Nevada Clean Magnesium, Inc. Amends Stock Option Grant
VANCOUVER, August 10, 2018 - Nevada Clean Magnesium, Inc. (TSX-V:NVM; Frankfurt-M1V; OTCQB:MLYFF) (the "Company") announces that, pursuant to Nevada Clean's Stock Option Plan and TSX Venture Exchange Policy 4.4, the Company has amended 4,010,000 incentive stock options previously granted to Directors, Officers, and consultants to the Company. The amendment is to extend the expiry date of the options from August 12, 2018 to August 11, 2023. Each incentive stock option is exercisable to acquire one common share of Nevada Clean at $0.05 per share. The Company confirms that shareholder approval is not required for this amendment. The amendment is subject to TSX Venture Exchange approval.
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.
Forward-Looking Statement
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.
To Reach Nevada Clean Magnesium Please Contact:
Edward Lee, CEO at (604) 210-9862
For additional information please visit our website at
http://www.nevadacmi.com or view our profile at http://www.sedar.com.
You may also follow us on Facebook, Twitter or LinkedIn.
Copyright (c) 2018 TheNewswire - All rights reserved.