Today after the closing bell, Scorpex announced it has been granted its Use of Soil Permit from the Mexican federal government. According to the company, it is the “most significant permit the company has received to date” for its first full service waste disposal and recycling facility near Ensenada, Mexico.
“This achievement is the most significant milestone Scorpex has ever accomplished,” emphasized Chief Executive Officer Joseph Caywood. “Most of our efforts for the past several years has been dedicated to the permitting process, and for us to receive this Use of Soil Permit is a monumental achievement for our Company and its shareholders.”
The Use of Soil Permit is an environmental approval from the Secretariat of the Environment, Natural Resources and Fishing, which has sole jurisdiction over environmental policy and enforcement throughout Mexico. In order to receive this crucial permit, the Company had to submit numerous studies and comply with every request from this government agency. The Use of Soil Permit is necessary for the issuance of future state and local operational permits.
“We are now very close to obtaining the rest of the permits required for use and operations, which will trigger the previously announced equipment financing we have committed from lenders,” Mr. Caywood stated.
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