For immediate release.
MAG ONE PRODUCTS INC. PARTNERS WITH MAGBOARD LLC
VANCOUVER, BRITISH COLUMBIA, CANADA/29 MARCH 2016.
MAG ONE PRODUCTS INC. (“Mag One” or “Company”) is building a processing plant in Danville, QC to produce magnesium (Mg) metal ingots and high-purity Mg compounds, the latter including MgO and Mg(OH)2. An important use of MgO is in the manufacturing of MgO-wallboard, which is experiencing increased application in the construction industry. A key advantage of MgO-wallboard over conventional wallboards is that it is rot-proof, fire-proof, water-proof, termite-proof and sound-proof.
New, tighter building codes being implemented throughout Canada and the U.S. are driving demand for energy efficient, fire-, water- and mold-resistant products. MgO wallboards are ideally suited to address this demand. In 2015, 21.5 billion square feet of wallboard was sold in the U.S. alone. Currently, China is the only country that manufactures MgOwallboard. Cost-effective MgO products made in North America would have a strong competitive advantage in this large market.
To take advantage of this opportunity, Mag One has entered into an Agreement with MagBoard LLC, a U.S.-based private company that currently manufactures MgO-wallboard in its own Chinese facility. The Mag One-MagBoard partnership will explore the development and construction of a MgO-wallboard (‘Magboard’) plant adjoining Mag One’s processing plant in Danville, QC. Once Mag One’s operations produce surplus MgO, the joint venture between the two companies will involve manufacturing Magboards entirely in Canada at the Quebec site.
In the meantime, the MagBoard plant in Danville will modify the Magboards (received from the company’s plant in China) with value-added manufacturing processes (insulation, etc.) to conform to current building codes in both Canada and the U.S. then sell to the construction markets in North America.
For further information on MagBoard LLC, visit their website: www.rok-on.com
"Nelson M. Skalbania, B.Ap.Sc., M.Sc., P.Eng."
Chairman
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.
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.
#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