EVSX Announces Closing of Financing
Montréal - St-Georges Eco-Mining Corp. (CSE: SX) (OTCQB: SXOOF) (FSE: 85G1) announces that EVSX Corp, its wholly-owned subsidiary, has completed a non-brokered private placement financing. EVSX Corp. ("EVSX") secured a Convertible Debenture ("Debenture") financing for gross proceeds of $360,000. Each debenture has a one-year maturity and bears a face value of $1,000, with an implicit annual interest of seventeen point six five percent capitalized in advance for $423,540 in total face value.
Each Debenture is convertible, at the discretion of the holder, into common shares in St-Georges Eco-Mining Corp. at an exercise price of $0.08. EVSX has the option to redeem the Debentures not earlier than ninety days following closing, and upon five day written notice to the debenture holders.
All securities issued under this Debenture will be subject to the standard regulatory four-month hold period. Proceeds will be used for the efficiency modifications at the Thorold plant and for general working capital purposes within EVSX. In connection with the Debenture financing, the Corporation paid a cash finder's fee of $9,600.
ON BEHALF OF THE BOARD OF DIRECTORS,
Neha Edah Tally
Corporate Secretary
About EVSX
EVSX operates a state of the art multi chemistry battery processing line, with capacity of twelve thousand five hundred tonnes per year, that efficiently sorts and fully recovers critical battery metals, aluminium, steel, copper and other materials used in batteries and repurposes the materials downstream back into the supply chain with nothing to landfill. EVSX holds relevant regulatory permits and a three year battery supply agreement with Call2Recyle and is expanding it's battery supply partners.
The EVSX plant is ideally situated in Thorold, Ontario (Niagara) within one of the most populated hubs for battery collection and is centrally located covering the largest automotive cluster in North America including Ford, General Motors, Stellantis (formerly Fiat Chrysler Automobiles).
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies and holds a diversified portfolio of assets and patent-pending Intellectual Property within several highly prospective subsidiaries including: EVSX, a leading North American advanced battery processing and recycling initiative; St Georges Metallurgy, with metallurgical R&D and related IP, including processing and recovering high grade lithium from spodumene; Iceland Resources, with high grade gold exploration projects including the flagship Thor Project; H2SX, developing technology to convert methane into solid carbon and turquoise hydrogen; and Quebec exploration projects including the Manicouagan and Julie (CSM) projects on Quebec's North Shore, and Notre-Dame niobium Project in Lac St Jean.
Visit the Company website at www.stgeorgesecomining.com
For all other inquiries: public@stgeorgesecomining.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
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