Mazarin Inc. and its subsidiary Asbestos Corporation Limited acquire two immovable properties

THETFORD MINES, QC, March 10, 2021 /CNW Telbec/ - Mazarin Inc. (TSXV: MAZ.H) and its subsidiary, Asbestos Corporation Limited (TSXV: AB.H), announce the acquisition by Asbestos Corporation of land, serpentine tailings and buildings that constitute the former Carey mine located in the des Appalaches and Robert-Cliche regional county municipalities as well as an agreement in principle for the acquisition of the adjacent land and serpentine ore deposits that form part of the same package. The purchase price of these properties, including accessory and start-up costs, is in the order of $900,000. On the one hand, the objective is to support and accelerate the development of a privately-owned company based in Thetford Mines whose mission is to produce and commercialize products by means of an innovative process and of which Asbestos Corporation will become a shareholder. On the other hand, the acquisition of the adjacent property will facilitate the development of projects which would feed off the serpentine tailings.

"As the owner of several serpentine ore tailings in the Thetford Mines region, Asbestos Corporation sees itself as the promoter of strategic alliances based upon the beneficiation of metals and minerals contained in the serpentine tailings while, at the same time, fostering a circular economy and the removal of asbestos from these tailings," said Mr. Guy Bérard, President of both corporations.

Mazarin Inc. and Asbestos Corporation Limited are two natural resource companies whose focus in on the development of industrial minerals in order to provide value-added products that meet the criteria of customers worldwide with regard to performance and economic and ecological concerns. Mazarin's shares trade on the NEX Board of TSX Venture Exchange under the stock symbol MAZ.H. Asbestos Corporation Limited's shares trade on the NEX Board of TSX Venture Exchange under the stock symbol AB.H.

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Corporation's control. These factors include: general market and industry conditions, risks related to commissioning, to continuous operations and to commercialization of new technologies and other risks disclosed in the Corporation's filings with Canadian Securities Administrators.

Forward-looking statements are based on the expectations and opinions of the Corporation's management as of the date of this press release. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Mazarin Inc.