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Mag One (CSE: MDD) is creating a new company to develop a product assembly plant in Quebec

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Through the company’s subsidiary Mag One Operations, the company has revised its JV Agreement with MagBoard LLC, whereby the participants are launching Magboard Products Inc.

Additional Information:

Company: Mag One Products Inc
Website: http://www.magoneproducts.com
Stock Symbol: MDD
Date Published: Aug 24, 2016
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Mag One Products is creating a new company to develop a product assembly plant in Quebec. Through the company’s subsidiary Mag One Operations, the company has revised its JV Agreement with MagBoard LLC, whereby the participants are launching Magboard Products Inc.

Magboard Products Inc. will develop an assembly plant in Quebec, adjacent to MAG One’s huge stockpile of magnesium ore tailings, to commence assembling ROK-ON™ Structural Insulated Sheathing inventory by December 2016.

Building codes are being tightened throughout North America, requiring increased energy and fire performance in construction.

These changes are adding significant cost to construction, with the U.S. wallboard market estimated at 21.5 billion square feet in 2015.

MagBoard’s ROK-ON™ magnesium-based structural insulated wall systems are fire, rot, termite, mold and impact resistant.

As these systems substantially reduce the number of layers commonly used in construction, builders can reduce installation costs as it reduces installation time versus conventional plywood, gyproc/drywall, or other options.

Since finishes can be directly applied to ROK-ON™, these products are ideally suited to prefabrication, a trend gaining substantial momentum on construction.

Mag One is concurrently concentrating its efforts on the production of magnesium oxide and other magnesium compounds and by-products as a precursor to its processing and production of ultrapure magnesium metal.

In the future, when Mag One has produced a surplus of magnesium oxide, this material can be used by Magboard Products Inc. to produce its own proprietary structural insulated sheathing and other complimentary green building products in Quebec.

Mag One Products, with its game changing processing technology and modular processing plant concept aims to be the diamond standard in the magnesium market.

Nelson Skalbania, Chairman of Mag One, stated: “Mag One has secured 50 million tonnes of tailings, containing an average of 22% magnesium content or 11 million tonnes of magnesium metal, at its Danville site, which is sufficient for 100 years of production, at the targeted production level. Furthermore, the company will only pay $1.00 a tonne for this ore as it is used.”

The company is currently raising gross proceeds of up to $550,000 through the issuance of units priced at $1.00 per unit.

Each unit contains one share and one full warrant, with the warrant exercisable at $1.10 for 2 years.

The shares are trading at $1.00, and with less than 35 million shares outstanding on a fully diluted basis, the company is capitalized at approximately $35 million.

For more information about MAG ONE, please visit the company’s website www.MagOneProducts.com, call 604-669-4771 or email info@MagOneProducts.com

I’m Samantha Deutscher for Investmentpitch Media