Envirometal Technologies Inc. (EVLLF)

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News! enCore Energy Announces Formation of Group 11 Technologies

Press Release | 09/01/2020

VANCOUVER, British Columbia, Sept. 01, 2020 (GLOBE NEWSWIRE) -- enCore Energy Corp. (TSX-V: EU) (OTCQB: ENCUF) (the "Company") reports that it has completed necessary agreements to acquire 40% of Group 11 Technologies Inc., (‘Group 11”) a United States-based private company committed to testing and implementing non-invasive extraction technologies (“in-situ recovery” or “ISR”) of precious metals with the use of environmentally-friendly solutions. Group 11 has now completed a successful commercial launch. Effective August 28th, 2020 the Group 11 has finalized all necessary Organizational, Shareholder, and Licensing documentation with its founding partners and will now commence formal operations. Group 11’s initials steps will include acquisition and subsequent testing of already identified gold projects that demonstrate specific qualities lending themselves to the Company’s environmentally and economically superior processes. Group 11 is committed to providing commercially viable, sustainable alternatives to conventional mining for the extraction and processing of precious metals.

Group 11 was founded and is owned by enCore Energy Corp. (“enCore”) (TSXV: EU; OTCQB: ENCUF) with 40% of the common stock, EnviroLeach Technologies Inc. (“EnviroLeach”) (CSE : ETI; OTCQB: EVLLF) with 40% of the common stock and Golden Predator Mining Corp. (“Golden Predator”) (TSXV: GPY; OTCQB: NTGSF) with 20% of the common stock. EnCore has contributed $750,000 in initial funding and will provide in-situ extraction expertise, EnviroLeach has entered into a license agreement with Group 11 for the use of its environmentally friendly metal recovery process and will provide chemical and metallurgical expertise, Golden Predator will contribute mobile processing equipment and expertise in utilizing EnviroLeach’s environmentally friendly solution for recovery of gold from sulphide concentrates. Group 11, a private company, will finance all ongoing research and development expenditures for in-situ and secondary recovery applications.

https://www.otcmarkets.com/stock/EVLLF/news/enCore-Energy-Announces-Formation-of-Group-11-Technologies?id=272619