(via TheNewswire)
Vancouver, B.C., Canada - TheNewswire -June 11, 2020, - Mag One Products Inc. (CSE:MDD) (CNSX:MDD.CN)(Frankfurt:3O4)(OTC:MGPRF) (the "Company" or "MOPI") is pleased to announce that it has signed a non-binding letter of intent ("LOI") to lease a bottling / manufacturing facility from Naturo Group Investments (the "Lessor").
MOPI, through its partnership with VEMO, was able to secure the Naturo facility located in Bridesville, British Columbia.
The terms of the non-binding LOI will pay to the Lessor the amount of $5,000.00 CND on the first day of each month starting on the 1st day of July 2020.
This lease will terminate on the 31st day of July 31, 2023. Can be renewed 30 days before end of lease.
The term of the lease is 36 months and can be terminated if both parties mutually agree in writing with 60 days' notice.
The Vera Clean line consists of 2.5-liter bottles of concentrate which is shipped with empty spray bottles. This facility has a capacity to fill 20 x 2.5-liter bottles per minute. Running at full capacity, Mag One can bottle up to 28,800 bottles per day or 10,512,000 bottles per year based on demand and purchase orders. Mag One will also be able to "blow" and label its own bottles at the facility, thereby allowing an all-in-one shop for manufacturing, bottling and ready-to-ship finished products. Additionally, the Naturo facility provide up to 1000 sq/ft of storage for finished products.
Tony Louie, President and CEO of Mag One, said the following: "We are pleased to be working with VEMO to develop our Vera Clean business. Working with VEMO to secure this manufacturing facility is a major step in realizing the huge potential of our Vera Clean business. We want to bring to market this amazing plant based, eco-friendly and pet safe disinfectants and hand sanitizers to the consumers within our territories as soon as possible."
About Vera Clean
VERA produces safe, multi-purpose highly potent plant-based disinfectants, sanitizers, concentrates and other solution formulations with a unique paramagnetic efficacy that both cleans and starves bacteria from multiplying on surfaces
The Transformative Cleaning(R) power of VERA products cleans soiled and dirty surfaces, including fabrics, through its deep penetrating cleansing action that dissolves and purges soiling and contaminants.
Effective cleaning with VERA products offers 99.9% of hygiene requirements and is most suited in quelling the transmutation of bacteria into superbugs that host viruses, including coronaviruses, that have been increasingly occurring in today's world and environment
https://www.veraclean.com.au/
On behalf of the Board, "Tony Louie", President & CEO, Mag One Products Inc.
Neither the Canadian Securities Exchange nor CNSX Markets accepts responsibility for the adequacy or accuracy of this news release.
About Mag One Products Inc.
Mag One Products Inc. is a technology, processing & production company. Mag One Products aims to be the most environmentally friendly & sustainable producer of Industrial Products. For further information or questions respecting the Company kindly contact the Company via email at: info@MagOneProducts.com. Additional information can be found on the Company's website at www.MagOneProducts.com or by viewing the Company's filings at www.sedar.com.
Forward-Looking Information
Information set forth in this press release may involve forward-looking statements, including statements relating to reinstatement for trading on the CSE. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements. For further information on risk, investors are advised to see the Company's MD&A and other disclosure filings with the CSE regulators which are found at www.sedar.com.
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