VANCOUVER, BC / ACCESSWIRE / April 8, 2020 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG)(FKT:1MG)(OTC PINK:MGXMF) announces as a result of recent advancements by research partner the University of British Columbia (see press release dated April 2, 2020), in the development of a silicon anode for next generation lithium ion batteries, the Company has entered into an investor relations agreement with FXCT Media Inc. (“FXCT”). FXCT will provide corporate, investor and partnership communication services for the Company’s Silicon Anode Lithium Ion Battery project. The agreement is for a period of three months, with compensation of $15,000 and 300,000 incentive stock options. The MGX/UBC partnership recently announced completion of a 1,000 discharge lifecycle test of its silicon anode in a next generation lithium ion battery. This next generation battery has an increased energy storage of 400Wh/kg, a doubling of capacity over the current ratio of ~200Wh/kg. The silicon anode was produced utilizing a proprietary advanced materials science etching and coating process for treating silicon creating a nanostructured form suitable for use in lithium ion batteries.
Incentive Stock Options
The Company has filed a Form 11 with the CSE for 5,400,000 at $0.07 with a two year expiration to officers and consultants of the Company within the Company’s stock option plan. The Company plans to cancel up to four million incentive options under a previous agreement or as a result of a departure.
About FXCT Media Inc.
FXCT Media is a digital marketing agency specializing in online investor awareness for publicly traded companies. FXCT reaches a broad range of investors and institutions.
About MGX Minerals Inc.
MGX Minerals invests in commodity and technology companies and projects focusing on battery and energy mass storage technology, advanced materials, the extraction of minerals and metals from fluids, water filtration, and gasification. MGX conducts exploration for battery metals (Ni-V-Li-Co-Pt-Pd), industrial and agricultural minerals (MgO-Si-Nb), gold, and hydrogen. At the most recent financial quarter, October 31st, 2019, MGX Minerals had $26.6 million in assets and $6 million in liabilities and loans.
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.
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”, “potentially” 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.
SOURCE: MGX Minerals Inc.
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