Welcome!

News Feed Item

Pro-Or Announces a Change of Name, a Change of Business and the New Board of Directors

MONTREAL, QUEBEC -- (Marketwired) -- 01/07/14 -- NovX21 Inc. (the "Corporation") (TSX VENTURE: POI) is pleased to announce that following its annual and special meeting of shareholders of the Corporation held on December 30th, 2013; Pro-Or changed its name to "NovX21" reflecting the approved change of business by shareholders from solely a "mining issuer" to both a "mining issuer" and a "technology issuer". Mr. Andre Boulanger, Me Rene Branchaud, Mr. John LeBoutillier and Mr. Jean-Paul Schaack were nominated as directors of the Corporation. Mr. John LeBoutillier has been appointed Chairman of the Board of the Corporation.

Trading on the TSX Venture Exchange under the new symbol "NOV" will start in the coming weeks.

Description of Change of Name


--  NOV stands for technological inNOVation

--  X symbolizes the eXtraction of metals from different sources

--  21 is for an inNOVative technology of the 21st century
    --  Low energy, low cost, high recovery process

Description of Change of Business

The Corporation (i) completed a Change of Business of the Corporation from solely a "mining issuer" to both a "mining issuer" and a "technology issuer" in accordance with the applicable policies of the Exchange and (ii) changed its name to "NovX21 Inc." in order to reflect the proposed Change of Business.

Pursuant to the proposed Change of Business, the Corporation will develop and implement new industrial patented technologies, including the patented processes, to recover metal from recycled material or ore. More particularly, the Corporation will recycle precious metals from used catalytic converters, thus allowing the transportation industry, mostly automobile manufacturers, to purchase the recycled refined metals to coat new catalytic converters, thus changing the business of the Corporation.

The Change of Business, and certain ancillary matters were approved by shareholders of the Corporation at the annual and special meeting of shareholders of the Corporation held on December 30, 2013 (the "Meeting").

Matters Considered at the Meeting

At the Meeting, shareholder approval was obtained (i) for the Name Change, (ii) for an amendment to the articles of incorporation of the Corporation, (iii) for the New General By-Laws and (iv) for amendments to the stock option plan of the Corporation.

Board Appointments

Mr. Sylvain Boulanger and Mr. Yves Lasnier have been re-elected as Directors of the Corporation at the Meeting and Mr. Andre Boulanger, Me Rene Branchaud, Mr. John LeBoutillier and Mr. Jean-Paul Schaack have been elected as directors of the Corporation. Therefore, the board of directors of the Corporation now consists of six directors.

John LeBoutillier, Member of the Order of Canada, has been appointed as Chairman of the Board of NovX21. He is currently Chairman of the Board of Industrial Alliance Insurance and Financial Services Inc. and of Groupe Deschenes Inc., Vice Chairman of TechnoCentre eolien (Gaspesie-Iles-de-la-Madeleine) and a board member of a number of public issuers, such as Mazarin Inc., SEMAFO Inc. and Stornoway Diamond Corporation.

Mr. LeBoutillier was President and Chief Executive Officer of Iron Ore Company of Canada from 1996 to 2000 and President and Chief Executive Officer of Sidbec-Dosco (Ispat) Inc. (currently known as ArcelorMittal Montreal) from 1983 to 1996. He was also a member or board member, as applicable, of many industrial associations at Canadian and international levels, namely the Quebec's Health Review (The Clair Commission) in 2000 and the Canadian Democracy and Corporate Accountability Commission in 2001. Mr. LeBoutillier has a law degree from the Universite Laval in Quebec City and an MBA from University of Western Ontario (currently known as the Richard Ivey School ofBusiness).

Andre Boulanger, MESc, is currently President of Hydro-Quebec TransEnergie, where he manages an electrical network in North America. He was also President of Hydro-Quebec, Distribution Quebec, from 2003 to 2011, where he was responsible for the reliability of the electrical network, its distribution and supply and demand planning for 3.9 million consumers. Prior to such functions, Mr. A. Boulanger was a senior executive at Gaz Metro Inc. from 1983 to 2003. He has been a member of the Institute of Corporate Directors since 2010 and is a board member of Northeast Power Coordination Council Inc. (New York) and Chairman of the board of Cedars Rapids Ltd., as well as board member of the Cancer Institute of Montreal and other economic development and cultural organizations. Mr. Boulanger studied at a doctorate level at the Georgia Institute of Technology (Atlanta, U.S.) and has bachelor's and master's degrees in mechanical engineering from the Universite Laval in Quebec City.

Rene Branchaud holds an LLB from Universite Laval obtained in 1982. He has been a lawyer since 1983 and is a partner of the law firm Lavery, de Billy, L.L.P. He practices in the areas of securities law, mergers and acquisitions and corporate law. Mr. Branchaud serves on the board of directors and is corporate secretary of several public companies. He also serves on several committees of the board of directors, including corporate governance committees and ad hoc committees created for specific transactions (mergers, takeovers). In addition, he advises directors who sit on ad hoc committees.

Jean-Paul Schaack, an MBA retiree since 2007, spent most of his career from 1982 to 2007 in the steel industry with ArcelorMittal Canada or its predecessor companies. As Director of Strategic Planning of that company, he was instrumental in the creation of four joint venture subsidiaries of which he also became a director. Later, as Vice President, he was responsible for the Purchasing and Environment division, where his focus was principally on the efficient purchase and optimal usage of raw materials and energy, during which time he was involved in several due diligence studies and acquisitions. He also sat on the board of industrial associations of energy intensive companies. Prior to joining the steel industry, Jean-Paul Schaack was a consultant for SNC-Lavalin Group Inc., where he participated in numerous feasibility studies on industrial and power projects in Canada and overseas. He obtained his engineering degree from the Ecole des Mines de Paris (France) and a master's degree in management sciences from the University of Waterloo (Ontario).

For further information, reference should be made to the management information circular of the Corporation dated December 2, 2013, a copy of which is available under the Corporation's profile on SEDAR at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About NovX21

NovX21 operates an industrial prototype plant for the recovery of Platinum Group Elements (Platinum, Palladium and Rhodium or PGMs). The plant is located near Quebec City in St-Augustin-de-Desmaures. Its patented process yields more than 97% recoveries of PGMs, and is not only much less capital extensive but also operates much more rapidly than conventional plants thus dramatically lowering the amount of time that its customers capital is tied up as work-in-process inventory. NovX21's mission is to sustainably recover precious metals by the recycling of end-of-life PGM containing components while meeting global "green" standards for the automobile industry.

NovX21 also holds the mineral rights to six mining properties and has focused its exploration activities on the Menarik property in the James Bay area, in the Province of Quebec, the site of a major chromite deposit with occurrences of gold, nickel, copper and platinum group metals (PGMs). The operation of NovX21's patented and proprietary processes to such deposits may lead to a breakthrough in low cost primary mining metallurgy in the near future.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said “No to LUNs.” With Tintri they mana...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments. In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera M...
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...