NEW YORK, NY – TheNewswire – August 9, 2021 – Western Magnesium Corporation (TSXV:WMG); (Frankfurt-3WM); (OTC:MLYF) (“Western Magnesium” or the “Company”) announces that on August 6, 2021 it filed a Form 10 Registration Statement with the Securities and Exchange Commission (the "SEC") to register its common stock under Section 12 of the Securities Exchange Act of 1934 (the "Exchange Act"). Once the Form 10 goes effective which is expected to occur on October 5th, 2021, Western Magnesium will be subject to the reporting requirements of the Exchange Act and will be required to file annual, quarterly, and annual proxy statements with the SEC.
Executive President & Chief Executive Officer, Sam Ataya states, "The filing of the Form 10 continues the progress we are making to move the Company forward and lays the foundation for listing to a major U.S. Exchange. This will better position our Company to accelerate our business objectives, pursue our respective operating priorities and strategies, and to focus on our unique opportunities for long-term growth."
In addition, the filing of the Form 10 provides the transparency institutional investors require and the opportunity for them to participate in future financings, necessary for the strategic build out of our commercialized plants across the United States.
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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and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.
Company Contact: John Ulmer | julmer@westmagcorp.com | 604-423-2709
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the Company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Neither the 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.
For additional information please visit our website at www.westmagcorp.com
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