logo-new-604

MGX Minerals Finalizes Acquisition of PurLucid Treatment Solutions Inc. – Becomes Full-Service Lithium Extraction and Water Treatment Option for O&G Developers

RSS
Facebook
Instagram

VANCOUVER, BRITISH COLUMBIA / May 2, 2017 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTC: MGXMF), a developer of lithium, magnesium and silicon projects using innovative processes to supply the new energy economy, today announced it has finalized an investment agreement for the purpose of staged acquisition of up to 100 percent interest in PurLucid Treatment Solutions Inc. (“PurLucid”), a water and wastewater treatment technology company.
The announcement marks the finalization of investment agreement, intellectual property, and performance agreements including exclusive licensing of all rapid lithium extraction technology to MGX Minerals. The acquisition process initiated in September 2016, through which MGX is initially acquiring 26.6% of PurLucid for $1 million (CDN) investment and is choosing to exercise its option of acquiring an additional 7.5% through the issuance of 1.5 million shares to PurLucid shareholders. MGX has fully integrated its lithium brine extraction technology with PurLucid’s water purification process to become a full-service water treatment option for oil and gas exploration and companies.
“As activity within the oil and gas industry continues to pick up in North America, the cost of wastewater treatment and disposal options is a growing concern for oil and gas developers,” said Jared Lazerson, president and CEO of MGX Minerals. “This new technology enables oil and gas providers to treat their wastewater with a highly effective, low energy solution which replaces conventional methods such as disposal wells using the brine water as the primary feedstock for our petrolithium extraction process. Under these conditions, our investment in and acquisition of PurLucid is an efficient way to combine the development of valuable minerals with wastewater management for the upstream oil and gas industry.”
PurLucid’s patented nanoflotation technology, which was recently recognized as a finalist for the prestigious international Katerva Award, was designed specifically for oilfield environments by professionals with experience at large oil and gas service companies. It separates impurities from oil and gas wastewater and produces clean water as a final product. The technology allows for the recycling or controlled release of oilfield wastewater and eliminates downhole or alternative storage, one of the largest operating costs for the oil and gas industry today.
“During my 23 years of experience in water management in the oil and gas industry I’ve seen great need for a full-service water treatment option that’s both efficient and cost effective,” said Dr. Preston McEachern, founder and CEO of PurLucid Treatment Solutions Inc. “This investment by MGX allows us to expand the reach of our technology and bring accelerated water purification to more oil and gas fields across North America.”
PurLucid’s technology will integrate with MGX’s rapid lithium extraction process to separate oil, to a high degree of purity, from lithium-bearing brine, allowing for more efficient large scale recovery of lithium and other valuable minerals from oilfield brine.
Last year, MGX and PurLucid entered into a definitive agreement (the “Agreement”) which allows the Company to acquire up to 100 percent of PurLucid (see press release dated November 14, 2016). MGX’s initial 50 percent interest in PurLucid is to be acquired through an investment of $4.2 million (CDN) and an additional 15% of PurLucid by issuing MGX shares to PurLucid shareholders in exchange for their shares with a right to acquire all other remaining shares at future date.
Qualified Person
The technical portions of this press release were prepared and 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 (N.I.) 43-101 Standards.
MGX may decide to advance its petrolithium projects into production without first establishing mineral resources supported by an independent technical report or completing a feasibility study. A production decision without the benefit of a technical report independently establishing mineral resources or reserves and any feasibility study demonstrating economic and technical viability creates increased uncertainty and heightens economic and technical risks of failure. Historically, such projects have a much higher risk of economic or technical failure.
About MGX Minerals
MGX Minerals is a diversified Canadian mining company engaged in the development of large-scale industrial mineral portfolios in western Canada and the United States. The Company operates lithium, magnesium and silicon projects throughout British Columbia and Alberta as well as petrolithium exploration in Utah.
Contact Information
Jared Lazerson
President & CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com
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.
Forward-Looking Statements
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”, “postulate” 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.
You are receiving this email because you have subscribed to receive news alerts from MGX Minerals. Our Mailing Address is 1080 Howe St., Suite 303, Vancouver, BC V6C 2T1.

Disclaimer

© 2010 Junior Gold Report and TechMoney360

Junior Gold Report and TechMoney360 Newsletter: Junior Gold Report’s and Tech Money 360’s Newsletter is published as a copyright publication of Junior Gold Report (JGR) and TechMoney360 (TM360).  No Guarantee as to Content:  Although JGR/TM360 attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. It may contain errors and you should not make any investment decisions based on what you have read on here. JGR/TM360, its associates, authors, and affiliates are not responsible for errors or omissions. By accessing the site and receiving this email, you accept and agree to be bound by and comply with the terms and conditions as set out herein. If you do not accept and agree to the terms you should not use the Junior Gold Report and TechMoney360 sites or accept this email. Consideration for Services: JGR/TM360, it’s editor, affiliates, associates, partners, family members, or contractors may have an interest or position in the featured companies, as well as sponsored companies which compensate JGR/TM360 as such our opinions are biased. We may hold potions in and trade these stocks of the companies we profile and as such our opinions are biased. JGR/TM360 and its’ owner and affiliates/associates may buy/sell and trade the featured companies from time to time. JGR/TM360 has been paid by the companies. Thus, multiple conflicts of interest exist. Therefore, information provided here within should not be construed as a financial analysis but rather as an advertisement. Conduct your own due diligence: The author’s views and opinions regarding the companies featured in report(s) are his/her own views and are based on information that he/she has researched independently and has received, which the author assumes to be reliable. You should never base any buying/selling/trading decisions off of our emails, newsletter, website, videos or any of our published materials. JGR/TM360 aims to provide information and often stock ideas but are by no means recommendations. The ideas and companies featured are highly speculative and you could lose your entire investment – consult a licensed financial advisor if you are considering investing in any of the featured companies. Subscribers/readers are encouraged to conduct their own research and due diligence. The companies mentioned are high risk and considered penny stocks that contain a high risk of volatility, therefore consult your investment advisor and do your own due diligence before purchasing. Never base any investment decision on information contained from our emails, newsletter, website, videos or any of our published materials. No Offer to Sell Securities: JGR/TM360 is not a registered broker dealer, investment advisor, financial analyst, stock picker, investment banker or other investment professional. JGR/TM360 is intended for informational, educational and research purposes only. It is not to be considered as investment advice. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: JGR/TM360 may contain links to related websites for stock quotes, charts, etc. JGR/TM360 is not responsible for the content of or the privacy practices of these sites. Information contained herein was extracted from public filings, profiled company websites, and other publicly available sources deemed reliable. Information in this report was taken on or before writing and dissemination and may not be updated. Do you own due diligence as information and events can and do change. Published reports may reference company websites or link to company websites and we disclaim and responsibility for the content and accuracy of any such information or website. Release of Liability: By reading and/or watching videos by JGR/TM360, you agree to hold JGR/TM360, its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.

 

Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by the use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report/TechMoney360 does not take responsibility for the accuracy of forward looking statements and advises the reader to perform their own due diligence on forward looking numbers or statements.

 

 

 

 

Want the Best News?
Increase your wealth by staying informed:
Trend Alerts - Exclusive Articles - Videos
We respect your privacy.
RSS
Facebook
Instagram