VANCOUVER, B.C. CANADA / TheNewswire / Tuesday, May 15, 2018. MAG ONE PRODUCTS INC., ("Mag One" or the "Company") is pleased to announce that the Company has entered into a Technology Agreement (the "Agreement") with Tech Magnesium (or "Tech Mag"). Tech Mag and its founder, Dr. Douglas Zuliani, possess several magnesium-related production technologies that Mag One is confident will bring new value to the Company and its shareholders, by helping to rapidly commercialize the production of Mg metal.
Tech Mag also possesses experience and proprietary knowledge of casting, extrusion, rolling and other wrought processing and fabrication methods for magnesium metal and alloys which will also be presented to Mag One. Under the Agreement, Tech Mag will also provide both technical and commercial support for Mag One's commercialization efforts.
Mag One's goal is to rapidly evaluate synergies that can be leveraged from Tech Mag that will help accelerate the Company's road to production and revenue generation. Dr. Zuliani has nearly forty years of experience in metals production and processes. From 1985 to 2001, he held a number of senior management positions with Timminco Ltd., the most recent being Vice President - Manufacturing and Technology. In this position, he had responsibilities for Timminco's magnesium and specialty metals facilities as well as for the company's R&D, market development and capital/engineering programs. Between 2007 and 2013, Dr. Zuliani collaborated with Gossan Resources on the development of the Zuliani Process. After completion of the Gossan contract, Dr. Zuliani subsequently brought the Process and the other technologies back under the Tech Mag umbrella.
Gillian Holcroft, President of Mag One said, "Dr. Zuliani's track record and experience makes him one of Canada's foremost experts in magnesium metal processing. With Mag One's vision of commercializing various magnesium-based products, we are hopeful that this Agreement will lead to a much longer-term relationship to the mutual benefits of Tech Mag, of Mag One and of Mag One's shareholders. The Tech Magnesium Process combined with Mag One's approach to high purity MgO production has the potential to be one of the most cost-effective, lowest carbon footprint magnesium production technologies in the world."
Dr. Douglas Zuliani, President and Founder of Tech Magnesium said, "I applaud Mag One's vision to commercialize products from serpentinite mine tailings. Environmentally-sustainable processes are a cornerstone of Tech Magnesium's suite of technologies and capabilities. I look forward to working with the Mag One team in determining an optimum path forward for becoming a low cost North American Mg metal producer."
Mag One Products Inc. is a company that aims to be a global leader in the magnesium (Mg) market by concentrating on four projects at its manufacturing plant sites in southern Quebec, Canada.
I.Production of high -purity MgO, Silica and other saleable co-products, by-products and compounds.
II.Mag One Metal: Production of 99.9% pure Mg ingots.
III.Magboard Products Inc.: Assembly and sale of Mg-based structural panels for construction
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, B.Sc., B.Ap.Sc., P.Eng.", CEO & Chairman Further information, contact: Accounts@MagOneProducts.com
Mag One is listed on the CSE with the symbol, "MDD", the Borse 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.