MONTREAL, QUEBEC--(Marketwired - March 9, 2015) - NovX21 (TSX VENTURE:NOV) announces that, subject to required approvals from regulatory authorities, the Corporation will extend the expiration date of warrants issued in a private placement which closed on March 22nd, 2013, by two years at the exercise price of $0.20.
Each Warrant shall entitle the holder thereof to acquire one common share of the Corporation at a price of $0.20 until March 22nd 2017.
The warrants will be subject to an accelerator clause by which the warrant expiry date can be shortened at the choice of the Corporation if the share price closes on the Exchange at $0.25 or more for a period of more than twenty (20) consecutive trading days. In such a case, the new expiry date will be presumed to be the thirtieth day following the formal written notification by the Corporation.
"We are actively in discussions with a number of financial partners for the construction of a commercial plant in Quebec for the recycling of precious metals of the platinum group. We want to bring this project to fruition", said Sylvain Boulanger, President and chief executive officer of NovX21.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NovX21 operates an industrial prototype plant for the recovery of Platinum Group Metals (platinum, palladium and rhodium, or PGMs). The plant is located near Quebec City in St-Augustin-de-Desmaures. Its patented dry chlorination process yields more than 97% PGM recovery, and is fast, clean, low-cost and energy-efficient. NovX21's mission is to recover precious metals sustainably by recycling end-of-life PGM containing components while meeting global "green" standards for the automobile industry. For more information, visit www.novx21.com.
Sylvain Boulanger, P.Eng.
President & CEO
Phone: 514 282-2110
Nicole Blanchard, Managing Partner
Sun International Communications
Phone: 450 973-6600