VANCOUVER, British Columbia, Sept. 27, 2017 (GLOBE NEWSWIRE) — MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (FKT:1MG) (OTCQB:MGXMF) is pleased to report it has been approved to uplist its common stock to the OTCQB® Marketplace effective September 27, 2017. The Company’s “MGXMF” trading symbol in the United States will remain unchanged. There is no action required by current shareholders as a result of this change.
MGX operates advanced materials projects across North America. The Company controls two million acres of lithium brine mineral claims and has developed a proprietary, low-energy process that extracts and concentrates minerals such as lithium and magnesium petrolithium (oilfield brine) and naturally occurring salt brine sources while also treating the associated wastewater to produce clean water. This technology has global applications for lithium extraction and clean water. MGX and engineering partner Purlucid Treatment Solutions are currently operating a one cubic meter per hour test plant for bulk sample testing and optimization that was commissioned in July 2017. A five-cubic meter per hour commercial plant (750 barrels of water per day) is near completion and fabrication of fifty cubic meter per hour (7500 bwpd) system has commenced. The process eliminates the time consuming solar evaporation step of traditional lithium extraction from brine using low energy, low cost nano-filtration. The Company has recently taken bulk samples from eight sites, six oil and two mining, which are targeted for high priority evaluation and deployment. MGX is also currently advancing multiple mineral projects, including the Driftwood Creek magnesium deposit in southeastern British Columbia.
The OTCQB® Venture Market, operated by the OTC Markets Group Inc., offers transparent trading in entrepreneurial and development stage companies that have met a minimum bid price test, are current in their financial reporting and have undergone an annual verification and management certification process. These standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for MGX at http://www.otcmarkets.com/stock/MGXMF/quote.
The Company’s common shares will also continue to trade under the symbol “XMG” on the Canadian Securities Exchange.
About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in lithium, magnesium and silicon assets throughout North America. Learn more at www.mgxminerals.com.
Contact Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements including the completion of the rights offering (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company’s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company’s profile on SEDAR at www.sedar.com.
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