For immediate release.
Mag One Products Inc.: PILOT PLANT & UPDATE
VANCOUVER, BRITISH COLUMBIA, CANADA | 07 December 2016.
MAG ONE PRODUCTS INC. (“Mag One” or the “Company”) working closely with our partners and advisors in the magnesium (“Mg”) and concrete industries and based on the keen interest of several potential buyers/users in exploring offtake agreements, as well as potential investors, all expressed they would like to see the quality of the products as produced with a pilot plant, to consider both offtake agreements and/or more serious investment in the Company.
Our technical advisors have determined that a pilot plant is required to fully explore the market, financial benefits and commercial viability of producing a range of magnesia, (“MgO”) and other products from the tailings. For Mag One, an added benefit is the ability to convert most the content of its 50-million tonnes of tailings into saleable products which will minimize the requirement for ongoing waste management at the site in Quebec, Canada and underpins our goal to be a green producer of magnesium metal, magnesium compounds and related byproducts.
Initial engineering estimates have determined that a relatively small scale, 18,000 tonnes/annum (“tpa”) high-purity magnesia facility will result in a compelling ROI which will be further confirmed through the pilot plant effort.
The Quebec Government has supported the Company to construct Phase I of the magnesia pilot plant. Initial funding of $495,000. has been confirmed for this phase. City and local governments at the Mag One site also strongly support the pilot and commercial development plans of the Company which will provide many new jobs.
The design of the Company’s flagship Mg metal production process will continue in parallel. It is understood that the precursor in producing high-quality, high-purity (99%) Mg metal, is to produce high-quality MgO (99%).
Mag One has already selected the land/site for the pilot plant near the tailings site and equipment selection, procurement and construction is expected to start immediately.
“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.
#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