MONTREAL, QUEBEC / TheNewswire / December 24, 2018 - Dundee Sustainable Technologies Inc. (the "Corporation" or "DST") (CSE: DST) is pleased to announce a $1.5 million technical services project with KSM Inc.
DST will provide to KSM the construction of specialized equipment, senior engineering support and bulk processing of mineralized material. This work will support an industrial demonstration using KSM Inc.'s proprietary process for the extraction of fertilizer products from the serpentinic tailings in Thetford Mines, Quebec. DST developed a standard price quote for these services based upon scope of services request provided by KSM. This transaction is a related party transaction by virtue of common management between DST and KSM.
KSM's technology was originally developed by DST, but the Corporation discontinued development in 2015 as it was no longer a core activity. Instead, DST focused all of its resources to the gold extraction and arsenic businesses. In 2017, DST sold and transferred the patent and intellectual "know-how" of the fertilizer technology to KSM. In exchange for the patent and this "know how", DST received a cash payment and a 5% equity stake in KSM.
KSM Inc. is a privately-owned company based in Thetford Mines whose objective is to commercialize an innovative process for the production of fertilizers. KSM's technology uses potash and sulfuric acid to produce potassium and magnesium sulphate (SOPM) and potassium sulphate (SOP), two high-end fertilizers. Hydrochloric acid is also produced as a by-product. The requisite magnesium may be found in the serpentinic tailings present in large quantities in the Thetford Mines area.
Mr. Brian Howlett, the CEO of DST commented, "The Corporation is pleased to provide technical services of this scope and scale to KSM as well as others in the mining business. These types of contracts are key to the utilization of our state-of-the-art pyro and hydro-metallurgical facility."
About Dundee Sustainable Technologies, a company 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 these processes in several countries.
FOR FURTHER INFORMATION PLEASE CONTACT:
President and CEO
Dundee Sustainable Technologies Inc.
Tel: (514) 866-6001 # 239
Cell: (647) 227-3035
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.
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