Tickers: PINX:MLYFF, XTSX:NVM
VANCOUVER, BRITISH COLUMBIA / TheNewswire / August 10, 2017 - Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTCQB Pink Sheets: MLYFF) (The "Company") today announced the results from the Company's 2016 Annual General Meeting (AGM) that was held on August 8th in Vancouver, BC. Shareholders voted in favour of all matters brought before them at the meeting, including the re-election of Edward Lee, James Sever, Steve Thorlakson, Robert Brown, Jeff Wilson, Aaron Palumbo, Scott Rowe and Boris Chubukov to the Board of Directors. In addition to the Board members being re-elected, Dale Matheson Carr-Hill Labonte LLP was re-appointed as auditors of the Company, and the Company's stock option plan was approved by the shareholders.
The Board of Directors have confirmed Edward Lee as the Company's President & Chief Executive Officer, Aaron Palumbo as Executive Vice-President, James Sever as Chief Operating Officer, Stephen Thorlakson as Chief Financial Officer, and Lisa Maxwell as Corporate Secretary. The Board also confirmed director appointments to the Audit, Compensation and Corporate Governance Committees.
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.
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 will conduct and close a private placement and 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 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.
To Reach Nevada Clean Magnesium Please Contact:
Edward Lee, CEO at (604) 210-9862
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