MONTREAL, QUEBEC--(Marketwired - April 3, 2017) - Dundee Sustainable Technologies Inc. ("DST") (CSE:DST)(CSE:DST.CN) announced today that its wholly owned subsidiary, Creso Exploration Inc., has reached an agreement with Toronto, Ontario based Premet Inc. ("Premet"), to sell its mining assets in the Shining Tree Area in Ontario.
The assets consist of fourteen (14) mining leases and thirty-seven (37) mining claims. As part of the agreement, Premet agreed to pay Creso a sum of Four Hundred Thousand Dollars ($400,000) and assume the obligations towards existing net smelter royalty holders.
"This transaction advances our strategy to concentrate in our core technologies, which is the commercialization of our cyanide-free gold extraction and arsenic stabilization technologies", says Brian Howlett, DST's President & CEO.
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.
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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