For immediate release.
Mag One Products Inc.: Lawfirm, Consultant, Loan
VANCOUVER, BRITISH COLUMBIA, CANADA/25 January 2017. MAG ONE PRODUCTS INC., (“Mag One” or the “Company”) has retained the corporate and securities legal services of the Vancouver lawfirm, Beadle Raven LLP. As the Company’s projects and products grow, having local, experienced, legal services will be a welcome resource.
Mag One has signed a Consulting Agreement with Blue Coast Systems, LLC, (“Blue Coast”) headed by Joseph A. Swider, B.Sc. Mech. Eng., of Richmond, Virginia and former U.S. Naval Officer. Swider has 25 years of experience in international, domestic and federal markets ranging from advanced cyber technology, sensor systems, industrial operations including Mining and Metals, Oil and Gas, Energy sectors as well as various U.S. Federal Departments.
Swider’s mandate as a strategic advisor is to investigate commercialization of MagPower System Inc.’s magnesium-air battery technology for commercial, retail, humanitarian and industrial applications. MagPower is a wholly-owned subsidiary of Mag One.
It was disclosed in the January press release that the Company had received CAN$670,000. in loans from three shareholders and/or directors of the Company. For clarification, $270,000. of the loans bears no interest, has no term and no collateral was required. $400,000. of the loans bears interest at 10%; interest prepaid for three months and personally guaranteed by the Chairman of the Company.
Mag One has disclosed several times in the past three years that it has signed a contract to secure 50M tonnes of serpentinite tailings produced by the former Jeffrey Mines operation located in Quebec. MERN data received from the former General Manager of Jeffrey Mines indicates that 142M tons were produced between 1970 and 1993. The mine continued to operate for another 19 years and finally closed in 2012. Although this historical data indicates a significant resource, it has been determined that the Company is required to file a 43.101 report to support its mineral resource estimate. The Company therefore intends to engage a firm to carry out this work within 45 days of announcement of the mineral resource.
Mag One Products Inc. is a company that aims to be the diamond standard in the magnesium(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 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.
Signed: “Nelson M. Skalbania, B.Ap.Sc., M.Sc., P.Eng.”
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 OTCQB with ticker symbol"MGPRF”. Certain statements contained inthis release may constitute "forward–looking statements" or "forward-looking information" (collectively"forward-looking information")as those terms are used in the Private Securities Litigation Reform Act of1995 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.
#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