TSXV:WMG.H - Post by User
Post by
MagInvestor19on Dec 30, 2022 7:59pm
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Post# 35198006
US Dept of Treasury - Prohibits WMC from Selling to US Gov
US Dept of Treasury - Prohibits WMC from Selling to US GovOh No!!! Really bad news for Western Magnesium. It would appear due to all the foreign investiment by Alpha Capital and WMC being a foreign company they cannot sell mag in the united states if they wanted too and prohibit any US Gov Contracts.
WOW
CFIUS Laws and Guidance
CFIUS operates pursuant to section 721 of the Defense Production Act of 1950, as amended (section 721), and as implemented by Executive Order 11858, as amended, and the regulations at chapter VIII of title 31 of the Code of Federal Regulations.
CFIUS legislation, regulations, executive orders, guidance, and other policy documents can be found below.
CFIUS LEGISLATION
The authority of the President to suspend or prohibit certain transactions was initially provided by the addition of section 721 to the Defense Production Act of 1950 by a 1988 amendment commonly known as the Exon-Florio amendment. Section 721 was substantially revised by the Foreign Investment and National Security Act of 2007 (FINSA), which became effective October 24, 2007, and the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which became effective August 13, 2018. Section 721 of the Defense Production Act of 1950, as amended, is codified at 50 U.S.C. 4565.