Minnova Corp. (TSXV:MCI) agreed to acquire DUMA Engineering (2018) Inc on December 13, 2021. The acquisition price will consist of; a) an initial payment of CAD 0.1 million for a 50% interest and b) a final payment to be determined following the completion of satisfactory due diligence and the filing of certain patents related to their innovative gasification technology.

Mario Mantaci and Marco Sonnessa, of DUMA will assume leadership roles in Minnova Renewable Energy as Vice-President Engineering and Vice President Business Development, respectively. The closing of the acquisition of DUMA is subject to a number of conditions including the satisfactory completion of due diligence, receipt of all regulatory approvals and is expected to be concluded by the end of Q2/2022. As of Sept 30,2022 Minnova Corp.

completed the acquisition of an initial 50% interest in Duma Engineering. Acquisition of the remaining 50% interest will consist of a combination of cash payments and shares and will be dependent on several conditions, including; a) long run test performance of the demonstration plant to produce a 50% hydrogen content syngas, b) other techno-economic and environmental considerations and c) filing of patent applications.