Vancouver, British Columbia, Canadian Zeolite Corp. (the “Company”) (TSX.V: CNZ) is pleased to announce it is now shipping its zeolite from the mill in Kamloops, BC to end user customers. The Company is in negotiations with a growing list of customers and we are very happy with the initial response.
Canadian Zeolite is working closely with our operator to assure size consistency and quality control while we commercialize our zeolite into the global marketplace. Mr. Paquette CEO states “having specifically sized zeolite ready for various customer uses marks another significant milestone in moving Canadian Zeolite forward. The Company now has the ability to fill existing orders and formalize long-term contracts from customers both Nationally and Internationally. Having the capability to supply these waiting customers is key to Canadian Zeolite’s success. Beginning to realize cash flow is a major achievement for the Company and its shareholders.”
Canadian Zeolite is also commencing the process of securing an OTCQB® listing to facilitate trading of the Company’s shares by U.S. investors. The OTCQB® Venture Marketplace is for entrepreneurial and development stage U.S. and international companies. To qualify for the listing, companies must be current in their reporting and undergo an annual verification and management certification process. These standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. “Trading on the OTCQB will expand the Company’s presence amongst investors in the United States and is aligned with our strategy to introduce the company to a broader range of institutional and retail investors,” stated Ray Paquette CEO. Canadian Zeolite is currently DTC eligible. The Depository Trust Company (DTC) is one of the world’s largest securities depositories. The Depository Trust Company, founded in 1973 and based in New York City, is organized as a limited purpose trust company and provides safekeeping through electronic record-keeping of securities balances.
Canadian Zeolite’s 30.8-hectare mining lease No. 380,929 lies within the 1,145-hectare Bromley Creek property. The company’s quarry permit, Q-15-012, allows the annual extraction of 50,000 tonnes of zeolite, and the quarry can be increased as required.
R. Tim Henneberry, PGeo, Canadian Zeolite’s qualified person, has reviewed and approved the scientific and technical information contained in this press release.
The company is not basing its production decision on a feasibility study of mineral reserves demonstrating the economic and technical viability. As a result, there is increased uncertainty and economic and technical risk of failure associated with the production decision.
On behalf of the Board of Directors
President & CEO
Neither 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.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Canadian Zeolite does not assume the obligation to update any forward-looking statement.