VANCOUVER, May 17, 2019 /CNW/ - Micron Waste Technologies Inc. ("Micron" or the "Company") (CSE: MWM, OTC: MICWF, Frankfurt: 7FM2), a leading developer of waste treatment systems for food and cannabis waste, has been awarded United States Patent and Trade Office (USPTO) intellectual property protection for its commercial organic waste digester unit. Micron's Application No.: 29/644,928 sought and won recognition for leading innovative technological features which enable the digester to efficiently process food and cannabis waste on a commercial scale. Micron's digester hardware is also protected by an Industrial Design Certificate of Registration from the Canadian Intellectual Property Office (CIPO).
The digester is integral to Micron's Organivore™ food waste processing system and Micron's Cannavore™ system, the first purpose-built green technology developed for the rapidly-growing cannabis industry.
"We are especially proud to have been awarded two US patents within the past six months – one for our innovative biotechnology formula for waste treatment - and now a second for our hardware," said Micron Chief Technology Officer Dr. Bob Bhushan. "Our innovations allow Micron to deliver solutions to process waste compliantly from several target sectors – food processing; cannabis cultivation; beer, wine and spirits; and other industries that generate organic waste."
The OrganivoreTM and CannavoreTM industrial-grade processing systems pulverize and render organic waste in combination with Micron's patented blend of microbes and enzymes. Importantly, as part of Micron's closed-loop waste treatment platform, effluent from the digester is further treated to derive contaminant-free greywater which can be re-used in industrial or agricultural operations. Active Pharmaceutical Ingredients (APIs) in cannabis waste are further biologically treated with Micron's proprietary formula to denature cannabinoid residues, mitigating potential discharge into the aquatic environment. Discharged water also meets municipal wastewater bylaws for effluent parameters such as Biochemical Oxygen Demand (BOD), Chemical Oxygen Demand (COD), Total Suspended Solids (TSS), and Fats/Oils/Grease (FOG).
Extension of Warrants
Micron will file documentation with the Canadian Securities Exchange (the "Exchange") to extend the expiry date of an aggregate of 10,018,200 common share purchase warrants issued pursuant to a non-brokered private placement in June, 2017 (the "Warrants"). Each Warrant is exercisable into one common share of the Company at a price of $0.50 per common share and are set to expire on June 1, 2019. The expiry date of the Warrants will be amended to June 1, 2022 with all other terms remaining the same.
About Micron Waste Technologies Inc.
Micron is a leading green technology and compliance company that manufactures organic waste treatment and water reclamation systems. Micron focuses on developing solutions for organic waste and specialized waste streams including cannabis cultivation waste. Micron's patented aerobic bio-process reduces waste management costs, mitigates greenhouse gas emissions, and produces clean water that meets municipal effluent discharge standards. The Company has a strategic partnership with Aurora Cannabis Inc (TSX:ACB), one of the world's leading cannabis companies. In addition, Micron is partnered with BC Research Inc, part of the NORAM Group of Companies, with extensive experience in large scale private and municipal wastewater treatment systems. Micron is a public company with listings on the CSE: MWM, OTC: MICWF, and in Frankfurt: 7FM2. Please visit www.micronwaste.com for further information.
President and CEO
The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS:
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
SOURCE Micron Waste Technologies Inc.
For further information: Karen Lauriston, VP Corporate, +1.905.691.1185, [email protected]