CMC Metals Leases Silver Hart Flotation Plant to MGX Minerals
Vancouver, B.C. / TheNewswire / July 19, 2016 - CMC Metals Ltd. (the "Company") is pleased to announce that it has signed an agreement to lease its portable Flotation Plant used at the Silver Hart project, Yukon (the "Plant"), to MGX Minerals Inc. ("MGX") for a maximum of 6 months. MGX will transport the Flotation Plant at its own cost to Cranbrook, BC to conduct a bulk sample at its Driftwood Creek magnesium project and will pay all costs to make the Plant operational. As compensation for the use of the Plant, MGX will issue to the Company 300,000 common shares. Upon completion of the term of the lease, the Plant will be shipped to the Company's operations in California, USA.
The Company further wishes to announce that it conducted it's Annual General Meeting on July 7, 2016 whereat each of Michael C. Scholz, Jack Bal, John Bossio, Robert Wheeler, Carl Von Einsiedel, Azim Virani and Ian Graham were elected to act as Directors of the Company by its Shareholders for the ensuing year.
The Company further wishes to announce that Ian Graham has been appointed the President and Chief Operating Officer of the Company. In addition, Michael C. Scholz, John Bossio and Azim Virani have been appointed as members of the Audit Committee for the Company.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
On behalf of the Board:
"Michael C. Scholz" __
Michael C. Scholz, Director
For further information on the Company, please contact Mr. Jack Bal, CEO, Telephone: 604-306-5285 jackbalyvr@gmail.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
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