St-Georges Eco-Mining Settles Debenture Dispute with EVSX Holders
News related to:St-Georges Eco-Mining Corp · 1 min read
St-Georges Eco-Mining Corp. has reached a settlement agreement with its wholly-owned subsidiary, EVSX Corp., and its debenture holders. The agreement, which was announced on September 10, 2026, aims to resolve the receivership proceedings previously initiated against EVSX.
According to the terms of the settlement, the total agreed debt amount is $484,463. This amount will be repaid through a structured payment plan. The initial payment of $25,000 is due by September 11, 2026. A further $10,000 is required by September 18, 2026. Following these initial payments, subsequent instalments of $60,000 will be made every 15 days, starting on October 5, 2026, until the debt is fully satisfied.
In connection with the settlement, the receivership petition has been suspended, and the hearing previously set for September 10, 2026, has been adjourned. This resolution is expected to provide relief to both parties involved and to stabilize the ongoing operations of EVSX Corp.
Frank Dumas, Executive Chairman of St-Georges Eco-Mining Corp., expressed satisfaction with the outcome. "We are pleased to have reached this agreement with our debenture holders. This settlement will allow us to focus on our core business operations and future growth initiatives," he stated.
St-Georges Eco-Mining Corp. continues to develop new technologies and holds a diversified portfolio of assets and patent-pending Intellectual Property. Key subsidiaries include EVSX, a battery processing initiative; St-Georges Metallurgy, focusing on metallurgical R&D and related IP; Iceland Resources, with high-grade gold exploration projects; H2SX, developing technology to convert methane into solid carbon and turquoise hydrogen; and Quebec exploration projects including the Manicouagan and Julie nickel, copper, and PGE critical mineral projects, and the Notre-Dame niobium Project in Lac St-Jean.
This settlement agreement marks a significant milestone in the company's ongoing efforts to manage its financial obligations and ensure the smooth operation of its subsidiaries.