EnviroLeach Commences Civil Action to Protect its Intellectual Property

Rhea-AI Summary

EnviroLeach Technologies Inc. has initiated a civil action against Mineworx Technologies Ltd. in the Supreme Court of British Columbia to safeguard its intellectual property (IP). The lawsuit claims that Mineworx misappropriated EnviroLeach's IP related to eco-friendly chemical technologies for precious metal recovery. EnviroLeach contends that Mineworx's ongoing utilization of its IP violates multiple agreements, leading to a request for damages and an injunction against future use. EnviroLeach has invested over $30 million in developing these technologies.

Positive

• EnviroLeach has invested over $30 million in R&D for environmentally friendly processing technologies.
• The lawsuit aims to protect valuable intellectual property, which could enhance future market positioning.

Negative

• Allegations of IP misappropriation could lead to extended legal battles, potentially diverting resources.
• The lawsuit may create uncertainty about EnviroLeach's competitive advantage in the precious metal recovery sector.

VANCOUVER, BC / ACCESSWIRE / June 22, 2021 / EnviroLeach Technologies Inc. (the "Company "or "EnviroLeach"), (CSE:ETI) (OTCQB:EVLLF) (7N2:FSE) announces that, in order to protect its intellectual property, it has commenced a civil action against Mineworx Technologies Ltd. and related parties (collectively, the "Mineworx Defendants"), in the Supreme Court of British Columbia.

The Notice of Civil Claim against the Mineworx Defendants includes, among other things, the following allegations:

• The Mineworx Defendants, through various agreements with EnviroLeach (collectively, "Access Agreements"), gained access to certain of EnviroLeach's intellectual property ("EnviroLeach's IP") relating to the development and commercialization of environmentally friendly chemical formulas and technologies for use in the treatment of materials in the primary and secondary metals sectors.
• EnviroLeach terminated those Access Agreements with the Mineworx Defendants on several grounds, but principally on the basis that the Mineworx Defendants have misappropriated EnviroLeach's IP in breach of those Access Agreements.
• As a result of the termination of those Access Agreements, and absence a license from EnviroLeach, the Mineworx Defendants are not entitled to make, construct, use, or otherwise exploit any of EnviroLeach's IP. As the Mineworx Defendants do not have any such license or permission from EnviroLeach, EnviroLeach has given the Mineworx Defendants notice on several occasions to cease and desist using EnviroLeach's IP and to remove all contradicting representations of same from their corporate literature and website.
• Not only have the Mineworx Defendants not complied with EnviroLeach's notices to them to cease and desist using EnviroLeach's IP, the Mineworx Defendants have continued to make public statements in relation to their purported ability to develop and commercialize "proprietary, environmentally-friendly processing technologies for the recovery of precious metals".
• Based on the Mineworx Defendants' own public disclosure, absent the prior access to EnviroLeach's IP (which access has been terminated and the Mineworx Defendants are no longer entitled to use), the Mineworx Defendants did not have the scientific or technical resources and capabilities to develop and commercialize "proprietary, environmentally-friendly processing technologies for the recovery of precious metals".

EnviroLeach has invested over $30 million and 4 years in research and development of EnviroLeach's proprietary, environmentally friendly processing technologies for the recovery of precious metals, including methods for the extraction of platinum and palladium metals from recycled automotive catalytic converters (spent catalysts) using EnviroLeach's hydrometallurgical technologies. The Mineworx Defendants are now purporting to be competing with EnviroLeach in the recovery of PGM's from spent catalysts using a chemical formula and process based on EnviroLeach's IP and patents without a license to do so from EnviroLeach. These actions by the Mineworx Defendants are in breach of the Access Agreements, confidentiality agreements as well as the Asset Purchase Agreement between Mineworx and EnviroLeach dated December 19, 2016.

The Company is seeking, among other relief from the Court, general, aggravated, and punitive damages against the Mineworx Defendants and an injunction prohibiting the Mineworx Defendants from using any confidential information or intellectual property belonging to EnviroLeach and to cease making any further misstatements relating to EnviroLeach or confidential information or intellectual property belonging to EnviroLeach.

About EnviroLeach Technologies Inc.

EnviroLeach Technologies is engaged in the development and commercialization of environmentally-friendly formulas and technologies for the treatment of materials in the primary and secondary metals sectors. Using its proprietary non-cyanide, water-based, neutral pH treatment process EnviroLeach extracts precious metals from ores, concentrates, and E-Waste.

Backed by the momentum of a first-class staff of scientists and engineers, tens of thousands of individual tests and assays, independent validations, strategic partners and tens of thousands of hours in research and development, EnviroLeach's technology is emerging as a potential new standard for the provision of eco-friendly methods for the hydrometallurgical extraction of precious metals in both the mining and E-Waste sectors. Further information is available on the EnviroLeach web site: https://EnviroLeach.com

Forward-Looking Statements

This News Release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and the United States securities legislation. Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates," "believes," "may," "continues," "estimates," "expects," and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking information may include, but is not limited to, information with respect to our Research and Development activities, the accuracy of our capital and operating cost estimates; production and processing estimates; the results, the adequacy of EnviroLeach's financial resources and timing of development of ongoing research and development projects, costs and timing of future revenues or profits and adequacy of financial resources. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends", "targets" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning future revenue or earnings estimates may also be deemed to constitute forward-looking information. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information. Forward-looking information is based on the expectations and opinions of EnviroLeach's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information. The CSE has not approved or disapproved of the information contained herein.

Contact Information:

Jason Leikam
VP Corporate Development
EnviroLeach Technologies Inc.
info@EnviroLeach.com
(604) 282-0601

SOURCE: EnviroLeach Technologies Inc.

View source version on accesswire.com:
https://www.accesswire.com/652625/EnviroLeach-Commences-Civil-Action-to-Protect-its-Intellectual-Property

FAQ

What legal action has EnviroLeach Technologies Inc. taken against Mineworx Technologies Ltd.?

EnviroLeach has commenced a civil action to protect its intellectual property in the Supreme Court of British Columbia.

What allegations are included in EnviroLeach's civil action against Mineworx?

The allegations include misappropriation of EnviroLeach's intellectual property and breach of Access Agreements.

How much has EnviroLeach invested in R&D for its technologies?

EnviroLeach has invested over $30 million in the research and development of its environmentally friendly processing technologies.

What remedies is EnviroLeach seeking in its lawsuit against Mineworx?

EnviroLeach is seeking general, aggravated, and punitive damages, as well as an injunction against Mineworx's use of its IP.

What is the stock symbol for EnviroLeach Technologies?

The stock symbol for EnviroLeach Technologies is EVLLF.