Fort McKay Métis Nation Joining Framework Agreement with CVW CleanTech and Four Other Indigenous Nations

November 4, 2024

CVW CleanTech is excited to bring on a new partner and broaden the opportunity for Indigenous peoples’ engagement in tailings management within the oil sands mining industry

Calgary, Alberta – Today, CVW CleanTech Inc. (TSX-V: CVW, OTCQX: CVWFF) (“CVW CleanTech” or the “Company”) announces that the Fort McKay Métis Nation has joined as partners in the Company’s non-binding framework agreement with four other First Nations and Métis Nations. This represents another step toward reconciliation by promoting meaningful partnerships and empowering Indigenous communities in the implementation and management of technologies such as CVW CleanTech’s tailings reprocessing technology which can positively impact the quality of life for communities in the Treaty 8 region.

Fort McKay Métis Nation joined as partners following the Athabasca Chipewyan First Nation, Fort Chipewyan Métis Nation, Fort McMurray 468 First Nation Economic Development Corporation, and McMurray Métis, who signed the landmark agreement earlier this year. The agreement creates a framework for the economic participation and governance rights as part of the implementation of CVW CleanTech’s proprietary technology, known as Creating Value from Waste™ (CVW™).

Focusing on reclamation, CVW CleanTech has developed an innovative technology that efficiently recovers valuable resources— bitumen, solvent, critical minerals, and water—from froth treatment tailings resulting from mining of the Athabasca oil sands.

Diverting froth treatment tailings from oil sands tailings ponds to CVW CleanTech’s specialized reprocessing facilities can yield significant environmental and economic benefits for local communities and the industry. The industry-wide implementation of CVW CleanTech’s ready-to-deploy technology could annually recover up to 13.2 million barrels of additional hydrocarbons and produce 1.5 million tonnes of titanium and zircon critical mineral concentrates. The Company is also in the process of developing a rare-earth element circuit to recover commercial grade monazite from oil sands tailings.

CVW CleanTech’s technology would also improve oil sands water management, making the land and water more habitable for the intertwined neighbouring Indigenous communities while driving forward sustainability of this important industry.

Through the framework agreement, the CVW™ technology can bring substantial economic benefits to Indigenous communities. The agreement sets the framework for the participating First Nations and Métis Nations to purchase at their option a minimum 20 percent interest in the joint venture to deploy hydrocarbon recovery, volatile organic compound (VOC) abatement, and methane abatement technologies. Similarly, the framework agreement provides participating Nations with the opportunity to purchase a minimum of a 40 percent interest to deploy CVW™ mineral recovery technologies.

In addition, the framework agreement provides the participating Nations with the opportunity to participate in equity financings undertaken by CVW CleanTech to finance the potential joint venture, as well as to participate in the governance of CVW CleanTech.

These investments aim to generate sustainable long-term cash flows for Indigenous communities, providing opportunities for true ownership and generational wealth creation. Joining the framework agreement allows the Fort McKay Métis Nation to significantly contribute to innovative technology that promotes positive environmental outcomes related to oil sands waste such as water and air quality affecting their community.

The matters contemplated by the framework agreement are non-binding and remain subject to execution of definitive agreements and receipt of applicable regulatory approvals, including that of the TSX Venture Exchange.

CVW CleanTech welcomes the participation of other Indigenous groups in the advancement of its proprietary technology and is currently engaged with other communities in the region.

– ENDS –

Quotes:

Akshay Dubey, CEO, CVW CleanTech –

“We are excited to have the Fort McKay Métis Nation join our partnership with Indigenous communities in the Treaty 8 region and unceded lands/territory of the Métis, and we appreciate their confidence in our technology. By reprocessing froth treatment tailings produced by mining oil sands, we can improve the air, land, and water management while generating economic benefits through the recovery of hydrocarbons and critical minerals. Our ready-to-deploy technology offers a sustainable alternative to tailings ponds with the ability to make a meaningful impact toward Indigenous self-determination.”

Loretta Waquan, President, Fort McKay Métis Nation –

“Finding meaningful solutions to address important matters of great concern to our community including treatment of water is critical to leaving a sustainable environmental legacy for our children. Economic reconciliation serves as an essential component of this working partnership with industry in achieving this vision. We look forward to a successful partnership with CVW CleanTech that establishes the collaborative way we should be doing business in this region with impacted communities on environmental issues.”

Justin Bourque, President and Founder of Âsokan Generational Developments –

“This additional signing marks a continuation of our groundbreaking agreement established earlier this year, representing an opportunity for Indigenous communities to have the self-determination to actively engage in technological advancements that promote social and economic benefits to their communities while enhancing environmental outcomes related to oil sands tailings. The addition of the Fort McKay Métis Nation represents significant progress towards our shared goal of responsible and sustainable development in the region.”

About CVW CleanTech Inc.

CVW CleanTech‘s vision is to invest in innovative technologies which provide returns linked to commodities and which operate in a sustainable manner that helps accelerate the world’s transition to net zero. CVW CleanTech is in the process of building a portfolio of royalty-based cash flow streams by partnering with clean technology innovators in the commodity space. CVW CleanTech is the 100% owner of its proprietary technology, Creating Value from Waste™, which is designed to recover bitumen, solvents, critical minerals, and water from oil sands froth treatment tailings, which would reduce tailings pond fugitive methane emissions, volatile organic compounds, and enhance tailings management.

About Âsokan Generational Developments

Âsokan in nêhiyawêwin (Cree) means “bridge” symbolizing its mission of building bridges to a sustainable and prosperous future for generations to come. Aiming to be the leading catalyst for sustainable Indigenous and industry partnerships, empowering Indigenous communities towards self-determination and driving positive change in society. The organization’s ultimate goal is to Empower Indigenous Lives today, with Tomorrow In Mind.

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Investor Inquiries
Joshua Grant
joshua.grant@cvwcleantech.com
403-460-8135

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