Tickers: PINX:MLYFF, XTSX:NVM
VANCOUVER, BRITISH COLUMBIA / TheNewswire / June 27, 2018 - Nevada Clean Magnesium, Inc. (TSX-V:NVM; Frankfurt-M1V; OTCQB:MLYFF) (the "Company" or "NCM") ), is pleased to announce that, subject to regulatory approval, it has retained Mackie Research Capital Corporation to initiate its market making service to provide market making services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation.
Mackie will trade shares of NCM on the TSXV for the purposes of maintaining a reasonable market and improving the liquidity of NCM's common shares. The agreement between Mackie and the Company is for a three month renewable term and the Company has agreed to pay Mackie $3,500 per month during the term. After the first term, the engagement may be terminated by either party with written notice. The Company and Mackie act at arm's length, but Mackie may provide investment banking services to NCM and Mackie and/or its clients may have an interest, directly or indirectly, in the securities of NCM. The agreement is principally for the purposes of maintaining market stability and liquidity for the Company's common shares and is not a formal market making agreement. There are no performance factors contained in the agreement between Mackie and the Company and Mackie will not receive any shares or options from the Company as compensation for services it will render.
About Mackie Research Capital Corporation
Mackie is one of Canada's largest independent full service investment firms, and proudly traces its roots back to 1921. Mackie is privately owned by many of its 300 employees. As a fully integrated national investment dealer, Mackie offers a full complement of capital markets and wealth management services to private clients, institutions and growth companies.
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.
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