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Mag One (CSE: MDD) Developing a small scale 18,000 tonne per annum facility

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Mag One Products is moving forward to develop a small scale, 18,000 tonne per annum facility to process magnesium ore.

Additional Information:

Company: Mag One Products
Website: http:// www.MagOneProducts.com
Stock Symbol: CSE: MDD
Date Published: Dec 15, 2016
Transcript: Available

Video Transcript:

I’m Bethany Rae for Investmentpitch Media

Mag One Products (CSE:MDD) (OTCQB:MgPRF) (FSE & Xetra:304) is moving forward to develop a small scale, 18,000 tonne per annum facility to process magnesium ore.

The company has secured 50 million tonnes of already mined, ongrade tailings, which on average, contain 22% magnesium or 11 million tonnes of magnesium metal after processing.

The tailings are located at Danville, Quebec, and are available to Mag One at $1.00 per tonne as required.

The Province of Quebec is fully supporting this Phase One pilot project, and has confirmed initial funding of $495,000.

The company has already selected a site near the tailings and equipment selection, procurement and construction is expected to start immediately.

Nelson Skalbania, Chairman of Mag One, stated: “Our technical advisors have determined that a pilot plant is required to fully explore the market, financial benefits and commercial viability of producing a range of magnesia, ("MgO") and other products from the tailings. For Mag One, an added benefit is the ability to convert most the content of its 50-million tonnes of tailings into saleable products which will minimize the requirement for ongoing waste management at the site in Quebec, Canada and underpins our goal to be a green producer of magnesium metal, magnesium compounds and related byproducts.”

The company recently announced an offer to acquire 100% of the shares and assets of privately owned MagPower Systems (www.MagPowerSystems.com), a world-leading Magnesium Air Fuel Cell technology company.

This technology combines magnesium, saltwater and air to generate a powerful, reliable and environmentally friendly, non-toxic alternative power source of electricity.

Through the company’s subsidiary, Mag One Operations, the company has a joint venture with MagBoard LLC, to launch Magboard Products Inc., which is developing an assembly plant adjacent to Mag One’s stockpile of tailings, to commence assembling ROK-ON™ Structural Insulated Sheathing.

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.

The company has also announced a non-brokered private placement of up to 5 million units at $0.70 per unit to raise up to $3.5 million.

Each unit consists of one share and one full warrant, with each warrant exercisable at $1.40 for one year.

The shares are trading at $0.94, and with 34.3 million shares outstanding, the company is capitalized at $32.2 million.

For more information about MAG ONE, please visit the company’s website www.MagOneProducts.com, call 604-669-4771 or email ir@MagOneProducts.com.
I’m Bethany Rae for Investmentpitch Media

I’m Bethany for Investmentpitch Media