MONTREAL, May 06, 2020 (GLOBE NEWSWIRE) -- Geomega Resources Inc. (“Geomega” or the “Corporation”) (TSX:V.GMA) (OTC: GOMRF), a rare earths clean technologies developer for mining and recycling, today announces that the Company has completed the retrofit of its pilot plant and has begun the production of hand sanitizer for the Québec market.
As indicated in the April 20, 2020 press release, the Corporation obtained the natural product number (“NPN”) and all the approvals from Health Canada in order to manufacture and distribute hand sanitizer using the WHO-recommended formulation. The modifications have now been completed and production has begun. The production is from the Corporation’s Pilot Plant and allows Geomega to produce up to 675 liters per week. Although, since there is a significant lack of supplies in the market, production capabilities will depend on availability of raw materials from local distributers. The Corporation will be securing additional supply of raw material and focus on distributing its hand sanitizer product to local retirement homes, hospitals, pharmacies and distributers in the province of Québec. The Corporation will be donating 20% of its hand-sanitizer production to local long-term care homes and other charities who are helping the most vulnerable in our society during this pandemic. The Corporation would like to thank local suppliers who were able to assist and support us during this quick transition.
The Corporation would also like to clarify that the production of hand sanitizer is a temporary measure to help with local supplies and is not a change of business. All the regular activities of the Corporation, most importantly the engineering work for the rare earths recycling plant, are continuing in parallel as planned.
About Geomega (www.geomega.ca)
Based in Boucherville and St-Bruno, Canada, Geomega Resources has developed a proprietary, environmentally friendly “ISR Technology” that recycles rare earth elements with focus on the permanent magnet industry and produces four high demand, high price, rare earth elements (HHREE – specifically Nd, Pr, Tb, Dy).
The Corporation is advancing towards initial production from its demonstration plant to supply HHREE’s to North America and other parts of the world.
Geomega also owns the Montviel rare earth carbonatite deposit and holds over 16.8M shares, representing approximately 19% of the issued and outstanding shares of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is advancing the Mitchi stratiform copper project in Quebec.
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This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including as regards the commercialization of any of the technology referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s annual management’s discussion and analysis for the fiscal year ended May 31, 2019, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.