Sale of eCycle Solutions to dynamic global organization, JX Nippon, paves the way to future growth

MISSISSAUGA, Ont., August 4th, 2022 – eCycle Solutions Inc. (“eCycle) has been
purchased by JX Nippon Mining and Metals (“JX”), a leading Japanese-based supplier
of consumable electronic materials, and part of the JX Group, a global enterprise active
in a wide array of businesses including petroleum products, non-ferrous metals and
specialty electronic materials. The new partnership makes Mississauga-based eCycle
part of a dynamic global organization. This will allow it to expand its operations to
provide both additional services for its customers and new opportunities for its
employees.

Yutaka Yasuda, senior executive officer of JX’s metals and recycling division, is
confident that his company is an “an excellent partner” for eCycle, observing that ‘the
strategies and spirit of each of the companies are very complementary and would result
in a fitting combination in the eyes of {each company’s} customers and partners.”

Michael Collins, CEO of eCycle, echoes that sentiment. “We’re excited about engaging
with JX to write the next chapter of eCycle’s story,” he says. “This partnership will allow
us to accelerate our growth. We are developing integration strategies to invest in
initiatives and infrastructure that will help increase our market share and expand our
business into new markets.”

Collins is also encouraged that JX shares eCycle’s commitment to the principles of
Environmental, Social and Governance (ESG) and ethical conduct. eCycle’s new
partners also share a passion for and committed to the Circular economy and the three
R’s – reducing, reusing and recycling.

JX has been a key downstream partner of eCycle for 11 years. Thanks to the recent
transaction, eCycle will be even better positioned to serve its customers and increase its
revenue and bottom-line performance.

eCycle’s most recent owner, Montreal-based Horizon Capital Holdings, a subsidiary of
the Martin Family Office, is proud of the company’s journey.
 
What began as an investment in a small electronics recycling company in Airdrie,
Alberta, providing capital and strategic support to some passionate entrepreneurs, has
grown into Canada’s largest and most reputable electrical and electronic recycling,
ITAD and refurbishing business.

“Our belief is that strong governance and a commitment to our values, such as ESG
and health and safety, do provide competitive advantages,” says David Martin, “We are
proud of the eCycle team and believe that it will continue its successful growth within
JX’s global structure. We look forward to providing the same patient capital and good
governance to other entrepreneurs within our expanding portfolio”.

Origin Merchant Partners acted as exclusive financial advisor to Horizon/eCycle with
respect to this transaction and Davies Ward Philips & Vineberg LLP acted as legal
counsel.

Since it was established in 2005, eCycle Solutions has been committed to protecting
and improving the environment through safe, convenient, and cost-effective recycling
methods for electronic and electrically powered assets. By providing customers with
recycling solutions while ensuring their privacy, eCycle Solutions has been helping
reduce the electronic waste in Canadian landfills.
JX Nippon Mining & Metals (“JX”) is a leading supplier of consumable electronic
materials, and part of the JX Group, a global enterprise active in a wide array of
businesses including petroleum products, non-ferrous metals and specialty electronic
materials. JX supports its global customers with manufacturing plants in the U.S. and
Japan and sales offices worldwide. The company’s standard-setting research and
development labs have created and developed the best-performing electronic materials
available.