Northstar Reports Third Quarter 2025 Financial and Operating Results and Announces Upcoming Investor Conference Call

Executive Summary

• Northstar Clean Technologies reported Q3 2025 financial results, showing a net loss of C$3.95 M for the quarter and C$10.03 M for the nine‑month period ended September 30, 2025.
• The company announced commercial milestones: first production run of liquid asphalt (July 10 2025) and first production of solid asphalt pellets from reclaimed shingles (September 10 2025).
• A non‑brokered private placement closed on July 28 2025, raising approximately C$3.6 M at $0.30 per unit; proceeds are earmarked for commercial ramp‑up and general corporate purposes.

Key Details

• Financial Highlights – Quarter (Three months ended Sep 30 2025)
• Net loss: C$3,947,979 (vs. C$3,207,180 in Q3 2024).
• Loss per share (basic & diluted): $0.03.
• Net cash used in operating activities: C$1,453,609.
• Capital expenditures: C$1,665,409.

• Working capital deficit: $(3,814,324).

• Financial Highlights – Nine months ended Sep 30 2025

• Net loss: C$10,028,031 (vs. C$6,164,535 in same period 2024).
• Loss per share (basic & diluted): $0.07.
• Net cash used in operating activities: C$5,058,138.
• Capital expenditures: C$7,344,784.

• Working capital deficit: $(3,814,324).

• Debt and Financing Position

• Senior secured non‑revolving loan (7.95%): C$8,524,160 outstanding (up from C$1,600,000).
• Convertible debentures principal remaining: C$9,050,000 (down from C$10,405,000).

• Royalty debenture balance: C$15,512,175 (up from C$14,070,000).

• Equity Structure

• Weighted‑average common shares outstanding (basic & diluted): 146,511,418 (Q3) / 138,683,852 (nine months).

• Shares outstanding at period end: 150,884,415.

• Private Placement Details (July 28 2025)

• Units sold: 11,926,664 units at $0.30 per unit → gross proceeds ≈ C$3.6 M.

• Each unit = 1 common share + 1 warrant (exercise price $0.45, 36‑month term).

• Operational Milestones

• July 10 2025: First run of liquid asphalt produced; independent lab results indicate quality superior to pilot plant data, suggesting upside for future commercial agreements.
• September 10 2025: First production of solid asphalt pellets from end‑of‑life shingles; demonstrates ability to process weathered consumer shingles and manufactured waste asphalt, expanding market logistics options.

• September 24 2025: Issuance of a new U.S. patent covering limestone recovery from the proprietary shingle reprocessing technology; adds a fourth revenue product line and enhances final product quality.

• Investor Conference Call

• Date & Time: Tuesday, November 25 2025 at 14:30 MDT / 16:30 EDT (virtual webcast).
• Title: “Northstar Clean Technologies Q3 2025 Interim Results and Operational Update.”
• Registration link provided in release.

Notable Quotes

• “The successful commissioning of our processing units and the superior quality of both liquid asphalt and solid pellets underscore the commercial viability of Northstar’s patented technology,” – Aidan Mills, President & CEO.