Tickers: XTSX:WMG, XOTC:MLYF, FRAA:M1V, PINX:MLYF
NEW YORK, NY - TheNewswire - March 13, 2020 - Western Magnesium Corporation (TSXV:WMG); (Frankfurt-M1V); (OTC:MLYF) ("Western Magnesium" or the "Company") - With the outbreak of the COVID-19 virus, our global environment has witnessed unprecedented uncertainty and unpredictability. As a result, it has brought a new level of uneasiness and an unsureness to the marketplace. To start, I would like to assure our shareholders that we take very seriously the high level of responsibility and responsiveness to promote staff safety and health within our area of influence.
By being accountable, this allows us an opportunity to measure the situation, monitor the environment and maintain safety while managing expectations. This is a reflection of management and staff's commitment, as they continue to work hard, stay focused, and drive forward with dedication in an effort to achieve our Company objectives.
Though we fully appreciate the seriousness of the situation, I would like to share with our shareholders, that the Board of Directors, the Executive Chairman, myself, the Executive President & CEO and all of our staff, are fully committed to the ongoing work ahead that is required to become a magnesium metal producer.
To that effect, our office will remain open during this outbreak. We feel strongly that we have taken all steps necessary to ensure the safety of our staff, contractors and corporations that we work with. Our commitment to keeping the office open is in part due to the fact that this situation brings to light what Western Magnesium has been articulating since its inception; which is the core belief that we must not only control our resources but continue our efforts to control our manufacturing within our nation.
The Covid-19 virus has not only affected businesses but families, and has limited movement of people and product in an effort to control the spread of the virus. What this outbreak has highlighted is our need as a Company and as a nation to rely less on a global supply chain and focus more on what can be made, built, produced and manufactured within our borders to ensure continued economic growth. We fully understand the seriousness of this situation and this has reinforced our will in pushing ahead in developing our plans.
Finally, I would like our shareholders to know that this outbreak will not delay the timeline that we have laid out internally for us to become a magnesium metal producer. All the developments taking place will not be affected by any delays due to the Covid-19 outbreak. More than ever, Western Magnesium is confident that it will meet its goals and timelines. We will continue to update our shareholders as to our progress and we look forward to sharing more news with you shortly.
Executive President & CEO
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 lightweight qualities. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces manufacturing and energy costs relative to current methods and processes, while being environmentally friendly.
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. We seek Safe Harbor.
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