ASND RNS - PROJECT OF NATIONAL INTEREST28 Apr 2022 12:58
ASCENDANT RESOURCES LAGOA SALGADA PROJECT ATTRIBUTED PROJECT OF NATIONAL INTEREST STATUS BY PORTUGUESE GOVERNMENT
https://www.ascendantresources.com/English/Investors/press-releases/press-release-details/2022/Ascendant-Resources-Lagoa-Salgada-Project-Attributed-Project-of-National-Interest-Status-by-Portuguese-Government/default.aspx
ASCENDANT RESOURCES LAGOA SALGADA PROJECT ATTRIBUTED PROJECT OF NATIONAL INTEREST STATUS BY PORTUGUESE GOVERNMENT
Apr 28 2022
PIN recognition provides expedited procedures and shorter implementation periods for permitting and construction
PIN award emphasizes strong local and Government support
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TORONTO, April 28, 2022 (GLOBE NEWSWIRE) -- Ascendant Resources Inc. (TSX: ASND; OTCQB: ASDRF) ("Ascendant" or the "Company”) is pleased to announce that the Lagoa Salgada VMS project (the “Project”) has been recognized by the Portuguese Government as a Project of National Interest (“PIN”). The award, as dated April 4th, 2022 is based on various economic, environmental and social factors and its positive impact on the local Municipalities covered by the mining concession, the region and for Portugal.
The award of PIN status by the Agência para o Investimento e Comércio Externo de Portugal (“Portuguese Agency for Investment and Foreign Trade of Portugal” or “AICEP”) provides the Project with direct access to the government and ensures that all interactions with public entities involved in the environmental and construction permitting process and all procedures for licencing will be facilitated and simplified through AICEP while complying with all applicable regulations. The development of the Project will now be subject to continuous follow-up by the CPAI - Permanent Commission for Investor Support to ensure its swift progress to the benefit of the national interest.
Mark Brennan, Ascendant’s Executive Chairman commented, “To have the Lagoa Salgada project recognized as a Project of National Interest from the Portuguese Government is a very significant milestone for the project. We view this as a strong endorsement of the benefits the Lagoa Salgada project will bring to the communities of Grândola and Alcácer do Sal, who have been extremely supportive to date, and Portugal itself. We welcome the additional assistance of AICEP to help fast-track permitting and development of the Project as we move through the development process.”