Zefiro Methane Corp. Sponsor Entity Files Provisional Patent for Orphaned Oil & Gas Well Data Portal
FORT LAUDERDALE, Fla., April 07, 2025 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (OTCQB: ZEFIF) (the 'Company', 'Zefiro', or 'ZEFI') today announced that X Machina Sustainable Technologies ('XMST'), a major sponsor entity of the Company, filed a provisional patent central to forming an industry-leading data portal of orphaned oil and gas wells across North America.
Specifically, the provisional patent will provide Zefiro's team of well remediation specialists access to a geographical interface that incorporates satellite automated methane detection figures, includes proprietary field quantification data, and implements other critical attributes required for training an AI model capable of identifying leaking orphaned oil and gas wells. XMST will license the use of the patent to Zefiro at no cost, which will bolster the Company's efforts to significantly improve its batch efficiency gain, a measurement of the monetary resources allocated per ton of methane gas captured.
This announcement is the latest in a series of initiatives Zefiro has undertaken to incorporate innovative technologies into their well plugging and high-quality carbon credit generating operations, including partnerships with Geolabe and Keynum and the launch of the Zefiro Lifecycle Solution, a field data capture and workflow management platform built in partnership with CarbonAi Inc., to significantly reduce the costs and timeframes associated with plugging orphaned wells and the subsequent certification of accredited carbon offset products.Pictured: Zefiro crew members plugging an orphaned oil well in Pennsylvania
Readers using news aggregation services may be unable to view the media above. Please access SEDAR+ or the section of the Company's website for a version of this press release containing all published media.
Zefiro Founder and Chief Executive Officer Dr. Talal Debs commented, 'From deploying first-rate machinery at job sites across America to collecting satellite data that provides communities accurate information regarding harmful methane leaks, incorporating innovative technologies has always been at the heart of Zefiro's commercial strategy. This patent will provide Zefiro's team access to critical data that will help our public and private sector clients better protect their most valuable land, water, and air resources.'
Zefiro Chief Technology Officer Richard Walker commented, 'Now more than ever, modern technology must be at the forefront of pressing environmental remediation efforts. By harnessing the innovations protected within this patent to remediate a larger number of leaking orphaned oil and gas wells, our team will have greater capacity to serve an expanding portfolio of clients and help more communities across North America unlock their full economic potential.'
Reporters/Media: For any questions or to arrange an interview with Dr. Debs or Mr. Walker, please contact Rich Myers of Profile Advisors (New York City) by email at media@zefiromethane.com or by telephone at +1 (347) 774-1125.
About Zefiro Methane Corp.
Zefiro is an environmental services company, specializing in methane abatement. Zefiro strives to be a key commercial force towards Active Sustainability. Leveraging decades of operational expertise, Zefiro is building a new toolkit to clean up air, land, and water sources directly impacted by methane leaks. The Company has built a fully integrated ground operation driven by an innovative monetization solution for the emerging methane abatement marketplace. As an originator of high-quality U.S.-based methane offsets, Zefiro aims to generate long-term economic, environmental, and social returns.
On behalf of the Board of Directors of the Company,
ZEFIRO METHANE CORP.
'Talal Debs'
Talal Debs, Founder & CEO
For further information, please contact:
Zefiro Investor Relations1 (800) 274-ZEFI (274-9334)investor@zefiromethane.com
For media inquiries, please contact:
Rich Myers - Profile Advisors (New York)media@zefiromethane.com +1 (347) 774-1125
Forward-Looking Statements
This news release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information is often, but not always, identified by the use of words such as 'seeks', 'believes', 'plans', 'expects', 'intends', 'estimates', 'anticipates' and statements that an event or result 'may', 'will', 'should', 'could' or 'might' occur or be achieved and other similar expressions. In particular, this news release contains forward-looking information including statements regarding: the Company's intention to reduce emissions from end-of-life oil and gas wells and eliminate methane gas; the Company's partnerships with industry operators, state agencies, and federal governments; the Company's expectations for continued increases in revenues and EBITDA growth as a result of these partnerships; the Company's intentions to build out its presence in the United States; the anticipated federal funding for orphaned well site plugging, remediation and restoring activities; the Company's expectations to become a growing environmental services company; the Company's ability to provide institutional and retail investors alike with the opportunity to join the Active Sustainability movement; the Company's ability to generate long-term economic, environmental, and social returns; and other statements regarding the Company's business and the industry in which the Company operates. The forward-looking information reflects management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed timeframes or at all. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: (i) adverse general market and economic conditions; (ii) changes to and price and volume volatility in the carbon market; (iii) changes to the regulatory landscape and global policies applicable to the Company's business; (iv) failure to obtain all necessary regulatory approvals; and (v) other risk factors set forth in its Prospectus dated April 8, 2024 under the heading 'Risk Factors'. The Company operates in a rapidly evolving environment where technologies are in the early stage of adoption. New risk factors emerge from time to time, and it is impossible for the Company's management to predict all risk factors, nor can the Company assess the impact of all factors on Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The forward-looking information included in this news release is made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
Statement Regarding Third-Party Investor Relations Firms
Disclosures relating to investor relations firms retained by Zefiro Methane Corp. can be found under the Company's profile on SEDAR+ at www.sedarplus.ca/.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d56d955e-5a52-4cde-ba01-ec8df9147704Sign in to access your portfolio
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
an hour ago
- Business Wire
Spanish Mountain Gold Announces Debt Settlement Agreement
VANCOUVER, British Columbia--(BUSINESS WIRE)--Spanish Mountain Gold Ltd. (the " Company" or " Spanish Mountain Gold") (TSX-V: SPA | FSE: S3Y | OTCQB: SPAUF) announces that it has entered into a debt settlement agreement with Whittle Consulting Ltd., an arm's length creditor of the Company (' Whittle ') to settle an aggregate of $379,720 in outstanding debt (the ' Debt '). In settlement of the Debt, the Company will (i) pay Whittle $14,320, in cash, and (ii) issue 2,110,919 common shares in the capital of the Company (the ' Shares ') as directed by Whittle at a price of $0.1731 per Share (the ' Debt Settlement '). The Debt relates to past services rendered by Whittle Consulting Ltd. to the Company. Closing of the Debt Settlement is subject to a number of customary closing conditions, including, but not limited to, approval from the TSX Venture Exchange. The Shares to be issued in connection with the Debt Settlement will be subject to a statutory four month plus a day hold period in accordance with applicable securities legislation. About Spanish Mountain Gold Ltd. Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project (Project) towards construction of the next gold mine in the Cariboo Gold Corridor, British Columbia. The Company will publish, within 44 days of this news release, a new NI 43-101 Technical Report setting out the new executable vision to advance the Project. This new NI 43-101 Technical Report, with a de-risked and optimized Preliminary Economic Assessment (PEA) with an updated Mineral Resource Estimate (MRE), will supersede the prior technical report of the Company. Upon receipt of the new PEA and updated MRE, the Company will decide the next steps to advance the Project to position the Company to make a construction decision in or before 2027. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details of the Company are available on and on the Company's website: On Behalf of the Board, 'Peter Mah' President, Chief Executive Officer and Director Spanish Mountain Gold Ltd. 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. FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press release constitute "forward-looking statements" or "forward-looking information" Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward looking statements and information.
Entrepreneur
10 hours ago
- Entrepreneur
How to Oust a Difficult Co-founder Legally and Smoothly
There are a number of reasons that a co-founder may want to part ways with another co-founder. There are also legal considerations to keep in mind when co-founders separate. Opinions expressed by Entrepreneur contributors are their own. Imagine this. Jean and John, who met at a startup incubator, founded a company together. But as they grew, Jean realized that she and John weren't aligned on many things, including what the company's future should look like. Neither John's goals nor his behavior reflected the company's mission, so Jean ousts John from the business. Reasons for a co-founder's departure There are a number of reasons that a co-founder may want to part ways with another co-founder. 1. Lack of dedication A startup that wants to scale for a big exit typically requires founders who dedicate long hours for little pay (at least at the beginning). While some founders, like Jean, are willing to do that, some, like John, are not. Jean was willing to put in as many hours as it took to meet her responsibilities. John, on the other hand, arrived late and left early, demonstrating that he wasn't dedicated to his role — or the company. 2. Difficult to work with Some founders are simply difficult to work with. They're not collaborative, they're closed off to others' input or they belittle or micromanage their employees. While in the office, John's attitude was one of superiority. He felt that certain tasks were below him and that others should do the "heavy lifting." He criticized his employees at every opportunity, lowering morale and eventually pushing a very dedicated, key employee out of the company. 3. Lack of alignment with vision While a dream team of co-founders might be committed and great as colleagues, they might have different visions about the company's future. For example, they may disagree on a pivot other founders believe is necessary. Jean wanted to focus on R&D to ensure ongoing innovation, but John was focused on expanding the company. In addition to his behavior, this lack of alignment caused so much tension that Jean started the process of terminating her co-founder. Related: So Your Co-Founder is Threatening to Quit Unless You Give Them More Equity. What Should You Do? Legal considerations In addition to mistakes that can be made during the termination process, there are several legal considerations to keep in mind when co-founders separate. 1. Complying with employment law Founders are almost always employees by law. When terminating an employee, keep in mind — and meet — the legalities of termination, including filing certain paperwork and notices, and meeting deadlines for paying the final paycheck, for example. When the tension between Jean and John began, Jean documented each instance so she had relevant backup at the time of John's termination. 2. Is your relationship buttoned up? Make sure you are not giving an ousted co-founder leverage. Breaking promises or not protecting the company legally in its founding documents on IP assignments or confidentiality obligations means that they now have valuable IP the company needs. 3. Do you have the legal right? It's critical to ensure that a co-founder has the legal right to terminate another co-founder. If they do not, they should take the necessary steps to secure those rights; it might not be as simple as telling them they are fired. For example, the company's bylaws might allow a co-founder to be terminated only if the board votes to do so. The ousting founders need to make sure they can — and do — get board support. When John's performance began to decline, Jean consulted with the company's board to ensure the board was informed from the outset. More legal considerations: What NOT to do While there are considerations to make so as not to run into legal issues, there are also considerations for what NOT to do. 1. Don't think about a separation agreement A legally binding separation agreement can get you a release of claims, potentially non-disparagement terms and other benefits for the company, including agreements to not sue. Investors will want to see this if at all possible in diligence. It's worth some money to get this. As soon as John's performance started suffering and other employees began complaining about his behavior, Jean consulted an employment attorney to prepare the paperwork necessary for a separation agreement, enabling the process to be completed without worrying about a potential lawsuit. 2. Forget to cut off access to systems To prevent an ousted co-founder from accessing company information post-termination, ensure that they can no longer access the company's systems. Disgruntled employees with access to company data can cause major problems. Once John was officially "out," all access to company information was cut off; Jean knew that, if given the opportunity, John would have tried to access certain data once he exited the company. 3. Bash the ousted founder to employees, investors and other stakeholders Sometimes in trying to explain the ousted founder's departure, founders will resort to speaking negatively about them; this opens the company to defamation liability. It can also reflect badly on the company and the founding terms. Finally, it can lead to the ousted founder becoming more hostile toward the company. Despite their differences, Jean maintained reasonable levels of professionalism. Although the process was stressful for her, her team and ultimately the company, John's ouster and the reasons behind it remained within the executive leadership team. Related: 4 Sane Strategies for Maintaining Healthy Co-Founder Relationships Ramifications of skirting the law All of this advice hinges on the remaining founders meeting the requirements to legally terminate a co-founder. When they don't, there are ramifications. 1. Incurring penalties and legal claims First, by not complying with employment laws, penalties can be incurred, and legal claims are given to the ousted founder; these can add up. For example, in California, if all wages aren't paid on the final day of employment, the ousted founder is entitled to a penalty equal to one full day of wages for every day until they are fully paid (up to 30 days). Jean's diligence in consulting a startup attorney prepared her for the separation. In addition to the separation agreement, Jean presented John with his final paycheck at the termination meeting. 2. Post-termination negotiations If you don't button up your relationship with the founder prior to termination, you will be stuck post-termination negotiating for what you need. At this point, you are unlikely to have much leverage. 3. No separation agreement If you fail to get a separation agreement, investors may push on you in diligence to get one later; this is often difficult. Also, you may subject the company to claims that would have been released if money was offered as severance at the outset. Note that a founder may sign a separation agreement quickly if it's offered with a positive message and incentives. The absence of an up-front offer can result in litigation, and demands may increase. The bottom line While there are myriad factors that contribute to the ousting of a company founder, it behooves those on the company side to make appropriate preparations to avoid legal troubles. Ready to break through your revenue ceiling? Join us at Level Up, a conference for ambitious business leaders to unlock new growth opportunities.
Business Wire
14 hours ago
- Business Wire
WELL Health Announces Voting Results for Election of Directors
VANCOUVER, British Columbia--(BUSINESS WIRE)-- WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (the ' Company ' or ' WELL '), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce that at its annual general meeting held June 30, 2025 (the ' Meeting '), all of the nominees for election as directors of the Company referred to in its notice of meeting and information circular dated May 28, 2025 for the Meeting were elected. A total of 67,105,724 common shares representing 26.52% of the outstanding common shares of the Company were voted by proxy at the Meeting. Voting results for the election of directors at the Meeting were as follows: Resolution Vote Type Total Votes % Voted Kenneth Cawkell For Against Withheld 55,319,811 0 11,776,033 82.45% 0% 17.55% John Kim For Against Withheld 63,350,632 0 3,745,212 94.42% 0% 5.58% Sybil E Jen Lau For Against Withheld 65,493,814 0 1,602,030 97.61% 0% 2.39% Thomas Liston For Against Withheld 58,911,074 0 8,184,770 87.80% 0% 12.20% Tara McCarville For Against Withheld 58,713,637 0 8,382,207 87.51% 0% 12.49% Hamed Shahbazi For Against Withheld 49,082,859 0 18,012,985 73.15% 0% 26.85% Expand The results of other matters considered at the Meeting are reported in the Report of Voting Results as filed on SEDAR+ ( filed on July 4, 2025. WELL HEALTH TECHNOLOGIES CORP. Per: 'Hamed Shahbazi' Hamed Shahbazi Chief Executive Officer, Chairman and Director About WELL Health Technologies Corp. WELL's mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL's comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL's solutions enable more than 42,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 210 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol 'WELL' and on the OTC Exchange under the symbol 'WHTCF'. To learn more about the Company, please visit:
