Western Magnesium Corporation Announces Stock Option Grant
NEW YORK, November 5, 2019 - Western Magnesium Corp. (TSXV:WMG) (Frankfurt:M1V) (OTC:MLYF) ("Western Magnesium" or the "Company") today announced that it has granted 800,000 incentive stock options pursuant to its Stock Option Plan for its directors, officers, advisors and consultants. The options are exercisable at a price of $0.15 per share for a five-year term. Any shares issued on the exercise of these stock options will be subject to a four-month holding period from the date of the grant. This stock option grant is subject to approval by the TSX Venture Exchange.
About Western Magnesium
Western Magnesium's goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs relative to current methods and processes, while being environmentally friendly.
| Company Contact John Ulmer julmer@westmagcorp.com 778-994-6453 | Media Contact Katie Kennedy katiek@gregoryfca.com 610-228-2128 |
Forward-Looking Statements
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 the Company's vision of how Western Magnesium can become the world's foremost producer of low-cost, green magnesium metal; the intended use of proceeds raised; the intention to, and benefits of, using a continuous silicothermic process to produce magnesium; the terms, pricing and number of Units issued, and the acceptance of the TSX Venture Exchange of each tranche of Units. 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, we may not receive the acceptance of the TSX Venture Exchange for one or more tranches of Units, we may not be able to close a tranche of Units because of market conditions and other 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.
For additional information please visit our website at http://www.westmagcorp.com or view our profile on SEDAR