VANCOUVER,
BC, May 11, 2023 /CNW/ - Northstar Clean
Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the
"Company") is pleased to provide an update on the site development
work that began in early April at its planned asphalt shingle
reprocessing facility in Calgary,
Alberta (the "Empower Calgary Facility"). The site
development work is part of the Company's long-term lease agreement
for the Empower Calgary Facility and these expenditures are
included in the landlord's (the "Landlord") obligations under this
agreement. Additionally, the Company has released an updated
investor presentation available here.
Mr. Aidan Mills,
President & CEO and Director of Northstar, stated, "We are
pleased with the progress being made by the Landlord at the site of
our planned Empower Calgary Facility in Rocky View County. The land
is being prepared for construction, with a number of key
initiatives ongoing prior to taking possession of the property
which is expected to take place on July 1,
2023. We look forward to bringing our proprietary clean
technology to the Greater Calgary
Area and providing a solution to help divert asphalt
shingles from its landfills."
Update on Site Development Work
The
Landlord has removed debris and topsoil that was previously on the
site and begun grading and compacting the base. Site development
work will continue with:
- bringing in recycled granular material and placing it in the
yard at the site,
- paving the parking lot,
- landscaping the front of the site,
- and installing lighting, fences, and foundations for the weigh
scale.
The site drawings were completed by the Landlord
and as part of the previously announced conditional development
permit issued to the Landlord by Rocky View County, Alberta on January 30,
2023. The pre-construction development permit requirements
have been met and approved which allows commencement of the site
development work.
Updated Investor Presentation
The
Company also would like to notify its shareholders of the recently
updated investor presentation, which includes a summary of the
Company's recent updates. The presentation is available for viewing
and download on the Company's website at www.northstarcleantech.com
or at the following link:
https://docsend.com/view/e8c53v3mdyupcxg5.
About Northstar
Northstar Clean
Technologies Inc. is a Canadian-based clean technology company
focused on the sustainable recovery and reprocessing of asphalt
shingles. Northstar has developed a proprietary design process for
taking discarded asphalt shingles, otherwise destined for already
over-crowded landfills, and extracting the liquid asphalt for use
in new hot mix asphalt, shingle manufacturing and asphalt flat roof
systems, and aggregate and fiber for use in construction products
and other industrial applications. Focused on the circular economy,
Northstar plans to reprocess used or defective asphalt shingle
waste back into its three primary components for reuse/resale at
both its Empower Pilot Facility in Delta,
British Columbia and its first commercial scale up facility
in Calgary, Alberta. As an
emerging innovator in sustainable processing, Northstar's mission
is to be the leader in the recovery and reprocessing of asphalt
shingles in North America,
extracting the recovered components from asphalt shingles that
would otherwise be sent to landfill.
For further information about Northstar, please
visit www.northstarcleantech.com.
On Behalf of the Board of
Directors,
Aidan Mills
President & CEO, Director
Cautionary Statement on Forward-Looking Information
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release. The TSXV has neither approved nor disapproved the contents
of this press release.
This press release may contain forward–looking
information within the meaning of applicable securities
legislation, which forward–looking information reflects the
Company's current expectations regarding future events.
Forward-looking statements are often identified by the words "may",
"would", "could", "should", "will", "intend", "plan", "anticipate",
"believe", "estimate", "expect" or similar expressions.
Forward-looking statements in this press release include, but are
not limited to, statements concerning: (i) the anticipated
completion of the site development work; (ii) the anticipated date
for possession of the property; (iii) the anticipated development
and building of the Empower Calgary Facility; and (iv) Northstar's
ability to become a leader in the recovery and reprocessing of
asphalt shingles in North America.
Such statements are subject to risks and uncertainties that may
cause actual results, performance or developments to differ
materially from those contained in the statements, including risks
related the inability by Northstar to close the Private Placement
in whole or in part, other factors beyond the control of the
Company as well as those risks and uncertainties which are more
fully described under the heading "Risk Factors" in the final
prospectus of the Company dated June 18,
2021 and in the Company's annual and quarterly management's
discussion and analysis and other filings with the Canadian
securities regulatory authorities under the Company's profile on
SEDAR. The ongoing dispute between the sovereign state of
Ukraine and Russia also poses risks that are currently
indescribable and immeasurable. No assurance can be given that any
of the events anticipated by the forward-looking statements will
occur or, if they do occur, what benefits the Company will obtain
from them. The Company does not undertake any obligation to update
such forward–looking information whether because of new
information, future events or otherwise, except as expressly
required by applicable law.
Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results may vary
materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. Although the Company
has attempted to identify important risks, uncertainties and
factors which could cause actual results to differ materially,
there may be others that cause results not to be as anticipated,
estimated or intended and such changes could be material. The
Company does not intend, and do not assume any obligation, to
update the forward-looking statements except as otherwise required
by applicable law.
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SOURCE Northstar Clean Technologies Inc.