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(TheNewswire)
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Montréal, September 2, 2026 TheNewswire St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) announces that its wholly owned subsidiary, EVSX Corp., has been served with an application commenced in the Ontario Superior Court of Justice by a group of investors seeking, among other things, the appointment of a receiver over the assets and undertaking of EVSX. The proceeding is scheduled to be heard on September 10, 2026.
The Company and EVSX are currently reviewing the materials with legal counsel and intend to vigorously oppose the relief sought. The Company believes that a court-appointed receivership is neither necessary nor in the best interests of EVSX, its stakeholders, customers, employees, creditors, or shareholders.
While the Company does not intend to litigate the merits of the application through a news release, it notes that many of the allegations contained in the application remain unproven and are disputed. The Company intend to place its evidence before the Court at the appropriate time.
The Company further advises that EVSX's ongoing restructuring and financing initiatives continue to advance. Management has been actively engaged in efforts to strengthen EVSX's capital structure, reduce liabilities, preserve key operating assets and support the continued ramp-up of its battery-processing operations. The Company remains confident that these initiatives offer a better path forward for stakeholders than the appointment of a receiver.
EVSX remains a strategically important asset within the Company's battery recycling and critical minerals platform. Management continues to evaluate financing, strategic partnership and operational alternatives designed to maximize long-term value.
The Company will continue to comply with its continuous disclosure obligations and will provide further updates as developments warrant.
ON BEHALF OF THE BOARD OF DIRECTORS
"Mark Billings"
MARK BILLINGS
Director of St-Georges, Interim President & CEO of EVSX Corp.
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies and holds a diversified portfolio of assets and patent-pending Intellectual Property within several highly prospective subsidiaries, including: EVSX, a battery processing initiative; St-Georges Metallurgy, with metallurgical R&D and related IP, including processing and recovering high grade lithium from spodumene; Iceland Resources, with high grade gold exploration projects including the Thor Project; 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 on Quebec's North-Shore, and Notre-Dame niobium Project in Lac St-Jean.
Forward Looking Statements:
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the updates regarding EVSX Corp. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. Additional risk factors can also be found in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
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