NEW YORK, NY / TheNewswire / May 23, 2019 - Western Magnesium Corporation (TSXV:WMG; Frankfurt-M1V; OTCQB: MLYF) (the "Company" or "Western Magnesium") today announced that it has granted 10,000,000 incentive stock options pursuant to to its Stock Option Plan for its directors, officers, advisors and consultants. The options are exercisable at a price of $0.12 per share for a five-year term.
Any shares issued on the exercise of these stock options will be subject to a four-month plus one day hold period from the date of the grant. This stock option grant is subject to approval by the TSX Venture Exchange.
About Western Magnesium
Western Magnesium's goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and lightweight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce pure magnesium, which significantly reduces labour and energy costs relative to current methods and processes.
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 will conduct and close a private placement and that we can become a a major U.S. producer and distributor of primary, high grade, low cost magnesium metal. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company's dolomite reserves may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic, we may not be able hire and retain skilled employees, and other risks associated with being a mineral exploration and development company. We may not be able to close with interested investors on our intended private placement because of perceived risks or market conditions. 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.