Nevada Clean Magnesium closes $352K third and final tranche

pcNewsWire – Nevada Clean Magnesium, Inc. (TSX-V: NVM; FSE: M1V; OTCPK: MLYFF) has completed third and final tranche of previously announced private placement, raising $351,813 through the issuance of 7,036,260 units at $0.05 per unit. The company has raised $652,573 in aggregate through the issuance of 3,051,460 units.

Press Release

Nevada Clean Magnesium Closes Oversubscribed Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA / TheNewswire / May 10, 2017 – Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (The “Company”) is pleased to announce that it has closed a third and final tranche of the non-brokered private placement originally announced on February 10th, 2017 for gross proceeds of $351,813.00 comprising of 7,036,260 Units (the “Unit”) at a price of $0.05 per Unit.

The placement closed oversubscribed with the total aggregate amounting to $652,573.00 and issuancing 13,051,460 Units.

In connection with the third tranche of the Offering, the Company paid $10,782.00 cash in finder’s fees and 68,626 broker’s warrants at a price of $0.05 per warrant.

The Offering

The Offering was not subject to any minimum aggregate subscription. Each Unit consisted of one common share in the capital of Nevada Clean Magnesium (the “Common Shares”) and one Common Share Purchase Warrant (the “Warrants”). Each Warrant is exercisable into one Common Share for a period of five years at a price of $0.05/share. The Warrants are subject an acceleration clause in the years three, four and five so that the exercise period of the Warrants will be reduced to 30 days, if for any ten consecutive trading days during the unexpired term of the warrant (the “Premium Trading Days”), the closing price of the listed shares exceeds the exercise price of the warrants by: (1) 25% or more if the exercise price is $0.50 or less; (2) 20% or more if the exercise price is between $0.51 and $2.00; and (3) 15% or more if the exercise price is greater than $2.00 (and for more certainty, the reduced exercise period of 30 days will begin no more than 7 calendar days after the tenth Premium Trading Day). Proceeds from the Offering will be used for working capital.

The securities issued in connection with the Offering will be subject to a hold period expiring four months and one day from the date of issuance of the securities. The completion of the private placement and payment of any commission and fees remains subject to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

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 metal 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 September 2011 and amended in July 2014, 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

The technical portion of this press release was prepared under the supervision and review of James Sever, P. Eng., COO for Nevada Clean Magnesium. Mr. Sever is a non-independent qualified person within the meaning of National Instrument 43-101 standards.

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.

To Reach Nevada Clean Magnesium Please Contact:

Edward Lee, CEO at (604) 210-9862

For additional information please visit our website at or view our profile at