THETFORD MINES, QUEBEC – TheNewswire - May 23, 2025 – Dundee Sustainable Technologies Inc. (“DST” or the “Corporation”) (CSE: DST) is providing a status update regarding its outstanding financial obligations and ongoing efforts to restructure its balance sheet.

 

As of May 15, 2025, certain loans and convertible debentures held by the Corporation reached their maturity date without repayment. These include $20 million in loans held by Dundee Resources Limited (“DRL”) and a $5.7 million convertible debenture held by Investissement Quebec (“IQ” and collectively with DRL the “Creditors”). The Corporation acknowledges that these financial obligations have come due and remain unpaid at this time.

 

DST is actively engaged in constructive discussions with both DRL and IQ to explore solutions that would restructure the Corporation’s balance sheet and address its current financial position. While no definitive agreement has been reached as of today, the Corporation is working diligently with its Creditors to reach a mutually beneficial resolution that avoids a formal default and supports long-term business stability.

 

"We understand the importance of resolving these matters in a timely and transparent manner,” said Jean-Philippe Mai, CEO of DST “We are confident that an agreement can be reached soon that serves the best interests of all parties involved, including our stakeholders and shareholders.”

 

DST will provide an additional update and issue a new press release as soon as an agreement has been finalized.

 

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. 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.