Northstar Signs Letter of Intent for Long-Term Lease for Planned Facility in Hamilton, Ontario

VANCOUVER, B.C And CALGARY, AB, December 2, 2024 /PRNewswire/ – Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) (“Northstar” or the “Company”) is pleased to announce that it has signed a non-binding letter of intent (the “LOI”). with Great Lakes Port Management Inc. (“GLPM”), a subsidiary of the Hamilton-Oshawa Port Authority (“HOPA”), for a long-term lease for a commercial property in Hamilton, Ont (the “Property”) as the location for the Company’s proposed facility in the Southwest Ontario (the “Empower Hamilton Facility”).

The LOI has an initial term of 15 years with three extension options of five years each. The commercial terms are based on GLPM Northstar providing a suitable operational building in addition to a 4 hectare site.

Mister. Aidan MillsPresident, CEO and Director of Northstar stated: “We are pleased to make our first public announcement regarding our expansion in Ontario. The future location of the Empower Hamilton Facility with our long-time landlord HOPA is an ideal location for our first commercial facility in Ontario and we look forward to making a meaningful difference in the South Ontario landfills by diverting 40,000 to 80,000 tons of asphalt shingle waste per year. It has been a true pleasure working with HOPA to secure this location and we look forward to building a long-term partnership that will be mutually beneficial for many years to come.”

“HOPA is proud to enable this innovation in the circular economy Southern Ontario Housing and construction sector,” said Ian HamiltonPresident and CEO, HOPA Ports. “This new facility will be constructed on repurposed industrial land and supported by HOPA’s extensive multi-modal transportation facilities.”

Mr. Mills added, “While our primary focus remains completing construction at the Empower Calgary facility, we are pleased to have completed our business development initiatives in the South.” Ontario. Having secured a site, we can now begin applying for permits and government grants in early 2025 and enter into advanced negotiations for raw material and offtake agreements for the future Empower Hamilton facility.”

The company has selected the HOPA location Hamilton, ON for the following reasons:

• Strong partner (HOPA) with a significant track record of supporting innovative investment opportunities
• Immediate proximity to important industrial partners
• Affordable industrial property option with easy access to ports and rail via Hamilton Container Terminals (“HCT”)
• Significant supply of raw materials from Hamilton (approx. 785,000 inhabitants).⁽⁽¹⁾⁾) and more than 7 million in the Greater Toronto Area (“GTA”)⁽⁽²⁾⁾what is Canada largest metropolitan region by population and the 7th^Th largest metropolitan region in North America ⁽³⁾

Investor webinar
The Company will host a virtual investor webcast today to discuss its third quarter 2024 results and provide a business update to the investment community. Monday, December 2, 2024 at 2:00 p.m. PDT / 5:00 p.m. EDT. See details below.

Theme: Northstar Clean Technologies Third Quarter Financial Results Webcast
Date: Monday, December 2, 2024
Time: 2:00 p.m. PDT / 5:00 p.m. EDT
Registration: https://us06web.zoom.us/webinar/register/9317315268247/WN_htnUetiTQGeulGFcjrV9mg

Approximately two hours after the end of the question and answer session, an archived version of the webcast will be available at the webcast URL above.

About the Hamilton-Oshawa Port Authority
As an integrated port network, that is HamiltonOshawa Port Authority (HOPA) Ports offers innovative port and marine facilities in HamiltonNiagara and Oshawa, Ontario, Canada. We are evolving multimodal Spaces to support industry and facilitate trade. By investing in infrastructure and prioritizing sustainability, we are building thriving, functioning waterfronts Ontario communities.

For more information about HOPA, visit https://www.hopaports.ca/.

About Northstar
Northstar Clean Technologies Inc. is a Canadian clean technology company focused on the sustainable recovery and remanufacturing of asphalt shingles. Northstar has developed a proprietary design process to take discarded asphalt shingles that would otherwise be destined for already overfilled landfills and extract the liquid asphalt for use in new hot asphalt, shingle manufacturing and asphalt flat roofing systems, as well as aggregates and fibers for use in Building products and other industrial applications. Focusing on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its three main components for reuse/resale at its first commercial scale-up facility in Calgary, Alberta. As an emerging innovator in sustainable processing, Northstar’s mission is to be a leader in asphalt shingle recovery and remanufacturing North AmericaThe recovered components are extracted from asphalt shingles that would otherwise end up in landfills.

For more information about Northstar, visit www.northstarcleantech.com.

On behalf of the board,
Aidan Mills
President & CEO, Director

Cautionary Statement Regarding Forward-Looking Information

Neither the 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. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

This press release may contain forward-looking information within the meaning of applicable securities laws, which forward-looking information reflects the Company’s current expectations regarding future events. Forward-looking statements are often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate.” “expect” or similar expressions. Forward-looking statements in this press release include statements regarding: (i) the expected execution of a definitive lease with HOPA; (ii) the anticipated development and construction of the Empower Hamilton facility and, in connection therewith, its estimated ability to divert 40,000 to 80,000 tons of asphalt shingles per year from Hamilton area landfills; and (iii) Northstar’s ability to become a leader in the recovery and recycling of asphalt shingles North America. Such statements are subject to risks and uncertainties that could cause actual results, performance or developments to differ materially from those contained in the statements, including: risks associated with factors beyond the Company’s control; inability of the Company to implement its business plans; The Company may require additional financing, which may not be available or may not be available on favorable terms. economic uncertainty; and the risks and uncertainties more fully described under the heading “Risk Factors” in the Company’s annual and quarterly management discussion and analysis and other filings with Canadian securities regulators in the Company’s profile on SEDAR+. There can be no assurance that the events anticipated in the forward-looking statements will occur or, if they occur, what benefits the Company will derive from them. The Company undertakes no obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from those intended, planned, anticipated, believed, estimated or anticipated as described herein. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as expected, estimated or intended, and such Changes could be significant. The Company does not intend and undertakes no obligation to update any forward-looking statements, except as otherwise required by applicable law.

SOURCE Northstar Clean Technologies Inc.

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