Geomega Resources (TSX-V: GMA) has announced today that while the company’s operations are still on going with Hatch, an engineering firm assisting GMA for its rare earth demonstration plant, Geomega has begun retrofitting its rare earth pilot plant in the National Research Council (NRC) facility located in Boucherville Quebec for the production of hand sanitizer. GMA has temporarily repurposed the Boucherville facility for the production of hand sanitizer under the formulation guidelines recommended by the World Health Organization. GMA has already received a natural product number (NPN) from Health Canada, a necessary step any company needs in order to sell a product to consumers. An NPN is issued once Health Canada has determined that the product is safe and meets its criteria, deeming the product is safe, effective and of high quality.
GMA’s President Kiril Mugerman was quoted “Geomega’s chemical processing team has proven once again its skill to utilize its expertise with evolving market conditions. I am proud of our team that shows flexibility, motivation and creativity, especially during a difficult situation like we see globally today. Geomega can assure its shareholders that these modifications to the pilot plant will in no way impede the progress of building the much larger demonstration plant located in nearby St. Bruno, Quebec”.
Although the pilot plant is being temporarily retrofitted to meet production demand of hand sanitizers, these changes will not affect the overall trajectory of the company’s operations, but rather be complimentary as the company will be able to generate revenues in the immediate term. GMA will be directing its sales channels for its new hand sanitizer product that is approved by Health Canada to sectors much in need which includes retirement homes and hospitals in the Montréal area. It is not currently known as to how much product will be produced at the NRC pilot plant in Boucherville, Quebec, however it must be of significant size if GMA intends to service retirement homes and hospitals with hand sanitizers in the Montréal area.
In addition to GMA’s announcement, Geomega pledges to donate 20% of its total production of hand sanitizers to local long-term care homes and other charitable organizations who are on the front lines and who have been greatly affected by the current outbreak of Covid-19.
With an established facility ready for production and a planned sales channel to include nursing homes and hospitals in Québec, we believe GMA will continue to communicate these significant developments in the near term and further announcements regarding distribution and potential sales may prove to be an important catalyst for investors.
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