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The City of Elliot Lake and Pele Mountain Sign Sustainable Energy Development Agreement

Publié le 19 septembre 2016

 
The City of Elliot Lake and Pele Mountain Sign Sustainable Energy Development Agreement

September 19, 2016 � Toronto � Pele Mountain Resources Inc.. (TSX VENTURE: GEM) (OTCQX: GOLDF) (�Pele� or the �Company�) announced today that it has signed a Sustainable Energy Development Agreement (the �Agreement�) with the City of Elliot Lake, Ontario (the �City�).
 
Under the terms of the Agreement, the Elliot Lake City Council has appointed Pele, on an exclusive basis, to be the developer of energy and energy storage projects on City Lands until May 1, 2018.
 
The Agreement sets out a framework for Pele and the City to negotiate and enter into mutually beneficial long-term energy services agreements to increase the City�s energy efficiency and to facilitate growth and diversification of the City�s economy. Initial projects will focus on the City�s electricity usage and cost reduction at its own facilities.  
 
 
To view today's press release click here

About Pele

Pele Mountain Resources is focused on the sustainable development of power generation, energy storage and mineral processing in Northern Ontario.

Pele�s Eco Ridge project has unique characteristics that make it an attractive development site, including excellent regional infrastructure, strong local support, and its strategic location in Elliot Lake, Canada's only historic rare earth mining and processing camp. Pele remains committed to advancing Eco Ridge as host to Canada's first rare earth processing centre and its extensive NI 43-101 mineral resources continue to provide exposure and leverage to rare earths and uranium.

The protracted downturn in the rare earth and uranium markets has prompted Pele to expand its business model to include electricity generation and energy storage projects, beginning in Elliot Lake.  Pele sees considerable opportunity in this rapidly growing sector and is working with leading energy industry professionals and suppliers of advanced technologies to provide a range of customized benefits to municipal and industrial electricity consumers in Northern Ontario.

 
 
Pele Mountain Resources Inc.
Al Shefsky, President
(800) 315-7353
www.pelemountain.com

 

 
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