NEW YORK, NY – TheNewswire – August 21, 2020 – Western Magnesium Corporation‘s (TSXV:WMG) (Frankfurt-M1V) (OTCQB:MLYF) (“Western Magnesium” or the “Company”) today announced that all resolutions were passed at its annual general meeting held August 20th, 2020.
Shareholders voted in favour of all matters brought before them at the meeting, including the re-election of Edward Lee, Sam Ataya, Rabih Ataya, James Sever, Steve Thorlakson, Robert Brown, Jeff Wilson, Michael Pickholz to the Board of Directors. In addition to the Board members being re-elected, Dale Matheson Carr-Hill Labonte LLP was re-appointed as auditors of the Company, and the Company’s stock option plan was approved by the shareholders.
The percentage of outstanding shares represented at the meeting was 20.99%, with a total of 87 shareholders, holding 67,888,001 shares. The Company has filed its Q2 Interim Financial Statements and Management Discussion and Analysis on August 14, 2020.
About Western Magnesium
Western Magnesium’s goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs relative to current methods and processes, while being environmentally friendly.
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company’s dolomite reserves may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able hire and retain skilled employees. The Company undertakes no obligation to update forward–looking information except as required by law. The reader is cautioned not to place undue reliance on forward–looking statements. These forward-looking statements are made as of the date of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
For additional information please visit our website at www.westmagcorp.com
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