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Montréal – TheNewswire – November 26, 2021 – St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to announce that it has, along with EVSX, its battery recycling subsidiary, entered into a binding term sheet with Wintech Energy Co ltd of Seoul, South Korea and ZeeOne Corporation from Canada. The executed agreement covers technological development and licensing for the production of what is referred to as the greenest hydrogen on the market.
The parties agreed to put in place, on or around February 5, 2022, a series of long form agreements that will cover technological licensing, operations, the set-up of a pilot plant, and further research & development. EVSX has negotiated the acquisition of an exclusive license for Nevada, Iceland, Québec, and Ontario and a limited exclusivity for mining and natural resources for Canada. St-Georges is a co-signatory and beneficiary of the agreement.
St-Georges’ management expects to be able to deploy multiple hydrogen production units within its proposed future battery recycling and fertilizer plants. Excess production could be used within St-Georges’ other verticals like the production of lithium from spodumene or eventually the treatment of nickel ores, as well as being sold on the market. The partners agreed to evaluate the deployment of an initial pilot plant in 2022 in the region around Saint-Hyacinthe in Québec. The pilot plant is expected to produce synthetic or bio-gas mainly from agricultural waste. Further tests should confirm the possibility of using EVSX’s remaining battery waste to produce the hydrogen at a commercial level.
Wintech’s microwave plasma technology produces hydrogen using methane without any carbon emissions. Battery-grade carbon is, in fact, a by-product of its operation, which makes its usage truly carbon negative.
Jung Cheol Park, CEO of South Korea’s Wintech Energy, commented: “Our microwave plasma technology, a collaboration between the Korean National Fusion Research Research Institute (NFRI), the Korea Institute of Energy Research (KIER), Kwangwoon University, Wintech Energy and the Ministry of Trade, Industry and Energy (MOTIE), is a highly efficient way to convert residues into hydrogen. We are currently optimizing our technology for 100% green hydrogen production, which means zero greenhouse gas emissions, high energy efficiency and not requiring the use of fresh water.“
Other Developments
Aluminium
EVSX has entered into a confidential agreement with two aluminium producers. The agreement establishes a right of first refusal to buy all the recycled aluminium from EVSX’s proposed battery recycling operations in Baie-Comeau. It also establishes the terms of collaboration between the parties that involves access to the partners’ aluminium testing facilities. Management also expects to provide alumina for quality testing when available.
Pilot Plant
The Company has received its precipitation units and expects to complete its configuration in December at the CIMMS contracted pilot-plant facilities. These will allow for the pilot operation of a full processing circuit for material requiring further front-end concentration.
Flow Through Share Offering Financing
St-Georges has received interest for all of its $5.5 million share offering financing announced on November 11, 2021. The Company expects to close in or around the end of next week when all documentation is expected to be completed.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS
COO & Director.
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
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.
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