06:18:29 EDT Mon 06 May 2024
Enter Symbol
or Name
USA
CA



Nevada Clean Magnesium Inc
Symbol NVM
Shares Issued 137,723,450
Close 2014-03-17 C$ 0.075
Market Cap C$ 10,329,259
Recent Sedar Documents

Nevada Clean still in talks with ScanMag over JV

2014-03-18 09:02 ET - News Release

An anonymous director reports

NEVADA CLEAN MAGNESIUM UPDATES STATUS WITH SCANMAG AS

Nevada Clean Magnesium Inc.'s meetings last week in London with ScanMag AS went well, and both parties are still proceeding toward the proposed relationship of the parties, including the private placement and joint venture agreement. ScanMag and NCM management discussed the private placement and the JV, and agreed to some amendments to the proposed terms. ScanMag is currently awaiting the edits from NCM and will be forwarding the draft JV agreement to its legal department for review, as per Norwegian law. NCM's management believes that both parties are working in good faith to resolve any outstanding issues regarding the JV, as per the binding letter of agreement that was signed by both parties and announced on Oct. 15, 2013. Further, as a result of the discussions, the company is assisting ScanMag with certain technical aspects of ScanMag's own project. The company is looking forward to a conclusion of the announced transactions and will update the shareholders as material news develops.

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