VANCOUVER, BC and CALGARY, AB, Nov. 25,
2024 /CNW/ - Northstar Clean Technologies Inc.
(TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is
pleased to announce that it has completed its second draw of
approximately $2.7 million under its
$8.75 million non-revolving senior
secured project loan facility (the "BDC Facility") with the
Business Development Bank of Canada ("BDC"), previously announced by the
Company on July 7, 2023, for the
Company's asphalt shingle reprocessing facility in Calgary, Alberta (the "Empower Calgary
Facility"). The Company completed its first draw of $1.6 million. on the BDC Facility on September 12, 2024. The Company expects to
continue drawing down on the BDC Facility as the Empower Calgary
Facility progresses through to completion.
Investor Webinar
The Company will host a virtual investor webcast to discuss its
third quarter 2024 results and to provide a business update to the
investment community on Monday, December 2,
2024 at 14:00 PDT /
17:00 EDT. Details are provided
below.
Topic: Northstar Clean Technologies Third Quarter
Financial Results Webcast
Date: Monday, December 2,
2024
Time: 14:00 PDT / 17:00 EDT
Registration:
https://us06web.zoom.us/webinar/register/9317315268247/WN_htnUetiTQGeulGFcjrV9mg
Approximately two hours after the Q&A session has ended, an
archived version of the webcast will be available via the webcast
URL above.
About Northstar
Northstar Clean Technologies Inc. is a Canadian 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 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 TSX Venture Exchange ("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) operation of the Empower Calgary
Facility and continuing to draw down on the BDC
Facility as the project progresses; (ii) the Company's
plans for reprocessing asphalt shingle waste; and (iii)
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 to 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
Company's annual information form for the year ended December 31, 2022 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+. Further, the ongoing labour shortages,
high energy costs, inflationary pressures, rising interest rates,
the global financial climate and the conflicts in Ukraine and Palestine and surrounding regions
are some additional factors that are affecting current economic
conditions and increasing economic uncertainty, which may impact
the Company's operating performance, financial position, and future
prospects. Collectively, the potential impacts of this economic
environment pose risks that are currently indescribable and
immeasurable. Readers are cautioned that forward-looking statements
are not guarantees of future performance or events and,
accordingly, are cautioned not to put undue reliance on
forward-looking statements due to the inherent uncertainty of such
statements. These forward-looking statements are made as of the
date of this news release and, unless required by applicable law,
the Company assumes no obligation to update these forward-looking
statements.
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SOURCE Northstar Clean Technologies Inc.