(via TheNewswire)
VANCOUVER, BRITISH COLUMBIA / TheNewswire / May 2, 2019 - Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTCQB: MLYFF) (the "Company") today announced that it is amending the terms of its previously announced plan of arrangement, pursuant to which the Company will be discontinued from the jurisdiction of the Business Corporations Act (British Columbia) and domesticated under the General Corporation Law of the State of Delaware under the name "Western Magnesium Corporation" (the "Plan of Arrangement"). In particular, the Certificate of Incorporation of the Company to be filed with the Secretary of the State of Delaware is being amended such that the common shares in the authorized share structure of the Company will have a par value of $0.001 rather than no par value. This change is being effected to provide monetary savings to the Company associated with certain corporate filing fees in the United States.
For further information regarding the Plan of Arrangement, please refer to the Company's management information circular dated April 5, 2019, which is available on the Company SEDAR profile at www.sedar.com.
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 the Company's plans to discontinue from the jurisdiction of the Business Corporations Act (British Columbia) and domesticate under the General Corporation Law of the State of Delaware under the name "Western Magnesium Corporation" pursuant to the Plan of Arrangement, and the par value of the Company's common shares. 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 at (778) 994-6453
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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