Certarus Ltd. Announces Execution of a Long Term Natural Gas Supply Agreement With Lake Shore Gold Corp
TORONTO, Oct. 07, 2020 (GLOBE NEWSWIRE) — Certarus Ltd. (“Certarus” or the “Corporation”) is pleased to announce that it has entered into a long term compressed natural gas (CNG) supply agreement with Lake Shore Gold Corp (“Lake Shore”), a subsidiary of Pan American Silver, to service the heating requirements of its Bell Creek and Timmins West mines in Northern Ontario.
This agreement is another milestone for Certarus in its commitment to provide bulk CNG service across Northern Ontario. By displacing more carbon-intensive fuels with natural gas, Certarus’ CNG platform provides a safe and reliable supply of clean, cost effective energy to its customers.“Lake Shore is a leader in its industry and recognized the environmental and economic benefits of converting their heating operations from propane to natural gas. Certarus is able to provide service to large fuel users across Northern Ontario through our fully operational facilities in Timmins and Red Rock. By partnering with Certarus, mining operators, asphalt companies, other industrial users and even remote communities can meaningfully reduce their carbon emissions and at the same time lower their costs,” said Stéphane Gallant, Certarus’ Manager of Business Development in the region.Hillary Laughren, Procurement Manager at Lake Shore Gold Corp commented: “Certarus provided a turnkey solution from mine conversion to CNG delivery. We are extremely pleased to be able to reduce our carbon footprint and decrease our fuel management costs.”Certarus expects to commence CNG supply to these mines in Q4 2020.ABOUT CERTARUSCertarus is the North American market leader in providing low carbon energy solutions through a fully integrated compressed natural gas (CNG) solution. Our primary business is the creation of a virtual natural gas pipeline through the compression, transportation and integration of CNG for the energy, mining, utility, forestry and industrial sectors. Our solutions target diesel and propane fuel displacement projects to lower operating costs and improve environmental outcomes.Certarus had previously announced a strategic alliance and commercial investment by Union Energy Solutions Ltd., a wholly owned subsidiary of Enbridge Inc., collectively (“Enbridge”) into Certarus’ compressed natural gas (CNG) infrastructure platform to service Ontario.For more information, please visit www.certarus.comFor more information please contact:Daniel Bertram
Vice President – Corporate Development
[email protected]FORWARD-LOOKING STATEMENTSCertain information contained in this document constitutes forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation’s control including the impact of general economic conditions, the impacts of the COVID-19 pandemic, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, competition from other industry participants, the lack of availability of qualified service providers, personnel or management and ability to access sufficient capital from internal and external sources, the inability to obtain required consents, permits or approvals and the risk that actual results will vary from the results forecasted and such variations may be material. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation’s actual results, performance or achievement could differ materially from those expressed in or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Corporation will derive therefrom.The forward-looking statements contained in this document are made as of the date hereof. Certarus disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Additionally, Certarus undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.