For immediate release.
Mag One Products Inc. makes offer for MagPower Systems Inc.
VANCOUVER, BRITISH COLUMBIA, CANADA/23 August 2016. MAG ONE PRODUCTS INC. (“Mag One” or the “Company”) confirms that it has executed a Revised JV Agreement with MagBoard LLC, via its wholly-owned subsidiary, Mag One Operations Inc., forming a new company called Magboard Products Inc., (“MPI”), whereby they will develop an assembly plant in Quebec (adjacent to the site of Mag One’s huge stockpile of tailings) to manufacture the ROK-ON TM Structural Insulated Sheathing. Closing is expected in mid-September with a plan to start assembling product inventory in December 2016.
Building codes are being tightened throughout North America to require increased energy and fire performance in construction. These changes are adding significant cost to billions of square feet of exterior wall built each year in the Canada and the US. Magboard’s ROK-ON™ products are magnesium-based structural insulated wall systems that are fire, rot, termite, mold and impact resistant. ROK-ON™ systems substantially reduce the number of layers commonly used in construction to meet new code mandates. This performance allows builders to meet new codes at a lower installed cost, in less time than conventional plywood, gyproc/drywall, or other options. Since finishes can be directly applied to ROK-ON™, these products are ideally suited to prefabrication, a trend gaining substantial momentum on construction. For more information on the Structural Insulated Sheathing please visit the www.ROK-ON.com website.
Mag One is concurrently still concentrating its efforts on the production of MgO and other related Mg-compounds and by-products as a precursor to its processing and production of ultrapure Mg metal. It is important to note that when Mag One has a surplus of MgO in the future, this can be used by MPI for the production of their own proprietary SIS and other complimentary green building products in Quebec.
“Nelson M. Skalbania, B.Ap.Sc., M.Sc., P.Eng.”, Chief Executive Officer
MagOneProductsIncis acompanythataimstobethediamondstandardin themagnesium(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 and compounds.
- 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.
Signed: “Nelson M. Skalbania.”
CEO & Chairman
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.
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T:+1.604.669.4771 Fx: +1.604.669.4731 E: info@MagOneProducts.com www.MagOneProducts.com