GUELPH, ON, March 3 /CNW/ - ENPAR Technologies Inc. (TSX-V: ENP) ("ENPAR") is pleased to announce that the ExtrEL Technology License Agreement with Dundarave Resources Inc. (TSX-V: DDX) ("Dundarave") has proceeded to the Optimization and Design Phase upon receipt of the second instalment of $150,000 for a total of $200,000 and 1,300,000 common shares of Dundarave.
This phase will focus on the scale-up design and operation of the reactor, and circuits for solid/liquid separation and recovery of acid, sulphur and metal. It should be completed within 6 months and form the basis for construction and operation of a $3,000,000 pilot plant, which will be constructed at Dundarave's expense.
ENPAR announces that 325,000 share options have been granted to two consultants and two employees. The options are exercisable at a price of $0.40 per share for periods ranging from two to five years. The grants are subject to acceptance by the TSX Venture Exchange.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
ENPAR is a "Technology Company" applying its patented and proprietary "Electrochemical Technologies" to the treatment of waste water and drinking water contaminated by metals or nutrients i.e., nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. The common shares trade on Tier II of the TSX Venture Exchange under the symbol "ENP".
This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause ENPAR Technologies Inc. results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof.