08:16 AM EST, 12/24/2024 (MT Newswires) -- St-Georges Eco-Mining ( SXOOF ) said on Tuesday that its subsidiary EVSX completed the installation of its multi-chemistry waste battery processing line in the Thorold, Ontario facility.

The company said the EVSX battery processing line is now moving to final testing prior to full commissioning. With an annual capacity of 10,000 tonnes, the line can process virtually any type of battery and was previously fully commissioned for testing under the supervision of WSP Group before shipping to Canada.

The company said it also filed an additional Environmental Compliance Approval (ECA) submission, which will permit the processing of a wider range of battery chemistries, adapting to the line's capability. The Ministry of the Environment, Conservation and Parks approved the submission for Priority Review.

"EVSX holds an existing ECA which permits us to sort and process various battery chemistries under our battery supply agreement, so it's important to note that the new ECA submission to expand battery chemistries will not impact operational startup expected in January 2025." CEO Ian Peres said.

EVSX also said it has secured a convertible debenture financing of $356,000.

The company's share price gained 10% on Monday to $0.055 on the CSE.