EnviroLeach Commences Civil Action to Protect its Intellectual PropertyJune 22, 2021 at 08:30 AM EDT
VANCOUVER, BC / ACCESSWIRE / June 22, 2021 / EnviroLeach Technologies Inc. (the "Company "or "EnviroLeach"), (CSE:ETI) (OTCQB:EVLLF) (7N2:FSE) announces that, in order to protect its intellectual property, it has commenced a civil action against Mineworx Technologies Ltd. and related parties (collectively, the "Mineworx Defendants"), in the Supreme Court of British Columbia. The Notice of Civil Claim against the Mineworx Defendants includes, among other things, the following allegations:
EnviroLeach has invested over $30 million and 4 years in research and development of EnviroLeach's proprietary, environmentally friendly processing technologies for the recovery of precious metals, including methods for the extraction of platinum and palladium metals from recycled automotive catalytic converters (spent catalysts) using EnviroLeach's hydrometallurgical technologies. The Mineworx Defendants are now purporting to be competing with EnviroLeach in the recovery of PGM's from spent catalysts using a chemical formula and process based on EnviroLeach's IP and patents without a license to do so from EnviroLeach. These actions by the Mineworx Defendants are in breach of the Access Agreements, confidentiality agreements as well as the Asset Purchase Agreement between Mineworx and EnviroLeach dated December 19, 2016. The Company is seeking, among other relief from the Court, general, aggravated, and punitive damages against the Mineworx Defendants and an injunction prohibiting the Mineworx Defendants from using any confidential information or intellectual property belonging to EnviroLeach and to cease making any further misstatements relating to EnviroLeach or confidential information or intellectual property belonging to EnviroLeach. About EnviroLeach Technologies Inc. EnviroLeach Technologies is engaged in the development and commercialization of environmentally-friendly formulas and technologies for the treatment of materials in the primary and secondary metals sectors. Using its proprietary non-cyanide, water-based, neutral pH treatment process EnviroLeach extracts precious metals from ores, concentrates, and E-Waste. Backed by the momentum of a first-class staff of scientists and engineers, tens of thousands of individual tests and assays, independent validations, strategic partners and tens of thousands of hours in research and development, EnviroLeach's technology is emerging as a potential new standard for the provision of eco-friendly methods for the hydrometallurgical extraction of precious metals in both the mining and E-Waste sectors. Further information is available on the EnviroLeach web site: https://EnviroLeach.com Forward-Looking Statements This News Release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and the United States securities legislation. Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates," "believes," "may," "continues," "estimates," "expects," and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking information may include, but is not limited to, information with respect to our Research and Development activities, the accuracy of our capital and operating cost estimates; production and processing estimates; the results, the adequacy of EnviroLeach's financial resources and timing of development of ongoing research and development projects, costs and timing of future revenues or profits and adequacy of financial resources. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends", "targets" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning future revenue or earnings estimates may also be deemed to constitute forward-looking information. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information. Forward-looking information is based on the expectations and opinions of EnviroLeach's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information. The CSE has not approved or disapproved of the information contained herein. Contact Information: Jason Leikam SOURCE: EnviroLeach Technologies Inc. View source version on accesswire.com: https://www.accesswire.com/652625/EnviroLeach-Commences-Civil-Action-to-Protect-its-Intellectual-Property More NewsView More
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