MONTREAL, QUEBEC--(Marketwired - Aug. 15, 2016) - Dundee Sustainable Technologies Inc. ("DST" or the "Corporation") (CSE:DST) is announcing the appointment of Mr. Brian Howlett as Interim President and Chief Executive Officer in replacement of John W. Mercer. Mr. Howlett has been a director of the Corporation and Chair of the Audit Committee since October 2015.
The Corporation has initiated the search of a permanent replacement and wishes to extend its thanks to Mr. Mercer for his contribution to the Corporation.
At the Annual General Meeting, the shareholders voted in favour of the election of the incumbent Directors and the election of Mr. Mario Jacob as new member of the Board. Mr. Jacob is Managing Director and Chief Operating Officer of NCP Investment Management. He is a graduate from the Faculty of Law of Laval University and a member of the Quebec Bar since 1995. Mr. Jacob has more than twenty years of corporate finance, mergers and advisory experience and has been involved as lead advisor in numerous transactions including mergers and acquisition, going public transactions, financing and governance best practices implementation. Mr. Jacob has experience as board member of several public companies.
In addition to Mr. Howlett, the following officers were appointed: David Lemieux as Executive Vice-President, Vatche Tchakmakian as Chief Financial Officer and Jean-Philippe Mai as Vice-President Business Development.
About Dundee Sustainable Technologies, a company controlled by Dundee Corporation
The Corporation is engaged in the development 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 ores, 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.
At present, DST's most advanced proprietary processes are associated to the extraction of precious metals using a chlorination process which provides a cyanide-free alternative for the exploitation of gold deposits. The primary benefits of this innovative technology are shorter processing times, a closed-loop operation eliminating the need for costly tailings pond, and a reduced environmental footprint related to the inert and stable characteristics of the cyanide free tailings.
The chlorination process developed by DST is a recognized "green technology" for which it was awarded a $5 million grant from the Government of Canada to assist in the construction and operation of a demonstration plant. The plant will serve as a demonstration platform for the chlorination process on an industrial scale and under continuous operating conditions.
In addition to this chlorination process, DST operates a pilot plant designed to demonstrate its arsenic stabilization process which is designed for the sequestration of arsenic in a stable glass form. This process is becoming an attractive solution to segregate the arsenic and is therefore opening opportunities for materials considered to contain too much of this toxic material to be exploited or stabilized using conventional approaches.
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.
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.