VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / April 29, 2014 / Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (the "Company") today announced the engagement of New York City-based Crucible Capital Group, Inc. to serve as the Company's exclusive corporate finance advisor and investment banking firm.
Specializing in providing investment banking services to entrepreneurial, high growth companies in the U.S., Canada, China and Latin America, Crucible Capital Group is tasked with advising Nevada Clean on private equity, debt or a credit facility to support development of the Tami-Mosi Magnesium Project (the "Project").
Charles Moore, CEO of Crucible Capital, stated, "We are very excited about the opportunity to work with such an experienced team. We think that Nevada Clean Magnesium has the technology and know-how to be successful. We also believe that the Nevada Clean's team has an approach to developing their Project that is logical, pragmatic and well-timed."
Edward Lee, CEO of Nevada Clean Magnesium, stated, "This is very exciting times for the Company, for sure. Given that we have both an investment banking partner in the U.S. and a potential Joint Venture partner with ScanMag AS of Norway, Nevada Clean Magnesium definitely has the pieces in place to move forward with the Tami-Mosi Project. We believe we can get to pre-feasibility on the Project for under $10 million."
This news release does not constitute an offer for sale of securities or a solicitation for offers to buy any securities.
About Crucible Capital Group, Inc.
Headquartered in New York City, Crucible Capital Group provides comprehensive investment banking services to micro- and small-cap companies in the United States and internationally. The firm is distinguished by the experience of its principals and their proven track record of successful engagements. Crucible Capital Group is a FINRA-registered broker/dealer and a SIPC member firm.
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. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements in this news release include statements about the entering into a joint venture, that we can achieve pre-feasibility on Tami- Mosi for under $10,000,000, that we can create significant value for our shareholders, and that Nevada Clean Magnesium can become a major magnesium producer and supplier.
Actual results may differ materially from those currently anticipated due to a number of factors, including those beyond the Company's control. These risks and uncertainties include, among other things, that we may not be able to agree on final terms with ScanMag, that may not be able to obtain regulatory approval, that we may not be able to raise funds required, that costs to achieve pre-feasibility for Tami - Mosi may be much greater than our current estimate, 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.
Kathy Addison, Chief Operating Officer
SOURCE: Nevada Clean Magnesium, Inc.