VANCOUVER, BC / ACCESSWIRE / May 20, 2014 / Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (the "Company" or "Nevada Clean") today announced that in connection with the recently announced signing of the Joint Venture agreement with ScanMag AS, the Company is pleased to welcome Lothar Maruhn, Chairman and Chief Executive Officer of ScanMag AS, to the Company's Board of Directors; and Dr. ing Finn Nordmo, ScanMag's CTO and Project Manager, to Nevada Clean's Technical Advisory Board.
In addition to leading ScanMag AS, Maruhn also serves as the CEO of Mel?y Naeringsutvikling AS, which is comprised of a comglomerate of leading companies and financial insittutions in Norway For the past 28 years, he has been involved in advancing strategic new business development opportunities in northern Norway with particularl emphasis on the public service, tourism and industrial markets. Previously, Maruhn was the CEO of SiPro AS, Scan Quarts AS and Scan Crucible AS, all with focus in either renewable energy or industrial metals. A graduate of Bod? Graduated School of Business, he is fluent in three languages and has earned extensive leadership experience managing multi-national businesses and relationships over his 40+ year professional career.
After earning a degree from the prestigious Norwegian University of Science and Technology, Department of Technical Electrochemistry in Trondheim, Norway, Dr. Nordmo served as key member of the aluminum manufacturing research and development team at SINTEF (The Foundation for Scientific and Industrial Research), the largest independent research organization in Scandinavia. Prior to ScanMag, he worked for Hydro Agri and Yara Internationa, where he held positions as process engineer, production manager and plant manager of two mineral fertilizer manufacturing facilities. After retiring from Yara International, he became President of Scan Crucible AS and has served as a senior industrial advisor to Mel?y Naeringsutvikling AS since 2008.
Commenting on the appointments, Edward Lee, Chairman and CEO of Nevada Clean, stated, "With an objective of recruiting the very best, most experienced leaders to Nevada Clean's Board of Directors and Technical Advisory Board, I am very pleased that we'll have the benefit of Lothar and Finn's proven industry expertise on our team. As we move our new joint venture forward with ScanMag AS, it is with great confidence that the team we are assembling is indeed comprised of the best of the best in industrial minerals, manufacturing and global business development. It is an enormously satisfying time to be a part of Nevada Clean, and today's announcement adds to our ability to deliver on our promising growth potential."
About ScanMag AS
ScanMag AS is an industrial minerals company headquartered in Glomfjord, a village in the municipality of Mel?y just north of the Arctic Circle on Norway's west coast. The Company was jointly formed by Normin Mine AS and Mel?y Naeringsutvikling AS in 2012 to develop a large deposit of high quality dolomite, situated in the Granasen field outside Mosj?en, near Glomfjord and is comprised of both dolomite and brucite. Mel?y Naeringsutvikling AS is jointly owned by the municipality of Mel?y in Nordland County; Yara Norway ASA, a subsidiary of one of the world's leading chemical company; Sparebank 1 Nord-Norge, a banking group that has served North Norway since 1836; and DNB Bank, Norway's largest financial services group. These Companies have teamed to capitalize on northern Norway's wealth of environmental resources to create new jobs, expand industrial infrastructure and promote global trade. www.mnu.no
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
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements in this news release include statements about the closing a joint venture and private placement.
Actual results may differ materially from those currently anticipated due to a number of factors, including that we may not be able to agree on final terms with ScanMag, that ScanMag may not raise the necessary funds to invest, that the Company's dolomite reserves may not mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic, and other risks associated with being a mineral exploration and development company. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
CONTACT INFORMATION:
Hanover|Elite
Kathy Addison, Chief Operating Officer
Phone: 407-585-1080
Email: [email protected]
SOURCE: Nevada Clean Magnesium, Inc.