9-28-17 9:09 AM EDT | Email Article

(TheNewswire)

 

VANCOUVER, B.C. / TheNewswire / 28 September 2017 - MAG ONE PRODUCTS INC., (“Mag One” or the “Company”) has Closed the Second Tranche of its Private Placement financing.

 

To date, a total of 7,775,000 units have been subscribed for, resulting in a grand total (for the two tranches)

of $1,555,000. raised.

 

As mentioned in the last Press Release, the First Tranche Closed on 14 September 2017 with 4,869,060 units resulting in net proceeds of $973,812. This Second Tranche 2,905,940 units resulted in net proceeds of $581,188.00.  Both tranches were at $0.20/unit and each unit includes a full warrant to purchase a common share at $0.50 with a two-year expiration date.  Securities issued as a result of this Financing are subject to a statutory hold period and may be subject to CSE approval.  

 

The funds will be used to further advance Mag One’s high purity magnesia and silica Pilot Plant as well as engaging key staff to further the commercialization of the Magboard Products Inc., assembly facility in Eastern Canada.

Mag One Products Inc . is a company that aims to be the diamond standard in the magnesium (Mg) market by concentrating on four projects at its manufacturing plant site in southern Québec, Canada.

  1. I. Production of high-purity MgO, Silica and other saleable co-products, byproducts and compounds.  

  2. II. Production of 99.9% pure Mg ingots. 

  3. III. Assembly and sale of magnesium oxide-based structural insulated sheathing panels. 

  4. IV. MagPower’s Mg-Air Fuel Cell for emergency power on sea and land. 

Key advantages that these four projects share are Mag One’s advanced technologies, a modular processing plant expansion concept, and the Company’s easy access to tonnes of serpentinite tailings.

 

Signed: “Nelson M. Skalbania”

CEO & Chairman

www.MagOneProducts.com

For further information or questions kindly contact the Company via email: info@MagOneProducts.com

Mag One is listed on the CSE with the symbol, “MDD”, the Börse Frankfurt stock exchange (“Frankfurt”) with the ticker symbol “304” and the OTCQB with ticker symbol "MGPRF”. Certain statements contained in this release may constitute "forward–looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. This release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. This news release does not constitute an offer of securities for sale in the United States. The Frankfurt Boerse, OTQ Markets Group Inc., CSE, or CNSX Markets have not reviewed this news release and does not accept responsibility for the adequacy or accuracy of the content of this news release. Issuers of news releases. are solely responsible for the accuracy of such news releases. For further information on risk, investors are advised to see the Companies MD&A and other disclosure filings with the CSE regulators which are found at www.sedar.com.

 

Copyright (c) 2017 TheNewswire - All rights reserved.

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