Nevada Clean Magnesium, ScanMag Engage in Positive Round of Talks

Nevada Clean Magnesium Inc. (TSXV:NVM) announced that last week’s meetings with Norway’s ScanMag AS were positive, also commenting that the companies are “still proceeding towards the proposed relationship of the parties.”

Shareholders of Nevada Clean Magnesium will be updated as the parties move closer to concluding the transaction.

As quoted in the press release:

ScanMag AS and NCM management discussed the private placement and the JV, and agreed to some amendments to the proposed terms.  ScaMag AS is currently awaiting the edits from NCM and will be forwarding the draft JV agreement to their legal department for review, as per Norwegian law.  NCM’s management believes that both parties are working 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. Further, as a result of our discussions, the Company is assisting ScanMag AS with certain technical aspects of ScanMag’s own project.

Click here to read the full Nevada Clean Magnesium Intc. (TSXV:NVM) press release.