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Q3 2024 Highlights from Northstar Clean Technologies

Major Financial and Operational Developments

Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) has showcased significant advancement over the third quarter of 2024. Here are some pivotal developments that highlight the company’s growth and future prospects:

Royalty Transaction Completion

• Closed a $14.0 Million Royalty Transaction with CVW CleanTech Inc.
  Northstar successfully finalized a strategic royalty transaction valued at $14.0 million with CVW CleanTech Inc. (CVW). This achievement marks a significant step in the company’s growth journey, attracting attention in the cleantech sector globally and showcasing an impressive interest in Northstar’s innovative technology solutions.

Empower Calgary Facility Progress

• Construction and Development of the Empower Calgary Facility
  Work continues on the Empower Calgary Facility, which represents a major leap towards establishing Northstar’s operational capabilities. The company has made substantial strides in procurement processes, the arrival of vital equipment, and initial testing. The preparations for facility commissioning and operation are well underway, with ongoing efforts directed towards shingle collection, further solidifying the readiness for future operations.

Financing Draws

• Secured First Draw of $1.6 Million on Project Loan Facility with BDC
  During this quarter, Northstar successfully completed the first draw of approximately $1.6 million from the senior secured project loan facility provided by the Business Development Bank of Canada (BDC). This funding is crucial for the continued construction of the Empower Calgary Facility, demonstrating the lender’s confidence in Northstar’s business model and growth trajectory.

Intellectual Property Milestone

• Patent Approval from Canadian Intellectual Property Office (CIPO)
  Excitement surrounds the recent receipt of a patent from the Canadian Intellectual Property Office (CIPO). This patent covers Northstar’s proprietary front-end technology specifically designed for the reprocessing of asphalt shingles. Obtaining this patent marks a crucial advancement in protecting the company’s intellectual property and highlights the innovation within its operational processes.

Company Leadership’s Remarks

In a statement from Mr. Aidan Mills, President & CEO, he expressed, "The third quarter of 2024 was highlighted by the announcement and closing of our royalty funding transaction with CVW. This is a monumental funding transaction for the cleantech space globally and highlights the interest in our technology solution for municipalities across Canada and the United States. We were thrilled to close the transaction with Akshay and the team at CVW and are grateful for all the shareholder support received in the deal."

Furthermore, he added, "The construction of our Empower Calgary Facility is well advanced, showcasing the dedication and hard work of our team. We have delivered on numerous construction-related milestones throughout the third and fourth quarters. As we look towards 2025, we are ecstatic to soon bring online the world’s first-of-its-kind commercial facility."

Additional Insights from Q3 2024

Important Events Timeline

• July 2024
  Received patent for innovative process in reprocessing asphalt shingles from CIPO.

• August 2024
  Announced completion of the $14.0 million royalty transaction with CVW.

• September 2024
  Achieved the first draw of around $1.6 million from the BDC project loan.

• September 2024
  Successfully closed the royalty transaction with CVW. A replay of the investor update webinar is available here.

Updates Following Q3 2024

Developments in October and November 2024

• October 2024
  Released a comprehensive construction update on the Empower Calgary Facility, detailing significant progress. The update can be accessed here.

• November 2024
  Shared a second detailed construction update on the Empower Calgary Facility, available here.

• November 2024
  Completed the second draw of approximately $2.7 million from the senior secured project loan with BDC.

• November 2024
  Announced key senior management changes, aimed at enhancing operational efficiency and maintaining ongoing momentum for future success.

Navigating legal Complexities with AI legalese decoder

In light of Northstar’s recent financial and operational advancements, navigating the complex legal landscape that comes with funding transactions, patent filings, and corporate governance is crucial. This is where AI legalese decoder can play a vital role.

AI legalese decoder can assist Northstar and similar companies by simplifying complex legal jargon, ensuring stakeholders and decision-makers can easily understand legal documents. This enhanced understanding can lead to more informed decision-making, negotiating better terms in contracts, and facilitating smoother transactions. Moreover, the tool can help in monitoring compliance with legal regulations, thereby avoiding potential pitfalls that may arise from misunderstandings or oversight.

Conclusion

Northstar Clean Technologies continues to build momentum with substantial financial transactions, patent approvals, and progress on key facilities. As the company prepares to break new ground with its innovative solutions for asphalt shingle recovery, tools like AI legalese decoder will be integral in supporting its journey through the intricate regulatory and legal landscapes it faces.

For additional information on Northstar Clean Technologies and its ongoing projects, please visit www.northstarcleantech.com.

On Behalf of the Board of Directors,

Aidan Mills
President & CEO, Director

Neither the TSXV nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. The TSXV has neither approved nor disapproved the contents of this press release.

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