For immediate release.
Mag One Products Inc.: Key Result re Magnesium Manufacturing
VANCOUVER, BRITISH COLUMBIA, CANADA | 29 May 2017.
MAG ONE PRODUCTS INC. (“Mag One”) or the (“Company”) is pleased to announce that a key result has been reached in the development of its CO2- and slag-free aluminothermic technology for manufacturing magnesium (Mg) ingots and magnesium-aluminum (Mg-Al) alloys. Mag One’s unique process uses serpentinite tailings near Danville, QC to produce high purity fine-grained magnesium oxide (MgO) which can be sold to the chemical industry or used as the feed source to produce Mg metal and alloys. Specifically, the Company has succeeded in forming compact/dense briquettes (see photo), which meet all the known compositional and microstructural requirements for producing pure Mg ingots and high-value Mg-Al alloys.
Significantly, Mag One’s proposed aluminothermic method for manufacturing Mg will also co-produce aluminum oxide (Al2O3), which has many commercial applications in the chemical, refractory, aluminum and ceramic sectors. As a Canadian producer, Mag One plans to target the U.S. market with the goal of becoming a preferred supplier compared to other current foreign producers.
Key personnel from the Company, headed by Gillian Holcroft, President, along with a group of experienced engineers, metallurgists, and key consultants had an intense review and update session in Montreal. Ideas were shared and a consensus was reached regarding the best path forward. This collaboration has resulted in significant developments towards the construction of the 100 kg/hr. pilot plant for high purity MgO and silica production
James G. Blencoe, Ph.D., Chief Technology Officer and Director of Mag One Products Inc., is the Company’s designated qualified person for this press release, and has reviewed and validated the information contained in it.
Signed: “James G. Blencoe, Ph.D.”
Chief Technology Officer and Director
Mag One Products Inc. is a company that aims to be the diamond standard in themagnesium (Mg) market by concentrating 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.
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 OTCQB with ticker symbol"MGPRF”. Certainstatements contained in this release may constitute "forward–looking statements" or "forward-looking information" (collectively "forward-looking information")as those terms are used in thePrivate Securities Litigation Reform Act of 1995 and similar 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 and the 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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