For immediate release.
Mag One Products Inc. makes offer for MagPower Systems Inc.
VANCOUVER, BRITISH COLUMBIA, CANADA | 23 November 2016. MAG ONE PRODUCTS INC. (“Mag One” or (the “Company”) announces that it has made an Offer to acquire 100% of the shares and assets of a private company called MagPower Systems Inc. (“MagPower”).
MagPower is the world-leading Magnesium Air Fuel Cell (“MAFC”) technology company. MAFC is a powerful, reliable and environmentally friendly, non-toxic alternative power source that generates electricity by combining Magnesium, Saltwater and Air.
MAFC generates electricity and can be used in portable power DC, remote standby power, telecommunications, recreational vehicles, ele4ctric vehicles, marine, electric bicycles as well as emergency power and backup systems to solar power, schools, homes and telephone companies.
For further information, please visit MagPower’s website:
www.MagPowerSystems.com
This potential acquisition is in keeping with Mag One’s business direction to explore various opportunities in businesses where Magnesium is used.
MagPower has spent over a decade in research and has developed some working prototypes. Additional information will be forthcoming in due course. This safe fuel cell technology with electrical consumption reduction and environmental benefits, compliments Mag One’s other Mg-based businesses such as its Magboards, MgO and Mg metal production in
“Nelson M. Skalbania, B.Ap.Sc., M.Sc., P.Eng.”, Chief Executive Officer
- 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 OTCQB with tickersymbol"MGPRF”. Certain statements contained in this release may constitute "forward–looking statements" or "forward-looking information" (collectively "forward-lookinginformation")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.
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