Wednesday, November 22, 2017

Mag One completes seven trials at phase 1 pilot plant

2017-11-22 16:24 ET - News Release


Ms. Gillian Holcroft reports
MAG ONE'S PHASE 1 PILOT PLANT GENERATING ENCOURAGING RESULTS
Mag One Products Inc. has provided an update on the rapid progress being achieved at the company's phase 1 hydrometallurgical pilot plant. To date, seven pilot trials have been performed with each successive test showing improved performance. Though the operating conditions are still being optimized, amorphous silica, having a purity of more than 88 per cent, and a surface area of more than 300 square metres per gram, along with the precursor magnesium compound having a purity of about 99.0 per cent, have been observed. The intent is to engage two separate third party industrial research groups to evaluate and qualify the amorphous silica produced by the pilot plant for value-added incorporation into high performance concrete, rubber and other materials. Mag One is finalizing its budget and government grant application for the phase 2 hydrometallurgical pilot plant work, where the precursor magnesium compounds will be transformed into high-purity magnesium oxide, the feed material for producing magnesium metal through aluminothermic reduction.

The purpose of the pilot plant, designed to process 100 kilograms per hour of serpentinite tailings, is twofold: (1) to gather engineering data to design, build and operate a commercial 30,000-metric-tonne-per-year MgO (magnesium oxide) production facility in southeastern Quebec; and (2) to generate MgO and amorphous silica for qualification purposes by third parties, including potential customers, for establishing offtake agreements.

As previously disclosed in the company's Oct. 12, 2017, and Nov. 20, 2017, news releases, management's decision to begin permitting efforts, as well as its commitment to processing the Jeffrey mine tailings, to recover magnesium, silica and nickel, has not been based on results from a feasibility study of mineral reserves that would demonstrate economic and technical viability of the project. Without this study, there is increased uncertainty and increased economic and technical risks. Management does intend to engage an engineering firm to carry out a prefeasibility study once the pilot plant effort is nearing completion and will use the pilot data as a basis for the study.

Gillian Holcroft, Mag One's president, stated: "Our team of collaborators, from the MRC des Sources Mining Innovation Centre (CIMMS) to the University of Sherbrooke and others, have achieved admirable progress in the pilot plant. This groundbreaking work is critical to ultimately being able to produce magnesium metal cost-effectively from our advanced technology. The whole region has rallied around our work, and we fully expect support from all levels of government in forthcoming phases of our work."

Lastly, Mag One has been assigned its LEI (legal entity identifier).
The Legal Entity Identifier is the international ISO standard 17442. LEIs are identification codes (across markets and jurisdictions that enable consistent and accurate identification of all legal entities that are parties to financial transactions, including non-financial institutions.
The Mag One Products LEI is: 549300CLAKDSVBQM3104.
Mag One Products is a company that aims to be a global leader in the magnesium (Mg) market by concentrating on four projects at its manufacturing plant sites in Southern Quebec, Canada:

  1. Production of high-purity MgO, silica and other saleable co-products, byproducts and compounds;
  2. Production of 99.9-per-cent-pure-magnesium ingots;
  3. Magboard Products Inc., assembly and sale of MgO-based, structural insulated sheathing panels and wallboards;
  4. MagPower's Mg air fuel cell for scalable emergency power on sea and land.
Key advantages that these four projects share are Mag One's advanced technologies, a modular processing plant expansion concept and the company's easy access to tonnes of already-mined, serpentinite tailings.
Gillian Holcroft, eng, MEng, president and director of Mag One Products, is the company's designated qualified person for this press release, and has prepared and supervised the preparation of and approved the scientific and technical disclosure in this news release.
We seek Safe Harbor.

Thursday, November 2, 2017

A platform for the exchange of in-game currencies and tokens

Stompy Bot Announces Blockchain Acquisition
Saint John, New Brunswick--(Newsfile Corp. - November 2, 2017) - Stompy Bot Corporation (CSE: BOT) ("Stompy Bot" or the "Company") is pleased to announce today that is has signed a non-binding term sheet to acquire (the "Acquisition") all of the issued and outstanding securities of Token Play Inc. ("Token"), a private Ontario corporation headquartered in Toronto, for $2.4 million in an all stock deal to be satisfied by the issuance of 48 million common shares (each, a "Common Share") of Stompy Bot at an issuance price of $0.05 per share. Following completion of the Acquisition, Token will become a wholly-owned subsidiary of Stompy Bot. Token is a technology company involved in the development of blockchain technology in the video game space which will seek to provide a platform for the exchange of in-game currencies and tokens. Token does not currently have any revenue.

Upon completion of the Acquisition, it is anticipated that a number of the current management of Stompy Bot will be transferred to Stompy Bot's subsidiary, Stompy Bot Productions Inc., to continue the development of Stompy Bot's video games, while Token's development team will remain with Token (upon closing, a subsidiary of Stompy Bot) to continue to develop Token's video game blockchain technology. Upon closing certain officers and directors will be appointed to Stompy, and biographies of these individuals will be disclosed at the time of their appointment. Additional disclosure concerning the Acquisition will be disclosed as it becomes available, which the Company anticipates will occur upon the signing of a definitive acquisition agreement within the next few weeks.

In connection with the Acquisition, Stompy Bot is proposing to complete a non-brokered private placement of up to 40 million units of the Company ("Units") at a price of $0.05 per Unit for gross proceeds of up to $2 million (the "Offering"). Each Unit will be comprised of one Common Share and one Common Share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share for a period of two (2) years from the closing of the Offering at a price of $0.10 per Common Share.
Upon completion of the transactions, Stompy Bot will retain Bridgemark Advisors Ltd. for corporate finance and management services for a twelve month term pursuant to a consulting contract to be entered into concurrent with the closing of the Offering.

Closing of the Acquisition and the Offering is subject to certain conditions including, but not limited to, the execution of definitive agreements, due diligence, and the receipt of all necessary approvals including the approval of the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The proceeds of the Offering will be used to develop and commercialize the business of Token and Stompy Bot Productions Inc., and for general working capital purposes of Stompy Bot.

About Stompy Bot
Stompy Bot is an independent video game developer and digital media publisher. Stompy Bot's growth strategy is to become a premier independent multimedia publisher. Stompy Bot's indie philosophy is to identify and acquire unique video game properties, apply innovative technologies, game development expertise, partner with movie studio resources and manage entertainment brands through a global media marketing approach. Stompy Bot is the exclusive Heavy Gear digital games license holder and publisher of Heavy Gear Assault, a next generation PC title using Epic Game's latest Unreal Engine 4 technology. For more information visit www.stompybot.com.

For further information, please contact:
Jon Gill
Stompy Bot Corporation
Tel: 416-722-1166
Email: jgill@stompybot.com

Forward-Looking Information
Certain information set forth in this news release may contain forward-looking information that involve substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, failure to enter into a definitive agreement and complete the Acquisition, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.