BluMetric Announces Extension of Mine Water Remediation Contract for 2027 Season
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Rhea-AI Summary
BluMetric Environmental (BLMWF) signed a $2.7 million extension to operate and maintain a Northwest Territories mine water treatment plant for the 2027 season.
The work is in collaboration with local Indigenous partners. The plant treats water pumped from the mine and contact water collected in tailings ponds before environmental release. Discharged water must meet criteria set by regulators to protect human health and the environment.
BluMetric also granted employees and executives options on 167,000 common shares, effective August 26, 2026. The options vest over two years and are exercisable at $1.07 per share for seven years.
Positive
- $2.7 million contract extension signed for the plant’s 2027 operating season.
Negative
- Options on 167,000 common shares at $1.07 per share could dilute holders; they vest over two years and are exercisable for seven years.
Details
News Market Reaction – BLMWF
On Oct 7, the first trading day after this news, BLMWF closed 5.26% below the previous close.
Data tracked by StockTitan Argus for the Oct 7 session.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Ottawa, Ontario--(Newsfile Corp. - September 28, 2026) - BluMetric Environmental Inc. (TSXV: BLM) (OTCQX: BLMWF) ("BluMetric" or "the Company"), an engineering WaterTech and full-service environmental consulting firm, is pleased to announce it has signed a
"The contract extension demonstrates our unique expertise in the Mining sector and continued collaboration with local, Indigenous resources," stated Scott MacFabe, Chair and CEO. "Our distinguished work and strong presence in Northern Canada are reflected in this project and helps drive repeatable business. We are honoured to be playing a critical role in the management of water for mine sites across Canada."
Operation of the plant involves the treatment of water that is pumped from the mine and all contact water that is directed to and collected in the tailings ponds prior to environmental release. Water discharged to the environment must meet stringent criteria established by the regulatory authorities for the protection of human health and the environment.
Pursuant to the Company's Board compensation policy, BluMetric has granted options of 167,000 common shares to Employees and Executives of the Company. These options are granted effective August 26, 2026, vest over two years, and are exercisable into common shares of BluMetric at a price of
About BluMetric Environmental Inc.
BluMetric Environmental Inc. is a publicly traded water technology and environmental engineering firm. BluMetric designs, fabricates, and delivers sustainable solutions to complex water and environmental challenges. The Company is supported by more than 360 employees across 16 offices and 3 manufacturing facilities, with over 50 years of history. Headquartered in Ottawa, Ontario, BluMetric's team of industry experts serves Commercial and Industrial, Government, Military, and Mining clients in North America and the Caribbean.
For more information, visit www.blumetric.ca or please contact:
| Scott MacFabe, Chair and CEO BluMetric Environmental Inc. Tel: 1-877-487-8436 x242 Email: smacfabe@blumetric.ca | Dan Hilton, CFO BluMetric Environmental Inc. Tel: 1-877-487-8436 x550 Email: dhilton@blumetric.ca |
| Brandon Chow, Principal & Founder Panolia Investor Relations Inc. Tel: 1-647-598-8815 Email: brandon@panoliair.com |
Forward-Looking Statements
Some of the statements in this press release, including those relating to the Company's quarterly and annual results, future products, opportunities and cost initiatives, strategies, and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR+ at www.sedarplus.ca. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316085
FAQ
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How much is BluMetric Environmental’s 2027 mine water contract extension?
BluMetric signed a $2.7 million extension to operate and maintain a mine water treatment plant in the Northwest Territories for the 2027 operating season, in collaboration with local Indigenous partners.