Tickers: PINX:MLYFF, XTSX:NVM
VANCOUVER, BRITISH COLUMBIA / TheNewswire / April 5, 2018 - Nevada Clean Magnesium, Inc. (TSXV:NVM; Frankfurt-M1V; OTCQB:MLYFF) (the "Company") is pleased to announce that it has been assigned the Legal Entity Identifier ("LEI") number 5299003VFP3QJ9OPZ945 through registration with WM Datenservice. The European Union has adopted regulations that require use of the LEI as a barcode equivalent aimed at reducing risks to investors.
About the Legal Entity Identifier
The Legal Entity Identifier (LEI) number is a 20-digit alphanumeric code. It is an internationally standardized and globally valid identifier for financial market participants. Its purpose is to clearly and unequivocally identify contracting parties (e.g., companies, banks, investment funds) and to fulfill certain reporting obligations to supervisory authorities. The global adoption of a unified legal entity identification system is expected to reduce costs for businesses, as well as the financial market as a whole, improve risk management and promote transparency in the financial markets.
The Deutsche Borse Group has stated that "the LEI will clearly assist the regulatory authorities in monitoring and analysing threats to the stability of the financial markets, (but) it can also be utilised by counterparties internally for risk management purposes."
According to the website of the Deutsche Borse Group, the LEI number will affect most aspects of the securities markets in Europe, including trading, clearing, settlement, custody, collateral and liquidity management, market data and indices. (For further information visit http://deutsche-boerse.com/dbg-en/regulation/regulatorytopics/legal-entity-identifier)
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., director and COO for Nevada Clean Magnesium . Mr. Sever is a non-independent qualified person within the meaning of National Instrument 43-101 standards.
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.
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 produced magnesium metal and implies that we can become 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 mineral exploration, furnace or company development. 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.
To Reach Nevada Clean Magnesium Please Contact:
Edward Lee, CEO at (604) 210-9862
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