MGX Minerals to Acquire Cranbrook Mill From Tembec for $3.7M

MGX Minerals (CSE:XMG) announced it has entered into a definitive agreement with Tembec Inc. to acquire the Cranbrook mill site in Cranbrook, B.C., for $3.7-million.
As quoted in the press release:

The Cranbrook mill complex spans 38 hectares (98 acres) located within the Cranbrook industrial park. Major infrastructure, including buildings and a wood processing plant, remains on site. The site is a large, fully serviced industrial location with natural gas, water, power and rail access. The company plans to use the location for the processing of industrial minerals, including ore from the company’s Driftwood Creek magnesium deposit.

Cranbrook Mayor Lee Pratt stated:

This is exciting news for the city and surrounding region, MGX Minerals will be a great fit in Cranbrook, helping diversify our industrial sector, one of our key economic priorities, and creating new employment opportunities. There are strong synergies between MGX and the community, and I look forward to working with MGX as they advance their development.

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