/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC and CALGARY, AB, Sept. 19,
2024 /CNW/ - Northstar Clean Technologies Inc. (TSXV:
ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to
announce that the Company has granted (the "Grant") restricted
share units ("RSUs") and stock options ("Options") to certain
directors, officers, employees and consultants in pursuant to the
Company's Omnibus Equity Incentive Plan dated November 28, 2023 (the "Plan").
The board of directors of the Company has approved the grant of
an aggregate of 850,582 RSUs and 2,625,002 Options to certain
directors, officers, employees and consultants of the Company. Each
RSU was granted at a deemed price of $0.215 and represents, once vested, one common
share in the capital of the Company (each, a "Share'). Upon
vesting, each Option may be exercised to purchase one Share at a
price of $0.215 per Share for a
period of five years from the date of issuance.
All of the Options, the RSUs and the Shares underlying such
Options and RSUs, as applicable, are subject to a hold period of
four months and one day from the date of issuance.
Further details regarding the Plan are set out in the management
information circular of the Company dated May 14, 2024, which is available on the Company's
website at www.northstarcleantech.com or on SEDAR+ at
www.sedarplus.ca.
None of the securities acquired in the Grant will be registered
under the United States Securities Act of 1933, as amended (the
"1933 Act"), and none of them may be offered or sold in
the United States absent
registration or an applicable exemption from the registration
requirements of the 1933 Act. This news release shall not
constitute an offer to sell or solicitation of an offer to buy nor
shall there be any sale of the securities in any state where such
offer, solicitation, or sale would be unlawful.
About Northstar
Northstar Clean Technologies Inc. is a Canadian clean technology
company focused on the sustainable recovery and reprocessing of
asphalt shingles. Northstar has developed a proprietary design
process for taking discarded asphalt shingles, otherwise destined
for already over-crowded landfills, and extracting the liquid
asphalt for use in new hot mix asphalt, shingle manufacturing and
asphalt flat roof systems, and aggregate and fiber for use in
construction products and other industrial applications. Focused on
the circular economy, Northstar plans to reprocess used or
defective asphalt shingle waste back into its three primary
components for reuse/resale at its first commercial scale up
facility in Calgary, Alberta. As
an emerging innovator in sustainable processing, Northstar's
mission is to be the leader in the recovery and reprocessing of
asphalt shingles in North America,
extracting the recovered components from asphalt shingles that
would otherwise be sent to landfill.
For further information about Northstar, please visit
www.northstarcleantech.com.
On Behalf of the Board of Directors,
Aidan Mills
President & CEO, Director
Cautionary Statement on Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. The TSX Venture Exchange has neither
approved nor disapproved the contents of this press
release.
This press release may contain forward–looking information
within the meaning of applicable securities legislation, which
forward–looking information reflects the Company's current
expectations regarding future events. Forward-looking statements
are often identified by the words "may", "would", "could",
"should", "will", "intend", "plan", "anticipate", "believe",
"estimate", "expect" or similar expressions. Forward-looking
statements in this press release include statements concerning: the
expiry date and applicable hold periods for the Options, RSUs and
underlying Shares; expectations for commercialization of the
Company's business; and the future business plans of the Company.
Such statements are subject to risks and uncertainties that may
cause actual results, performance or developments to differ
materially from those contained in the statements, including: risks
related to factors beyond the control of the Company; inability of
the Company to execute on its business plans; the Company may
require additional financing which may not be obtainable or on
favourable terms; economic uncertainty; and the risks and
uncertainties which are more fully described under the heading
"Risk Factors" in the Company's annual and quarterly management's
discussion and analysis and other filings with the Canadian
securities regulatory authorities under the Company's profile on
SEDAR+. No assurance can be given that any of the events
anticipated by the forward-looking statements will occur or, if
they do occur, what benefits the Company will obtain from them. The
Company does not undertake any obligation to update such
forward–looking information whether because of new information,
future events or otherwise, except as expressly required by
applicable law.
Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
statements prove incorrect, actual results may vary materially from
those described herein as intended, planned, anticipated, believed,
estimated or expected. Although the Company has attempted to
identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended and
such changes could be material. The Company does not intend, and do
not assume any obligation, to update the forward-looking statements
except as otherwise required by applicable law.
SOURCE Northstar Clean Technologies Inc.
