Northstar (TSXV: ROOF) (OTCQB: ROOOF) Announces Five-Year Off-Take Agreement with McAsphalt Industries Ltd.

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  • Northstar Clean Technologies announced today that it will sell, on an exclusive basis, 100% of its liquid asphalt production from its Calgary scale-up facility to McAsphalt Industries Ltd.
  • The two companies have signed a binding term sheet for a five-year off-take agreement
  • Together, Northstar and McAsphalt will work on developing another life-cycle assessment for Northstar’s proprietary clean technology, advancing a protocol to create carbon credits, and planning with respect to the Empower Calgary Facility
  • Shares in Northstar Clean Technologies are trading at CA$0.25 per share on the TSXV (up 31.58%) and US$0.183 per share on the OTCQB (up 30.71%)

Northstar Clean Technologies announced today that it will sell, on an exclusive basis, 100% of its liquid asphalt production from its Calgary scale-up facility to McAsphalt Industries Ltd.

McAsphalt, a wholly owned subsidiary of Colas Canada, has been the industry’s top asphalt expert for over 50 years, offering asphalt products and services from over 27 strategically located terminals across Canada, coast to coast to coast.

The two companies have signed a binding term sheet for a five-year off-take agreement with automatic three-year renewal options.

“This term sheet is a pivotal agreement and a major milestone for Northstar,” said Northstar’s President & CEO Aidan Mills. “With McAsphalt we have a valuable off-take partner that has the strength, capability, resources and operational expertise to help move our business forward.”

The agreed terms of the sale price of the liquid asphalt is confidential due to commercial sensitivity reasons, says the Company, but the pricing is market based and includes the market index, a quality and locational differential, and a sustainability premium.

“We at McAsphalt were very excited the moment we were contacted by Northstar and feel fortunate that we were given the opportunity to work with them on an offtake agreement,” said Ron Vertz, Canadian President of McAsphalt.

Together, Northstar and McAsphalt will work on developing another life-cycle assessment for Northstar’s proprietary clean technology, advancing a protocol to create carbon credits, and planning with respect to the Empower Calgary Facility.

“We believed we had an innovative low carbon asphalt before we met Northstar,” added Mr. Vertz, “but what we have found is that by incorporating their asphalt into our formulations, we can achieve an even lower CO2 emission from our operations.”

Northstar Clean Technologies Inc. is a Vancouver-based clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles.

Shares in Northstar Clean Technologies (ROOF) are trading at CA$0.25 per share on the TSXV, up 31.58% as of 3:11 pm EST. On the OTCQB, ROOOF is trading at US$0.183 per share, up 30.71% on the day.

To learn more about Northstar Clean Technologies and its innovative processes, visit the Company’s website. To read the full press release, click here.

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