VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / October 30, 2014 / Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (the "Company" or "Nevada Clean") today announced that it will hold a special general meeting of its shareholders on December 19, 2014 to approve the adoption of new Articles for the Company (the "Proposed Articles") which would replace the Company's current Articles. The current Articles of the Nevada Clean are outdated, and the Proposed Articles would provide it with modernized Articles, which provide greater flexibility to the Board in carrying out the business of the Company.
Included in the Proposed Articles, but listed as separate resolutions to be voted upon, are:
- adding advance notice provisions for the nomination of directors by shareholders in certain circumstances so that all parties would know in advance of potential upcoming board changes; and
- creating an unlimited number of Preferred shares without par value and to authorize the directors of the Company to attach special rights and restrictions to the Preferred Shares, and to issue Preferred shares in series, so that the Board can move quickly to structure creative financings or acquisitions should the need arise.
A notice of the special meeting and an information circular with detailed information on all the above proposals will be mailed to shareholders in advance of the December 19, 2014 special general meeting.
About Nevada Clean Magnesium, Inc.
Nevada Clean Magnesium is focused on becoming a major U.S. producer and distributor of primary, high grade, low cost magnesium extracted from its 100% owned Tami-Mosi property located in North Central Nevada. Based on the Company's NI 43-101 Preliminary Economic Assessment Report published in late 2011, the Tami-Mosi Project has an inferred resource of 412 million tonnes with an average grade of 12.3% Mg for a contained metal content of 111 billion pounds of magnesium using a 12% cut-off grade contained within a high purity dolomite block. For more information, please visit www.nevadacmi.com.
Neither 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.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. More detailed information about potential factors that could affect projected results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
FOR MORE INFORMATION, PLEASE CONTACT
KATHY ADDISON
Phone: 407-585-1080
SOURCE: Nevada Clean Magnesium, Inc.