DST Announces Closing of a 3,800 Tonnes Contract and Board Departure
MONTREAL, QUEBEC, April 1st , 2021 – Dundee Sustainable Technologies Inc. (“DST” or the “Corporation”) (CSE: DST) is pleased to announce that, pursuant to successful results on the processing of a first 150 tonnes of material for its Client (see Press release December 14th, 2020), the final agreement for the processing of the balance of the 3,800 tonnes has been signed. The signature of this contract represents the final step DST needed to fully engage the processing of the material. DST’s plant has been restarted in March to execute this contract which is expected to last for 2 to 3 years. The contract is structured on a cost +20% basis and should generate about $3.5M in revenue for the Corporation.
This contract is part of DST’s strategy to leverage its plant in Thetftord Mines, Quebec, in order to generate revenues while the Corporation is commercializing its GlassLock Process™ and CLEVR Process™.
Mr. David Lemieux, the President and CEO of the Corporation stated: “This contract represents an important inflow of funds for DST that will provide us with additional financial stability while we continue working on the commercialization of our technologies. We are also working on a number of other similar opportunities as part of the Technical Services branch of our business plan.”
DST is also announcing the resignation of Mr. Brian Howlett from its board of directors. Mr. Howlett has been an active member of the board for the last 6 years and his departure represents the final step of him transitioning out of the Corporation since his resignation as CEO in 2020 (see Press Release January 27th, 2020). Mr. David Lemieux commented: “We would like to thank Brian for his contribution to transform DST from a R&D company to a Technology Provider. The Board and Management are wishing him all the best in his new ventures.”
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