/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC and CALGARY AB, Sept. 16,
2024 /CNW/ - Northstar Clean Technologies Inc. (TSXV:
ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to
confirm the closing of the previously announced $14.0 million royalty transaction (the
"Transaction") with CVW CleanTech Inc. (TSXV: CVW) (OTCQX: CVWFF)
("CVW CleanTech") announced on August 7,
2024. The Transaction funded as a five-year 10.0% second
secured convertible debenture (the "Royalty Debenture") convertible
into revenue royalties on two Northstar facilities and will
accelerate the development of Northstar's next two shingle
reprocessing facilities following the completion of its first
asphalt shingle reprocessing facility in Calgary, Alberta (the "Empower Calgary
Facility"). For additional details regarding the Transaction and
the terms of the Royalty Debenture, please refer to the Company's
news release dated August 7, 2024,
which is available under the Company's profile on
www.sedarplus.ca.
Mr. Aidan Mills, President &
CEO of Northstar, stated, "We are thrilled to finalize this
transformative transaction with CVW CleanTech. Adding CVW as a
strategic partner for the Northstar business strengthens our
ability to execute our growth plan, provides financial flexibility
and preserves shareholder value. The funds will allow us to move
swiftly on our next two facilities, building on the anticipated
success of the Empower Calgary Facility. The transaction
strengthens Northstar's capital structure, reduces Northstar's
near-term equity financing needs, and provides flexibility for
future financing."
Mr. Akshay Dubey, CEO of CVW
CleanTech, added, "We are pleased to have successfully closed our
first royalty transaction and look forward to a mutually rewarding
partnership with Northstar Clean Technologies. Our investment
reflects our confidence in Northstar's leadership and their ability
to execute on their growth strategy and deliver positive returns
which was supported by the overwhelmingly positive feedback from
our investors."
This news release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of
the securities in any state in which such offer, solicitation or
sale would be unlawful. The securities being offered have not been,
nor will they be, registered under the United States Securities Act
of 1933, as amended (the "1933 Act") and may not be offered or sold
to, or for the account or benefit of, persons in the United States or "U.S. persons" (as such
term is defined in Regulation S under the 1933 Act) absent
registration or an applicable exemption from the registration
requirements of the 1933 Act and applicable state securities
laws.
Marketing Agreements
Green Stock News
The Company is also pleased to announce it has entered into an
agreement with Green Stock News LLC ("GSN"), a Minnesota based company, to become a featured
issuer on www.greenstocknews.com. For a term of 12 months
commencing on the date hereof, GSN will host a profile page for the
Company on Greenstocknews.com, feature the Company on its
Environmental Solutions section, amplify the dissemination of the
Company's news across GSN's syndication channels (Spotify, Amazon
Audio, Stockhouse.com, Stocktwits.com, Youtube.com, X.com, and the
GSN newsletter), perform video production for the Company (approved
videos to be published on Youtube.com), perform search engine
optimization for the Company's profile on GSN, and feature the
Company in rotating display banners and video banners featured on
Greenstocknews.com. The fee for the 12-month program will be
US$15,000. The Company and GSN act at
arm's length and neither GSN nor any of its principals or staff
currently own any interest, directly or indirectly, in the Company.
The effective date of the agreement is September 17, 2024.
About Green Stock News LLC
Green investors start here. Green Stock News is 100% dedicated
to emerging green sectors that will shape the future. GSN reaches
the web's largest and most targeted niche of investors specifically
focused on identifying new opportunities within emerging green
sectors such as clean energy, cleantech, cannabis, and sustainable
transport.
Winning Media
The Company announces it has entered into an agreement with
Winning Media LLC ("Winning Media") to provide strategic digital
media and consulting services to the Company. Winning Media is a
Houston, Texas based marketing
agency that delivers services to a diverse group of clients across
North America, providing strategic
digital media services, marketing, advertising and data analytic
services. The Company and Winning Media act at arm's length and
neither Winning Media nor any of its principals currently own any
interest, directly or indirectly, in the Company. Under the terms
of the agreement, Winning Media will provide strategic digital
media services including marketing services, news dissemination,
data analytics services, content development, media buying and
distribution, and campaign reporting and optimization. The Company
has agreed to pay Winning Media an upfront fee of USD$35,000 and the services are expected to take
place between the date hereof and February
28, 2025.
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 nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. The TSX Venture Exchange 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 statements concerning: the
anticipated transformative impacts to Northstar as described
herein; the expected transformative nature of the Transaction; the
acceleration of business development that is anticipated from the
Transaction; expansion plans; the anticipated reduction in
dependence on future capital raising activities; expectations for
commercialization of the Company's business; and anticipated
marketing activies. 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; inability of the Company to execute on its business
plans; the Company may require additional financing which may not
be obtainable or on favourable terms; economic uncertainty; and the
risks and uncertainties which are more fully described under the
heading "Risk Factors" 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+. 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.
SOURCE Northstar Clean Technologies Inc.