WASHINGTON, D.C. – TheNewswire – November 30, 2021 – Western Magnesium Corporation (WMC) (TSXV:WMG) (Frankfurt:3WM) (OTC:MLYF) (“Western Magnesium” or the “Company”) is pleased to announce that corporate operations have officially relocated from Canada to the United States. The move comes as WMC works to rebuild the American Industrial base by offering an innovative, eco-friendly, and high-quality clean magnesium metal and alloy solutions that focus on American companies and products with an American workforce.
The Company’s corporate headquarters, now based in the Washington D.C. metro area, will focus on expanding the industrial supply of clean magnesium metal produced in the United States. This effort not only accelerates the United States economic recovery, but also, reduces foreign dependency on critical components made from magnesium that is vital in strengthening our infrastructure and continued growth of our gross domestic product.
WMC’s first full-scale commercial plant will be in Harrison County, Ohio, and leadership is currently working to select future plant locations in the United States.
Sam Ataya, Executive President and CEO said, “The proximity of our new head office positions us to work closely with industries including auto, aerospace, airline, the U.S. Government, and the Department of Defense. We look forward to working closely with our shareholders in Canada and the United States as we continue to build out operations that will place us on the frontlines to become the reliable source for clean magnesium.”
Peter O’Rourke Sr., President, U.S. Operations said, “We have a tremendous opportunity to work together with policy makers at the local, state, and Federal level that will help educate and inform decisions on national security and supply chain matters as it relates to clean magnesium production. This will ultimately ensure that we continue to build an America that is safe and prosperous as we unveil a new chapter of American ingenuity.”
About Western Magnesium
Western Magnesium’s goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs relative to current methods and processes, while being environmentally friendly.
Media Relations & Corporate Communications: Ashleigh Barry | [email protected] | (202) 258-4453
Investor Relations: John Ulmer | [email protected] | (604) 423-2709
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company’s dolomite reserves may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able hire and retain skilled employees. The Company undertakes no obligation to update forward‐looking information except as required by law. The reader is cautioned not to place undue reliance on forward‐looking statements. These forward-looking statements are made as of the date of this news release.
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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
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