St-Georges Eco-Mining’s (CSE:SX) subsidiary EVSX Corp has been served with an application filed in the Ontario Superior Court of Justice by a group of investors seeking the appointment of a receiver over certain assets.
Both companies are reviewing the materials with legal counsel and plan to oppose the relief sought. St-Georges says that a court-appointed receivership is not necessary nor in the best interest of EVSX, its stakeholders, customers, employees, creditors, and shareholders.
The proceeding is scheduled to be heard on 10 September 2026.
St-Georges notes that while the company does not plan to litigate the merits of the application through a news release, it adds that many of the allegations contained in the application remain unproved and are disputed.
EVSX is continuing to restructure and finance initiatives continue to advance. Management has been actively engaged in efforts to strengthen EVSX’s capital structure, reduce liabilities, preserve key operating assets, and support the continued ramp up of its battery processing operations.
The company remains a strategically important asset within St-Georges’ battery recycling and critical minerals platform. The company is continuing to evaluate financing, strategic partnerships, and operational alternatives.
This news comes after EVSX secured a revolving credit facility of up to C$750,000 ($756,336) to support working capital and debt repayments.
EVSX operates a multi-chemistry battery processing line that recovers critical battery metals, including aluminium, steel, and copper. Its facilities are located in Thorold, Ontario, Canada.
St-Georges Eco-Mining develops new technologies and holds a diversified portfolio of assets and patent-pending intellectual property within multiple subsidiaries.
Write to Aaliyah Rogan at Mining.com.au
Images: St-Georges Eco-Mining
