Minnova Renewable Energy to Present at Mission: Hydrogen's Online Workshop and Other Corporate Updates
Toronto, March 14, 2023 - Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ("Minnova" or the "Company"), will present Minnova Renewable Energy and our innovative biomass gasification technology to produce a high hydrogen content syngas at the Mission: Hydrogen 24-hour Hydrogen Online Workshop on Thursday, March 23, 2023 at 2:35p.m.- 3:55 p.m. eastern standard time.
Mission: Hydrogen hosts an online platform for learning and information webinars on everything about hydrogen production, storage, distribution, refueling stations, vehicles, fuel cells, hydrogen combustion engines, Power-to-X, hydrogen policies, strategies and more. Their website can be found at https://mission-hydrogen.de/.
The Hydrogen Online Workshop is the world's largest interactive online hydrogen event with over 10,000 current registered attendees from over 120 countries. Registration is free at https://www.hydrogen-online-workshop.com/.
Gorden Glenn, CEO commented, "Mission: Hydrogen is a global leader in the hydrogen sector providing a valuable interactive online platform for industry to present new technologies, real projects, best practices and innovative ideas in support of green hydrogen replacing fossil fuels to reduce CO2 emissions. Recognition of the potential of our innovative 3rd generation biomass gasification technology to produce high hydrogen content syngas by Mission: Hydrogen further supports and amplifies our strategic development plans. MRE management and our engineering and design team will provide an overview of our market development strategy, our innovative gasification reactor design and a pilot plant development update. Biomass gasification of agri-forest residues and municipal organic wastes is a viable pathway to produce decentralized green hydrogen and other biofuels. Following the presentation we will be available to answer questions."
Other Matters
The Company announces that it has granted an aggregate of 2,000,000 RSU's pursuant to the Omnibus Long Term Incentive Plan ("OLTIP"). Each RSU entitles the holder to acquire one common share of the Company by delivering an exercise notice in accordance with the OLTIP. The RSUs are subject to time-based vesting of 1/2 of the RSUs on each of the first and second anniversaries of the respective start dates for the officers and employees with the Company, subject to their being actively employed with the Company through such vesting dates.
The Company's shareholders approved the OLTIP at its annual and special meeting of shareholders held on February 21, 2023 and has been accepted by the TSX-V.
About Minnova Corp.
Minnova Corp. is an evolving cleantech company building a worldwide pipeline of green energy projects. Our subsidiary, Minnova Renewable Energy, is focused on innovative carbon reduction technologies such as the 3rd generation biomass gasification technology developed by DUMA Engineering (2018) Inc. As of September 30, 2022 Minnova owns 50% interest in DUMA. Acquisition of the remaining 50% interest will consist of a combination of cash payments and shares and will be dependent on several conditions, including; a) long run test performance of the demonstration plant to produce a 50% hydrogen content syngas, b) other techno-economic and environmental considerations, and c) filing of patent applications. In addition to receipt of all regulatory approvals.
Prior to 2021 Minnova Corp. has focused on the restart of its PL Gold Mine, which included completion of a Positive Feasibility Study in 2018. The study concluded the restart of the PL Mine, at an average annual production rate of 46,493 ounces over a minimum 5-year mine life was economically robust. Importantly the global resource remains open to expansion, as does the reserve. The PL Gold Mine benefits from a short pre-production timeline forecast at 15 months, a valid underground mining permit (Environment Act 1207E), an existing 1,000 tpd processing plant, over 7,000 meters of developed underground ramp to -135 metres depth. The project is fully road accessible and close to existing mining infrastructure in the prolific Flin Flon Greenstone Belt of Central Manitoba.
For more information please contact:
Minnova Corp.
Gorden Glenn
President & Chief Executive Officer
For further information, please contact Investor Relations at 647-985-2785 or info@minnovacorp.ca.
Visit our website at www.minnovacorp.ca.
Forward-Looking Statements
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This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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