Revised: Nevada Clean Magnesium Travels to London at the Request of ScanMag AS
26 Février 2014 - 5:41PM
Access Wire
VANCOUVER, BRITISH COLUMBIA
- (AccessWire) - February 26,
2014 - Nevada
Clean Magnesium, Inc. (TSXV: NVM;
Frankfurt-M1V; OTC Pink Sheets: MLYFF) ("NCM" or the "Company")
wishes to report that ScanMag AS has requested a meeting in London
to further discuss and develop the proposed relationship of the
parties, including the private placement and Joint Venture ("JV")
agreement.
The Board of
Directors previously approved an extension to
ScanMag AS as announced February 3, 2014, in order for their
management to have ample time to address any outstanding issues
regarding the JV. NCM's management is attending in good faith to
resolve any outstanding issues regarding the JV, as per the Binding
Letter of Agreement, that was signed by both parties and announced
on October 15, 2013.
The
Company is looking forward to a conclusion of
the announced transactions and will update the Shareholders of the
outcome upon their return.
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 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 late 2011, 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.
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 statements about the closing a joint venture and
private placement, and that our company is focused on becoming a
major magnesium producer.
Actual results may differ materially from
those currently anticipated due to a number of factors, including
that we may not be able to agree on final terms with ScanMag, that
the Company's dolomite reserves may not mined because of technical,
regulatory, financing or other obstacles, the market price for
magnesium may make our resources uneconomic, and other risks
associated with being a mineral exploration and development
company. These forward-looking statements are made as of the date
of this news release and, except as required by applicable laws,
the Company assumes no obligation to update these forward-looking
statements, or to update the reasons why actual results differed
from those projected in the forward-looking statements.
CONTACT
INFORMATION:
Hanover|Elite
Kathy Addison, Chief
Operating Officer
Phone: 407-585-1080
Email: NVM@hanoverelite.com
Nevada Clean Magnesium Inc. (TSXV:NVM)
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