of Sino-Canadian personnel able to review our technology and business legal documentation in mandarin and the positive approach of the firm toward disruptive blockchain technologies, Gravitas is an excellent match for us. Their involvement should help us accelerate our financing effort with other securities firms and institutional investors. We also welcome their expertise to assist us for any corporate actions that might be undertaken in the coming months by the company” commented ZeU President Frank Dumas.
About Gravitas
Gravitas Securities is a leading wealth management and capital markets firm comprised of tactical individuals known for their sophisticated sector expertise, commitment to excellence, and a global platform committed to integration and innovation. Gravitas provides a wide range of investment services for retail and corporate clients globally with offices in Toronto and Vancouver, and is represented in the United States through its FINRA representative, Gravitas Capital International, in New York.
Gravitas Securities Inc. is a member of IIROC and CIPF.
ZeU Crypto Networks welcomes Lord Razzall as a director of the corporation
ZeU is pleased to welcome Lord Edward Timothy Razzall on its board of directors. Lord Razzall is a member of the British Parliament’ House of Lords and a Commander of the British Empire (CBE). Baron Razzall has been co-chair of the Liberal Democrat Parliamentary Committee on Business, Innovation and Science. He has over 35 years’ corporate finance experience and has developed a reputation for his expertise in multinational and cross border transactions. He was until recently the Liberal Democrat spokesman on Trade and industry and he’s now the Lords spokesman for manufacturing. He is currently Co-Chair of the Liberal Democrat Parliamentary Party Committee on Business, Innovation and Skills. Lord Razzall studied at Oxford University and qualified as a solicitor in 1969. ZeU expect to leverage Tim’s experience and interest in regulations, governance, monetary policies, intellectual property and corporate finance to its advantage.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS, PRESIDENT & CEO
About St-Georges
St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.
The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.
- Published in St-Georges Eco-Mining
St-Georges Eco-Mining Provide Corrections to February 26, 2018 News Release: St-Georges Eco-Mining Subsidiary ZeU Crypto Signs Definitive Agreement with Tiande
Momentum Public Relations
Press Release: February 27
St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) This document corrects and replaces the press release that was issued by St-Georges Eco-Mining Corp. (CSE: SX) today, February 26, 2018 at 11:56:26 AM EST. The error occurred in the paragraph three (3) where it should have read “75,000,000 common share purchase warrants” instead of “150,000,000” and “an additional 10,000,000 Shares” instead of “75,000,000”, the whole as a corrected copy below.
St-Georges Eco-Mining Subsidiary ZeU Crypto Signs Definitive Agreement with Tiande
-FOR IMMEDIATE RELEASE-
Montreal, February 26, 2018 – St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) announces that, further to its January 15 and February 8, 2018 press releases, its wholly owned subsidiary ZeU Crypto Networks Inc. (“ZeU”) has signed a definitive asset purchase agreement dated February 23, 2018 with Qingdao Tiande Technologies Limited (“Qingdao”) and Beijing Tiande Technologies Limited (“Beijing” and together with Qingdao, the “Vendors”) with the intervention of Guiyang Tiande Technologies Limited to purchase substantially all the intellectual property of the Vendors (the “Acquisition”).
The following are the material terms of the agreement:
-ZeU will acquire the Vendor’s intellectual property (including without limitation, all intellectual property and patent applications directly or indirectly related to the Blockchain and smart contract technologies of the Vendors (the “Blockchain Technology”), including without limitation, BigData, IoB, Sandbox) (the “IP”)
-the Vendors will complete: (i) the transfer and successful employment by ZeU of all key employees; (ii) the transfer and assignment of all the IP to ZeU; (iii) the obtaining of all regulatory approvals should they be required; and (iv) the obtaining of all required consents including all consents from clients and collaborators pursuant to the existing contracts of the Vendors (the “Milestone Conditions”)
-ZeU, the Vendors and key collaborators will enter into a license agreement and non-competition covenant which will provide, among other things, that ZeU shall irrevocably grant a perpetual , exclusive, transferable and sub-licensable license to the Vendors for use of the Blockchain Technology in China, Hong Kong and Taiwan
-ZeU will have completed or caused to be completed prior to the Closing Date a debenture financing of not less than $10,000,000 and up to $30,000,000 (the “Concurrent Financing”)
The purchase price for the Acquisition shall be up to 150,000,000 common shares of ZeU (each a “Share” and 75,000,000 Share purchase warrants (each a “Warrant”) to the Vendors, satisfied by (i) the delivery of a total of 65,000,000 Shares and 75,000,000 Warrants on the closing date of the Acquisition (the “Closing Date”), (ii) to the extent and only if all of the Milestone Conditions (as defined hereinabove) are satisfied, the delivery of an additional 10,000,000 Shares, within 3 Business Days following the satisfaction of the Milestone Conditions or the Closing Date (whichever is later) and (iii) to the extent and only if twenty (20) new patents pertaining to the Blockchain Technology are issued (the “Patent Condition”), the delivery of an additional 75,000,000 Shares, within 3 Business Days following the satisfaction of the Patent Condition.
Each Warrant will be exercisable at a price equal to the conversion price pursuant to the Concurrent Financing for a period of three (3) years following the date ZeU completes a transaction pursuant to which its Shares will either be listed on a recognized stock exchange in North America, or will be exchanged for common shares of a reporting issuer listed on a recognized stock exchange in North America.
The agreement was negotiated at arm’s length, and contains customary representations, warranties and closing conditions.
On closing of the Acquisition, Dr. Wei Tek Tsai is to join ZeU’s management as Chief Technology Officer.
The Acquisition remains subject to requisite regulatory approval and satisfaction of closing conditions contained in the agreement.
The Acquisition remains subject to a number of conditions as set forth in the agreement, including (without limitation), the completion of the Concurrent Financing (as defined hereinabove), the receipt of all requisite regulatory approvals and satisfaction of closing conditions contained in the agreement.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS, PRESIDENT & CEO
About St-Georges
St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.
The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.
- Published in St-Georges Eco-Mining, Uncategorized
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