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Mag One moves to CSE from TSX-V, appoints two directors

2015-05-28 16:00 ET - News Release

Mr. Lucky Janda reports

MAG ONE CALLED TO TRADE ON CANADIAN SECURITIES EXCHANGE

Mag One Products Inc. has received approval from the Canadian Securities Exchange to list its shares and will commence trading on May 28, 2015, under symbol MDD and Cusip No. 55903J100. The company's former name of Acana Capital Corp. and its symbol APB were delisted on May 27, 2015, at the close of markets as part of the fundamental change.

The company will focus its efforts on the production of magnesium metal and magnesium compounds. The company acquired certain proprietary technology to be used in the production of magnesium metal and related compounds as a part of the fundamental change. A new listing statement was filed with the CSE that provides detailed disclosure of the new business, and is available for viewing under the company's profile on the CSE website.

Mag One also welcomes Dr. James Blencoe, PhD, and Nelson Skalbania, BSc, MApSc, PEng, to its board of directors. Dr. Blencoe will also serve as the company's chief operating officer.

Dr. Blencoe is the developer of the proprietary technology relating to the production of magnesium metal and compounds that the company acquired. Dr. Blencoe obtained a PhD in geology from Stanford University (California, United States) in 1974. He spent most of his career working as a geochemist at Pennsylvania State University (U.S.).

Mr. Skalbania obtained a BApSc degree in 1961, a PEng In 1962 from the University of British Columbia and then went on to obtain a master of science (civil engineering) degree in 1964 from the California Institute of Technology, Pasadena, Calif. For the past 10 years, he has been actively acquiring and disposing of a variety of real estate projects in North America.

Sandy Janda has stepped down as chief financial officer of the company. The company thanks her for her years of service and wishes her all the best. Sonny Janda, currently a director of the company, will assume the position of CFO in place of Ms. Janda on an interim basis.

The company also announces that it has completed the second tranche of its financing, raising a further $350,000. As announced previously, the financing has been increased by one million units to raise a further $500,000. The units are priced at 50 cents each and are accompanied by a share purchase warrant exercisable at 60 cents per warrant share for a period of five years from closing.

We seek Safe Harbor.

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