(TheNewswire)
VANCOUVER, BRITISH COLUMBIA / TheNewswire / December 5, 2018
– Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (the “Company”) announced that the sublicensing and services
agreements between Big Blue Technologies (BBT) and the Company have been mutually terminated.
The Company continues to develop its advanced Silicathermic unit, but has also been exploring new methodologies
for the production of Magensium metal. On July 9th , 2018, the Company had entered into an
agreement with BBT to explore the carbothermic process. The Company has since determined that it will not be pursuing the
production of Magnesium metal through the carbothermic process.
The Company has ended its Assignment and Assumptions, Sublicense & Services, and Joint Services Agreements with
Big Blue Technologies and has accepted the resignation of Dr. Aarron Palumbo and Dr. Boris Chubukov from the Board of
Directors.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that
are subject to risks and uncertainties. Forward?looking statements in this
news release include that we will conduct and close a private placement and that we can become a major U.S. producer and
distributor of primary, high grade, low cost magnesium metal. Actual results may differ materially from those currently anticipated
due to a number of factors, including the Company’s dolomite reserves may not be mined because of technical, regulatory, financing
or other obstacles, the market price for magnesium may make our resources uneconomic, we may not be able hire and retain skilled
employees, and other risks associated with being a mineral exploration and development company. We may not be able to close with
interested investors on our intended private placement because of perceived risks or market conditions. The Company undertakes no
obligation to update forward?looking information except as required by law. The
reader is cautioned not to place undue reliance on forward?looking statements.
These forward-looking statements are made as of the date of this news release.
To Reach Nevada Clean Magnesium Please Contact:
John Ulmer, Investor Relations at (604) 210-9862
For additional information please visit our website at http://www.nevadacmi.com or view our profile at http://www.sedar.com.
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