Sunday, June 27, 2021 9:30 PM PDT
(via TheNewswire)
Montréal - TheNewswire - June 28, 2021– St-Georges Eco-Mining Corp. (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to announce that it has executed a final option agreement that allows the Company to secure the land and building for its proposed battery recycling plant in the deep seaport of Baie-Comeau on the Québec North Shore.
The Company had previously disclosed that it had signed a binding term sheet regarding this matter by way of a press release titled ‘St-Georges Secures Future EV Batteries Recycling Plant & Engineering Expertise’ disseminated on April 19, 2021.
Early design and engineering reviews of the industrial plant being secured have not identified the need for a major overhaul. The Company will have 45 days following the reception of its final feasibility study report to decide to enter into a lease agreement for the building. The Company will be charged a pro-rotated rate for the lease established by the parties. The option to acquire the land and building has already been priced. This agreement allows the Company to save a significant amount of time that the permitting and construction of a new plant would have taken and should have a considerable impact on the final Capex costs of the project.