EnviroLeach Secures E-Waste Material and Strengthens Supply Chain
EnviroLeach Technologies has announced the purchase of 42.5 tonnes of end-of-life printed circuit board assemblies (PCBAs) from a Middle Eastern supplier. This acquisition includes 15 tonnes of high-grade and 27.5 tonnes of low-grade PCBAs, which will support their processing facility in Vancouver. The company aims to foster relationships in the MENA Region for potential monthly feedstock of over 500 tonnes. CEO Duane Nelson highlighted this as a crucial step towards achieving revenue targets and ensuring financial sustainability.
- Secured 42.5 tonnes of PCBAs, enhancing supply chain.
- Potential for over 500 tonnes of monthly PCBA feedstock.
- Strengthened international partnerships for processing and revenue growth.
- None.
VANCOUVER, BC / ACCESSWIRE / November 4, 2020 / EnviroLeach Technologies Inc. ("EnviroLeach"), (CSE:ETI)(OTCQB:EVLLF)(FSE:7N2) is pleased to announce an initial purchase of 42.5 tonnes of end-of-life printed circuit board assemblies ("PCBAs") from an established Middle Eastern e-waste supplier. The purchase consists of 15 tonnes of high-grade PCBAs and 27.5 tonnes of low-grade PCBAs and will provide feedstock for Enviroleach's Vancouver PCBA processing facility.
Hanif Jafari, EnviroLeach's chief technology officer, is currently visiting Middle Eastern and North African countries (the "MENA Region") sourcing e-waste material, establishing relationships with e-waste suppliers and processors, and investigating the viability of setting up a sorting and primary processing facility in region. The MENA Region is home to a large supply of e-waste and several established suppliers of PCBAs. The Company believes relationships being established within the MENA Region have the potential to deliver over 500 tonnes of PCBA feedstock per month.
Duane Nelson, President and CEO comments, "I am very pleased we continue to forge strong international partnerships for PCBA feedstock and potential international processing. Our latest PCBA purchase and the new MENA Region relationships we are developing will help us achieve our short and long term PCBA processing and revenue targets. Today's development is another significant milestone toward the broad-scale global adoption of our innovative technology and, most importantly, it drives revenue and cash flow growth towards our own financial sustainability."
EnviroLeach is committed to developing a broad-based and geographically diverse supply chain of PCBA feedstock material. The Company has established relationships with suppliers based in North America and Europe and is building relationships with new suppliers globally.
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 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.
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