MGX Minerals Acquires Purlucid Treatment Solutions Inc.- Solves Major Hurdle to Oil Well Lithium Brine Separation Process

VANCOUVER, BRITISH COLUMBIA / TheNewswire / September 15, 2016 / MGX Minerals (CSE:XMG) is pleased to announce the Company has entered into a binding Letter of Intent (the “LOI”) to acquire an initial 50% interest in PurLucid Treatment Solution (Canada) Inc. (“PurLucid” or collectively the “Parties”) in exchange for a $5 million (CDN) staged investment over two years and the right to acquire a 100% interest for an additional investment of $10 million (CDN). PurLucid has exclusive licensing to, assisted in development of, and deployed proprietary and patented technology that separates oil, to a high degree of purity, from lithium bearing brine, removing one of the major hurdles of oil field lithium brine production. Up until now the presence of hydrocarbons in lithium brine presented a potentially significant long term hurdle to efficient large scale production of lithium from oil field brine. PurLucid brings world class experience in oil field brine treatment engineering and will oversee the integration and commercialization of an integrated oil separation and lithium extraction plant.
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