Vancouver, British Columbia--(Newsfile Corp. - June 9, 2015) - MAG ONE Products (CSE: MDD) is one of the latest new listings on the Canadian Securities Exchange, having formerly traded as Acana Capital (CSE: APB).
InvestmentPitch.com has produced a "video news alert" which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Mag One" in the search box.
Through its wholly-owned subsidiary, MAG ONE Operations, the company acquired North American Magnesium Products LLC, headed by James Blencoe, Ph.D., who has joined the Board of Directors of MAG ONE Products as COO. Dr. Blencoe is the developer of proprietary technology for the production of magnesium metal and compounds.
With this new, potentially disruptive technology, MAG ONE anticipates becoming the world's lowest cost producer of 99.9% pure magnesium metal ingots and ultra-pure magnesium compounds.
Unlike most acquisitions involving large upfront costs, this technology was acquired based entirely on future operating profits. The company will issue one common share for each $1.00 of operating profits to a maximum of 40 million shares.
Through another wholly owned subsidiary, MAG ONE has gained access to 30 million tonnes of magnesium ore at a price of $1.50 per tonne. This ore, which is sitting on the surface in Quebec, Canada, contains approximately 23% magnesium, and is sufficient for 70 years of production of magnesium metal at the target capacity of 100,000 tonnes annually.
Nelson Skalbania has also joined MAG ONE's Board of Directors. Although Mr. Skalbania has been extremely successful in a wide range of businesses ranging from real estate to sports teams, to many of us he is famous for signing a 17 year old Wayne Gretzky to a personal services contract.
There are many exciting new developing markets for the metal, particularly in the automotive industry where magnesium could reduce the weight of a vehicle by 15% or 500 lbs. For more information about the supply and demand and future uses of magnesium, there is an informational video on InvestmentPitch.com (click here), or enter "magnesium" in the search box.
The company's new website www.magoneproducts.com, will be launched shortly.
The shares are trading at $0.85.
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