Montreal, Quebec, March 12, 2014 – 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 one year and increase the exercise price from $0.15 to $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, 2015, an extension of 12 months.
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.
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.
NovX21operates an industrial prototype plant for the recovery of Platinum Group Elements (Platinum, Palladium and Rhodium or PGMs). The plant is located near Quebec City in St-Augustin-de-Desmaures. Its patented process yields more than 97% recoveries of PGMs, and is not only much less capital extensive but also operates much more rapidly than conventional plants thus dramatically lowering the amount of time that its customers capital is tied up as work-in-process inventory. NovX21's mission is to sustainably recover precious metals by the recycling of end-of-life PGM containing components while meeting global "green" standards for the automobile industry.
NovX21also holds the mineral rights to six mining properties and has focused its exploration activities on the Menarik property in the James Bay area, in the Province of Quebec, the site of a major chromite deposit with occurrences of gold, nickel, copper and platinum group metals (PGMs). The operation of NovX21's patented and proprietary processes to such deposits may lead to a breakthrough in low cost primary mining metallurgy in the near future.
Sylvain Boulanger, P.Eng.
President & CEO
Phone: 514 282-2110
Nicole Blanchard, Managing Partner
Sun International Communications
Phone: 450 973-6600