activity update

RENO, Nevada., September 21, 2022 /PRNewswire/ — Itronics Inc. (OTC: ITRO) announced today that it has entered into an agreement for the valuation of its Intellectual Property and is providing investors with an update on the Company’s current progress.

Itronics has entered into a Statement of Commitment to work with Fallingst Technologies LLC to develop a valuation of Itronics’ intellectual property (IP) assets to support a leveraged structured IP-backed non-dilutive financing transaction. Fallingst Technologies works in a strategic partnership with Genoa Capital Partners to enable the product development and sales generation needed by technology companies leveraging their intellectual property assets. Genoa Capital Partners has arranged the financing to enable this transaction for Itronics. Fallingst Technologies funding can range from $10 million To over $100 million.

“The work program is organized to include an assessment followed by a funding event,” said Dr. John Whitney, President of Itronics. “The valuation work is scheduled to start immediately and is expected to be completed before the end of the year. This will be followed by a funding event. Itronics’ business is based on the use of its proprietary technologies. The completion of this work will significantly increase the value of the Company”.

The following is a summary of the progress of the developments related to the Company:

  • The rising cost of energy is increasing the value of the Company’s portfolio of ‘Non-Waste Energy Saving Technologies’. A recently completed internal study concludes that the new Rock Kleen technology meets the requirements to qualify for greenhouse gas energy offset credits. Rock Kleen is a revolutionary and disruptive technology that recovers residual precious metals, ferrous and base metals, nutrient materials and industrial minerals from ‘sub-mineral grade’ mine tailings.
  • The benefit of this is that, following qualification by an independent third party, the Company can sell Energy Offset Credits. Offset credits are a transferable instrument certified by governments or independent certification bodies to represent a COtwo emissions reduction. “Rock Kleen projects could generate millions of dollars in energy offset credits for smaller projects, while the potential for long-term projects is in the hundreds of millions of dollars,” said Dr. Whitney.
  • After qualification, each Rock Kleen project the Company develops could sell Energy Offset Credits. The revenue generated from the sale of these credits would improve the economics of each project without any increase in project costs.
  • The Company now has four potential Rock Kleen projects under study for development. One project is for the processing of iron-rich mine tailings and iron-rich copper mine tailings that were produced without the use of cyanide. One project is for the processing of cyanide heap leach tailings from the silver mine. One project is for the processing of cyanide heap leach tailings from gold mines and one project is for the processing of cyanide mill tailings from gold mines. These are expected to be multi-year projects ranging from 10 to 50+ year project life.
  • The company now believes that its spent PCB refining technology and GOLD’n GRO fertilizer line may qualify to generate energy offset credits. Energy savings in refining were measured when the new furnace technology was being developed. Energy savings were found to be 40 percent and the Company received an award for that development. The Company believes that the refining technology may qualify for the Energy Offset Credits. The qualification of GOLD’n GRO fertilizers will be more complex, but the Company believes that it is also possible to qualify them separately for energy offset credits.
  • This year it is becoming clear that the cost of energy is adjusting to much higher levels due to the global shortage of all forms of energy. Therefore, the value of energy saving technologies will also increase significantly. Itronics, with its portfolio of ‘Zero Waste Energy Saving Technologies’, is well positioned to benefit from the profound changes taking place around the world.
  • Itronics advises that work on the audit of its financial statements is progressing and is expected to be completed by the end of 2022. Once Itronics’ U.S. Securities and Exchange Commission filings are updated, trading in shares will resume for the public.
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“We would like to thank our investors for their continued support,” said Dr. Whitney. “Our portfolio of ‘Zero Waste Energy Saving Technologies’ is making the world cleaner and greener and is now being positioned to enhance the company’s continued drive for profitability.”

About Itronics

Based in reindeer, nevada, Itronics Inc. is a ‘zero waste energy saving technology’ company that produces GOLD’n GRO multi-nutrient liquid fertilizers, silver bars and silver glass. GOLD’n GRO liquid fertilizers, which are environmentally friendly, are widely used in agriculture in California.

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(Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements, such as statements about the growth and profitability of the company, growth strategy , liquidity and access to public markets, declining operating expenses, and trends in the industry in which the Company operates.Forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those described in more detail in the Company’s filings with the Securities and Exchange Commission The Company undertakes no obligation to update these forward-looking statements to reflect actual results, changes in the risks, uncertainties or assumptions underlying or affecting such statements , or for prospective events that may have a retroactive effect).

SOURCE Itronics Inc.

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