CALGARY,
AB, Feb. 14, 2024 /CNW/ - CVW CleanTech
Inc. (the "Company" or "CVW CleanTech") (TSXV: CVW) (OTCQX:
CVWFF) is pleased to announce that the Company will begin
trading today on the OTCQX Best Market under the symbol "CVWFF".
The OTCQX Best Market is the highest tier of OTC Markets on which
12,000 U.S. and global securities trade. U.S. investors can find
current financial disclosures and Real-Time Level 2 quotes for the
Company at https://www.otcmarkets.com/stock/CVWFF/overview.
CVW CleanTech's CFO, Joshua
Grant, said "Trading on OTCQX will enhance the visibility
and accessibility of the Company to U.S. based investors. We
are pleased to have achieved this milestone and look forward to
providing value and convenience to U.S. investors, brokers, and
institutions seeking to invest in the Company."
The Company is in the process of securing Depository Trust
Company ("DTC") eligibility for its common shares. DTC manages
electronic clearing and settlement of publicly traded companies
across the United States and in 131 other
countries. Trading through DTC allows for cost-effective
clearing and guaranteed settlement, simplifying and accelerating
the settlement process of daily trades.
The Company's common shares will continue to trade on
the TSX Venture Exchange under the symbol "CVW".
About CVW CleanTech
Inc.
CVW CleanTech Inc. is a clean technology innovator
working to develop sustainable technology solutions. The Company
has developed a suite of proprietary technologies called Creating
Value from Waste™ ("CVW™") that recover bitumen, solvents,
critical minerals, and water from oil sands froth treatment
tailings while significantly reducing tailings pond emissions
and enhancing tailings management.
On an annual basis, an industry wide implementation of a CVW™
EcoMax development option could be expected to:
- Recover 13.2 million barrels of hydrocarbons (11.4 million
barrels of bitumen and 1.8 million barrels of solvent);
- Produce 1.5 million tonnes per year of critical mineral
concentrates in the form of titanium and zircon;
- Abate up to 5,000,000 tonnes of CO2 equivalents,
primarily methane;
- Eliminate up to 30,000 tonnes of volatile organic compounds
(VOCs - considered toxic substances by Environment and Climate
Change Canada);
- Potentially eliminate tailings pond growth due to froth
treatment operations, and
- Generate annual revenues of $2.7
billion within the province of Alberta.
Diverting the froth treatment tailings stream to a CVW™ EcoMax
operation could recover up to 90% of bitumen and solvent that are
currently lost into tailings ponds, avoid the associated fugitive
methane emissions, as well as capture valuable zircon and titanium
mineral concentrates. This patented and ready-to-deploy process
would produce "Ready-to-Reclaim" tailings to meet the Alberta
Energy Regulator's Directive 85 standards which would provide a
step change in tailings management and allow for progressive
remediation.
CVW CleanTech has invested over $100
million and over 15 years to advance the CVW™ technology to
ready-to-deploy status. This technology has been supported by large
scale integrated piloting and progressive commercial engineering
studies resulting in 20 active patents. The development of the
Company's technology has been supported by the Government of
Alberta and the Federal Government
along with oil sands industry partners. Additional information on
CVW CleanTech and its proprietary technology can be found within
the Company's Process and Technology Overview which is accessible
using the link below:
https://cvwcleantech.com/technology/process-and-technology-overview/
Disclosure regarding
forward-looking information
This news release contains forward-looking statements and
information within the meaning of applicable Canadian securities
laws (collectively, "forward-looking information") that reflect the
current expectations of management about the future results,
performance, achievements, prospects, or opportunities for CVW
CleanTech.
Forward-looking statements are frequently, but not always,
identified by words such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible" and similar
expressions, or statements that events, conditions or results
"will", "may", "could" or "should" occur or be achieved. The
forward-looking statements may include statements regarding
expected timelines and results of deployment
of CVW™ technologies and its business plan, the
anticipated adoption of CVW™ technologies by industry
participants and the timing for the same, estimated financial
results from the implementation and adoption of CVW™
technologies, expected macroeconomic conditions for the
deployment of CVW™ technologies, potential
diversification opportunities and other future opportunities,
statements regarding the benefits and implications of the
implementation of our technologies or other statements
that are not statements of fact. Forward-looking statements
are statements about the future and are inherently uncertain, and
actual achievements of the Company may differ materially from those
reflected in forward-looking statements due to a variety of risks,
uncertainties, and other factors. For the reasons set forth above,
investors should not place undue reliance on forward-looking
statements. Important factors that could cause actual results to
differ materially from the Company's expectations include: the
ability to advance the technologies of the Company on a timely
basis or at all; reliance on estimates prepared by third parties;
current estimates and predictions being based on certain
assumptions about the industry in which the Company operates and
macroeconomic conditions generally; uncertainties in the timing and
receipt of regulatory and exchange approvals; uncertainties
involved in disputes and litigation; fluctuations in interest
rates, commodity prices, currency exchange rates, and other
financial conditions, and the resultant effect on viability of
investments; changes in the availability, and cost, of technical
labour required for our business; price escalation and/ or
inflationary pressures affecting the cost of equipment and material
required to commercialize our projects; the uncertainty of
estimates of capital and operating costs; the need to obtain
additional financing and uncertainty as to the availability and
terms of future financing; the impact on the Company of increasing
inflation; and other risks and uncertainties disclosed in other
information released by the Company from time to time and filed
with the appropriate regulatory agencies.
All forward looking statements are based on the Company's
beliefs and assumptions which are based on information available at
the time these assumptions are made, and is necessarily based upon
a number of assumptions that, while considered reasonable by the
Company, are inherently subject to significant operational,
business, economic and regulatory uncertainties and contingencies.
The Company has made the following assumptions in relation to the
forward-looking statements in this press release: the expected
environmental and economic benefits to be achieved from CVW™
technologies; the ability of the Company to successfully access
various government funding programs; reliance on economic
estimations prepared and assumptions made by third parties; the
details of government funding programs and that such programs will
be implemented (and not change) as expected; that the Company will
continue to be able to protect its intellectual property and
proprietary technologies; assumptions as to various market and
commercial opportunities for the Company and its technologies; and
the ability of the Company to continue to develop and commercialize
its technologies. The forward-looking statements contained herein
are as of the date set out above and are subject to change after
this date, and the Company assumes no obligation to publicly update
or revise the statements to reflect new events or circumstances,
except as may be required pursuant to applicable laws.
Although management believes that the expectations
represented by such forward-looking information or statements are
reasonable, there is significant risk that the forward-looking
information or statements may not be achieved, and the underlying
assumptions thereto will not prove to be accurate. Actual results
or events could differ materially from the plans, intentions and
expectations expressed or implied in any forward-looking
information or statements, including the underlying assumptions
thereto, as a result of numerous risks, uncertainties and factors
including: failure to obtain regulatory approvals; the possibility
that opportunities will arise that require more cash than the
Company has or can reasonably obtain; dependence on key personnel;
dependence on corporate collaborations; potential delays;
uncertainties related to early stage of technology and product
development; uncertainties as to fluctuation of the stock market;
uncertainties as to future expense levels and the possibility of
unanticipated costs or expenses or cost overruns; and other risks
and uncertainties which may not be described herein.
For further information, please contact:
Akshay Dubey
|
Joshua Grant
|
CEO
403.460.8135
|
CFO
403.460.8135
|
Akshay.Dubey@CVWCleanTech.com
|
Joshua.Grant@CVWCleanTech.com
|
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE CVW CleanTech Inc