PRESS RELEASE
MAG ONE SUBSIDIARY RECEIVES PURCHASE ORDER FROM TATA STEEL (INDIA)
Vancouver, B.C., Canada – January 23, 2020 – Mag One Products Inc. (CSE: MDD) (the “Company” or “Mag One”) announces that its subsidiary, Mag One Operations Inc., has received an initial purchase order from India-based Tata Steel, one of the largest steel manufacturers in the world with a presence on 5 continents, to evaluate the feasibility of using the proprietary, game-changing Tech Mag Technology, from a non-serpentinite-based feed source to produce low cost, low carbon-footprint primary magnesium metal.
Mag One Operations has into a Technology Acquisition Agreement with Tech Magnesium and its founder, Dr. Douglas Zuliani, whereby Mag One has an exclusive, worldwide license to the Tech Mag Technology as well as the exclusive right to acquire full ownership of the Tech Mag Technology and all associated intellectual property (IP). Dr. Zuliani has nearly forty years of experience in metals production and processes, including senior management roles at Timminco Ltd for more than fifteen years. Today he recognized as one of the foremost magnesium experts in the world. The downpayment has been received from Tata Steel.
Gillian Holcroft, President and CEO of Mag One, said the following: “This PO lays the groundwork for an international collaboration with Tata Steel whereby the Tech Mag Technology could also be implemented in other jurisdictions around the world using a variety of feed sources (ex. serpentinite, dolomite, magnesite, olivine, etc.), thus immensely diversifying value for our shareholders. We continue to collaborate with our local partners, the University of Sherbrooke and the Centre d’Innovation Minière de la MRC des Sources (CIMMS) for the hydrometallurgical processing of serpentinite mine tailings, but we have recently engaged Glencore XPS to advance specifically the Tech Mag Technology to further its development for both serpentinite and non-serpentinite feed sources to produce primary magnesium metal. With the feasibility determined, we would expect the relationship with Tata Steel to continue throughout the various demonstration phases of the development, right up to full commercialization.”
In separate news, pursuant to the Company’s January 7th, 2020 press release regarding the signing of a definitive earn-in and operating agreement between Mag One Operations and Blue Lagoon Resources (“Blue Lagoon”) to form a joint venture, the initial closing has taken place and the full agreement is being implemented. Ms. Holcroft added that, “This new chapter for Mag One Operations is exciting. I look forward to working closely with Mr. Rana Vig, CEO of Blue Lagoon, and with his team to accelerate our project development and to bring great value to both Mag One and to Blue Lagoon.”
On behalf of the Board, “Gillian Holcroft”, President & CEO.
Neither the Canadian Securities Exchange nor CNSX Markets accepts responsibility for the adequacy or accuracy of this news release.
About Mag One
Mag One is a technology, processing & production company. Using its game-changing technology, Mag One aims to be the most environmentally friendly & sustainable producer of magnesium (Mg) metal, ultrapure Mg compounds, by-products and vertically integrated co-products. For further information or questions respecting the Company kindly contact the Company via email at: info@MagOneProducts.com. Additional information can be found on the Company’s website at www.MagOneProducts.com or by viewing the Company’s filings at www.sedar.com.
Forward-Looking Information
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