RE:RE:RE:QUESTIONThank you. Surely another case as maybe this release. e Products Inc. is issuing the following press release to clarify its disclosure.
The following material change reports have been amended and filed on SEDAR with related material contracts where applicable:
- Mag One Products' offer to purchase MagPower Systems Inc. as announced on Nov. 23, 2016, and Sept. 19, 2017: The company clarified that the acquisition of MagPower has not been finalized to date. As such, MagPower is not yet its wholly owned subsidiary as stated in its news release dated Sept. 19, 2017, and is pending finalization. The company also filed the related material contract.
- Mag One Products closes financing as announced on May 19, 2016, and executes letter agreement with Equitorial Exploration Corp. for a right of first of refusal to enter into a joint venture with the company: The company corrected the investment amount disclosed from $1.5-million to $1.0-million.
Please refer to documents filed on SEDAR for further information.
Mag One Products is a company that aims to be a global leader in the magnesium (Mg) market by concentrating on four projects at its manufacturing plant sites in Southern Quebec, Canada:
- Production of high-purity magnesium oxide (MgO), silica, and other saleable co-products, byproducts and compounds;
- Production of 99.9-per-cent-pure-magnesium ingots;
- Magboard Products Inc.: assembly and sale of MgO-based, structural insulated sheathing panels and wallboards;
- MagPower's Mg-air fuel cell for scalable 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 already-mined, serpentinite tailings.
We seek Safe Harbor.
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