Tickers: PINX:MLYFF, XTSX:NVM
VANCOUVER, BRITISH COLUMBIA / TheNewswire / August 10, 2018 - Nevada Clean Magnesium, Inc. (TSX-V:NVM; Frankfurt-M1V; OTCQB:MLYFF) (the "Company") today announced that all resolutions were passed by the requisite majority at its annual general meeting held in Vancouver, British Columbia, on August 8 2018.
Shareholders voted in favour of all matters brought before them at the meeting, including the re-election of Edward Lee, James Sever, Steve Thorlakson, Robert Brown, Jeff Wilson, Dennis Mee, Aaron Palumbo and Boris Chubukov to the Board of Directors. In addition to the Board members being re-elected, Dale Matheson Carr-Hill Labonte LLP was re-appointed as auditors of the Company, and the Company's stock option plan was approved by the shareholders.
The Board of Directors have confirmed Edward Lee as the Company's President & Chief Executive Officer, Aaron Palumbo as Executive Vice-President, James Sever as Chief Operating Officer, Dennis Mee as Chief Financial Officer, and Lisa Maxwell as Corporate Secretary. The Board also confirmed director appointments to the Audit, Compensation and Corporate Governance Committees.
About Nevada Clean Magnesium, Inc.
Nevada Clean Magnesium is focused on becoming a major U.S. producer and distributor of primary, high grade, low cost magnesium metal extracted from its 100% owned Tami-Mosi property located in North Central Nevada. Based on the Company's NI 43-101 Preliminary Economic Assessment Report published in September 2011 and amended in July 2014, the Tami-Mosi Project has an inferred resource of 412 million tonnes with an average grade of 12.3% Mg for a contained metal content of 111 billion pounds of magnesium using a 12% cut-off grade contained within a high purity dolomite block. For more information, please visit www.nevadacmi.com.
The technical portion of this press release was prepared under the supervision and review of James Sever, P. Eng., and COO for Nevada Clean Magnesium. Mr. Sever is a non-independent qualified person within the meaning of National Instrument 43-101 standards.
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 can become a major U.S. producer and distributor of primary, high grade, low cost magnesium metal; that we will be able to close on our agreements with BBT; and that we can develop a clean, commercially viable, cost-effective process for the production of magnesium from dolomite, and the opportunity to commercialize and start sales. Actual results may differ materially from those currently anticipated due to a number of factors, including that the TSXV may not approve the agreement, the Company's dolomite resource may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic, the Process may not be able to be commercially developed, none of our processes may result in cost-effective magnesium production, we may not be able to protect our intellectual property and keep out competition, we may not be able hire and retain skilled employees, no market for our process may develop from other resource owners, and other general risks associated with being a mineral exploration and development company. 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.
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.
To Reach Nevada Clean Magnesium Please Contact:
Edward Lee, CEO at (604) 210-9862
For additional information please visit our website at
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