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.

Contacts:
Sylvain Boulanger, P.Eng.
President & CEO
(514) 506-9121
Info@pro-or.com

Nicole Blanchard, Managing Partner
Sun International Communications
(450) 973-6600
nicole.blanchard@isuncomm.com

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
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, introduced the technologies required for implementing these idea...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, represent...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
FinTech is the sum of financial and technology, and it’s one of the fastest growing tech industries. Total global investments in FinTech almost reached $50 billion last year, but there is still a great deal of confusion over what it is and what it means – especially as it applies to retirement. Building financial startups is not simple, but with the right team, technology and an innovative approach it can be an extremely interesting domain to disrupt. FinTech heralds a financial revolution that...
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...