For immediate release.
MAG ONE’S CONVERTIBLE DEBENTURE OFFERING
VANCOUVER, BRITISH COLUMBIA, CANADA | Monday, 14 May 2018.
MAG ONE PRODUCTS INC. (“Mag One,” or the “Company”), advises that it will be conducting a
non-brokered private placement offering of up to Five Million Dollars (CAD$5,000,000.), (the “Offering”), by the issuance of Convertible Debentures of the Company (each a “Convertible Debenture”).
There are 100 units available in the Offering, with a minimum tranche of $50,000. The term of each Convertible Debenture matures three (3) years from the date of issuance, carries an interest rate of eight percent (8%) per annum, (interest paid annually, in advance) and is convertible to common shares of the Company at a conversion price of $0.50 per common share, (or at market price, whichever is less, subject to exchange approval.) Maturity is subject to an accelerated maturity of 30 days in the event the Company’s common shares trade at $1.00 or more for ten consecutive trading days.
The Company confirms that its previously announced non-brokered private placement for the sale of units (at $0.20 each), comprised of one common share and one full common share purchase warrant, exercisable at $0.50 per warrant share for a period of one (1) year from Closing, is ongoing.
The proceeds of the Offerings will be used for the Company’s Stage II MgO Pilot Plant, the Pilot Plant to produce
Mg Metal and working capital purposes.
“Nelson M. Skalbania, B.Ap.Sc., M.Sc., P.Eng.”,
Chief Executive Officer
Mag One Products Inc. is a company that aims to be a global leader in the magnesium (Mg) market by concentrating on four projects at its sites in southern Quebec, Canada:
I. Production of high-purity MgO (precursor for Mg metal and other uses) and Silica for use in the cement industry.
II. Production of 99.9% pure Mg metal for increase in demand in the automotive and aerospace industries.
III. Magboard Products Inc., assembly and sale of MgO-based, sheathing panels and wallboards for construction.
IV. MagPower’s Mg-Air Fuel Cell for scalable emergency power on sea and land (lifeboats, miners, etc.)
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.
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". The listings on the Frankfurt and OTCQB exchanges provide the company exposure to the European and U.S. markets and potential investors. Certain statements contained in this 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 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. CSE has 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 and not OTC Markets Group Inc.
are solely responsible for the accuracy of such news releases
#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