For immediaterelease.
ACANA SIGNS MEMORANDUM OF UNDERSTANDING
Surrey, British Columbia, Canada /January 26, 2015/ CSE:APB/ ACANA CAPITAL CORP. (“Acana” or the “Company”) is pleased to announce, further to its news release of October 26, 2014, that negotiations of a Memorandum of Understanding ("MOU") are complete and it has entered into an MOU with regard to the acquisition of 100% of a private limited liability company called North American Magnesium Products, LLC ("NAMP") (the "Acquisition"). NAMP is based in Oak Ridge, Tennessee, and is headed by James G. Blencoe, Ph.D.
The main asset of NAMP is proprietary technology for the production of magnesium ("Mg") metal and Mg compounds. NAMP's laboratory test results using various Mg ores indicate that Mg metal and Mg compounds can be produced at prices well below those charged by practicing companies, which use old, outdated technologies to produce their magnesium products. The parties are proceeding to negotiate a definitive agreement for the Acquisition and expects that those negotiations will be complete by January 30, 2015 in accordance with the MOU. The Company anticipates that the acquisition will be considered a Fundamental Change as defined in the policies of the CSE.
Further to our press release of November 29, 2014, negotiations regarding an agreement to access and exploit a large mass of magnesium-silicate ore (serpentinite) in Asbestos, Quebec, Canada are ongoing. Tests performed by NAMP have shown that serpentinite is highly amenable to processing by the NAMP methods.
The Company anticipates closing the financing previously announced on November 12, 2014.
Information regarding the Company can be found on SEDAR at www.SEDAR.com, and by visiting the Canadian Securities Exchange website at www.thecse.com.
"Lucky Janda"
Chief Executive Officer
MagOneProductsInc.is acompanythataimstobethediamondstandardinthemagnesium(Mg)marketbyconcentrating on four projects at its manufacturing plant site in southern Québec,Canada.
- Production of high-purity MgO, Silica and other saleable co-products, byproducts andcompounds.
- Production of 99.9% pure Mg ingots.
- Assembly and sale of magnesium oxide-based structural insulated sheathing panels.
- MagPower’s Mg-Air Fuel Cell for emergency power on sea and land.
Key advantages that these four projects share are Mag One’s advanced technologies, a modular processing plant expansion concept, and the Company’s easy access to tonnes of serpentinite tailings.
www.MagOneProducts.com
For further information or questions kindly contact the Company via email: info@MagOneProducts.com
Mag One is listed on the CSE with the symbol, “MDD”, the Börse Frankfurt stock exchange (“Frankfurt”) with the ticker symbol “304” and the OTCQBwithtickersymbol"MGPRF”.Certainstatementscontainedinthisreleasemayconstitute"forward–lookingstatements"or"forward-looking information"(collectively"forward-lookinginformation")asthosetermsareusedinthePrivateSecuritiesLitigationReformActof1995andsimilar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. This release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof andthe Company is not obligated to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. This news release does not constitute an offer of securities for sale in the United States. The Frankfurt Boerse, OTQ Markets Group Inc., CSE, or CNSX Markets have not reviewed this news release and does not accept responsibility for the adequacy or accuracy of the content of this news release. Issuers of news releases. are solely responsible for the accuracy of such news releases. For further information on risk, investors are advised to see the Companies MD&A and other disclosure filings with the CSE regulators which are found at www.sedar.com.
#145 - 925 Georgia Street West, Vancouver, BC V6C3L2 Canada
T:+1.604.669.4771 Fx: +1.604.669.4731 E: info@MagOneProducts.com www.MagOneProducts.com