Magnetic North announces purchase agreement with Intergild
August 26, 2020
CALGARY, Alberta and TORONTO, Aug. 26, 2020 (GLOBE NEWSWIRE) -- Magnetic North Acquisition Corp. (TSXV: MNC) (“Magnetic North” or the “Company”) is pleased to announce it has entered into a purchase agreement (the “Agreement”) with Intergild Advanced Recycling Technologies (“Intergild”) to acquire all of the issued and outstanding shares of Intergild (the “Transaction”).
Magnetic North announces commercial recycling operations for CXTL
July 14, 2020
CALGARY, Alberta and TORONTO, July 14, 2020 (GLOBE NEWSWIRE) -- Magnetic North Acquisition Corp. (TSXV: MNC) (“Magnetic North” or the “Company”), along with Cirque Innovations Ltd. (“Cirque”), is pleased to launch commercial operations for CXTL Recycling Canada Corp. (“CXTL”). CXTL will use Cirque’s recycling technology to break down plastics into saleable products, leaving virtually no waste behind.
People around the world are coming together to demand change in the way we make and use plastics. Millions of dollars are being invested in cleaning up our oceans, rivers and beaches in an effort to turn the tide on plastic pollution. These efforts are vital, but will be for nothing if ever more plastic continues to be allowed to escape into our environment — or indeed be landfilled or burned. We need to tackle the issue at source, and this is what the Global Commitment aims to do.
With an increase in global production and consumption of plastics, and less than 20 percent of plastics recycled globally, plastic waste is increasing – and mismanaged. The impacts of plastic production, use and disposal on the environment and people create risks and opportunities for investors through different sectors and companies which are part of the plastic value chain. This report highlights the global challenge for plastics, as well as some potential solutions.