MGX Minerals increases interest in ParLucid to 51%

Jan 26, 2018

2018-01-25 07:32 ET – News Release

Mr. Jared Lazerson reports

MGX MINERALS INCREASES OWNERSHIP STAKE IN CLEANTECH ENGINEERING PARTNER PURLUCID TREATMENT SOLUTIONS TO 51%

MGX Minerals Inc. is exercising its option to acquire an additional 5-per-cent ownership interest in engineering partner PurLucid Treatment Solutions from existing shareholders in exchange for one million MGX shares. The phase IV investment agreement share option exercise increases MGX’s ownership in PurLucid to 51 per cent. The company maintains the right to acquire 100 per cent through successive future investments.

Since announcing an acquisition and engineering partnership agreement in September, 2016, MGX and PurLucid have invented new technology and filed patent applications related to brine treatment and selective lithium recovery. PurLucid’s licensed nanoflotation technology, which purifies waste water brine, has since been integrated with a newly developed lithium recovery process. MGX holds the global rights to the jointly developed lithium extraction technology. MGX and PurLucid are now commissioning the first 750-barrel-per-day system, with flow testing expected to be completed shortly.

About PurLucid

PurLucid’s exclusively licensed and patented nanoflotation technology was designed specifically for oil field environments. The technology separates impurities from oil and gas waste water and produces clean water as a final product. This allows for the recycling or controlled release of oil field waste water and reduces or eliminates downhole and associated transportation costs. Water handling costs are one of the largest operating costs in the oil field and oil sands operations today.

About MGX Minerals Inc.

MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America.

We seek Safe Harbor.

https://www.mgxminerals.com/investors/news/2018.html