MGX Minerals Inc. (CSE:XMG / FKT: 1MG / OTC: MGXMF) announces that, as a result of a review by the IIROC, the Company is issuing the following press release to retract and clarify disclosure pertaining to an article featuring MGX entitled “MGX Minerals Issues $1 Billion Dollar Life-of-Mine PEA for a World-Class Magnesium Project in British Columbia” which appeared on the website Stockhouse.com on March 6, 2017. The title of the article is overly promotional and misleading and is not in any way intended as, nor should be confused with, technical disclosure.
The Company wishes to retract the title of the article and any information that states or suggests “MGX Minerals Issues $1 Billion Dollar Life-of-Mine PEA for a World-Class Magnesium Project in British Columbia” as the Net Present Value of the project, as disclosed by the Company in a press release dated March 6, 2017 entitled “MGX Minerals Announces Positive PEA for Driftwood Creek Magnesium; Pre-Tax NPV of C$529.8 Million and 24.5% IRR” does not support the title of the article which appeared on Stockhouse.com.
The title disclosed in the Stockhouse.com article does not meet the scientific and technical disclosure requirements of Canadian securities legislation including National Instrument 43-101 and was not prepared by or approved by a Qualified Person and should not be relied upon.
The technical portions of this press release were reviewed by Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument 43-101 Standards.
About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America. Learn more at www.mgxminerals.com.
President and CEO
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company’s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company’s profile on SEDAR at www.sedar.com.