Press Releases

DST Announces $ 1.1 Million New Financing

September 23, 2020

MONTREAL, QUEBEC, September 23, 2020 – Dundee Sustainable Technologies Inc. (“DST” or the “Corporation”) (CSE: DST) is pleased to announce that it has executed a new financing with the government of Québec in the form of a new secured loan of an amount up to $1,107,500 from (the “Financing”). The Financing has been granted under Investissement Québec’s Support for Innovation Program and will be used by the Corporation to apply against business development expenses.

The Government of Québec will advance the Financing to DST in a maximum of three instalments, upon presentation of invoices, during the admissible expenses period that expires on December 31, 2021. The Financing will mature six (6) years since the initial disbursement from the government of Québec and will bear interest at a rate of 3.04% per annum. The Corporation will benefit from a 24-month moratorium period on the repayment of capital since the first disbursement, after which, the capital will be reimbursed in 48 monthly installments. The Financing is secured by a second-degree hypothec over all of DST’s property other than the intellectual property.

David Lemieux, CEO of DST declared: “With the securing of this new Financing, DST is now well positioned to accelerate the commercialization of our technologies. We would like to thank the government of Quebec that is once again demonstrating its support and belief in the merits of our technologies and our business plan.”

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