Tickers: XTSX:WMG, XOTC:MLYF, FRAA:M1V, PINX:MLYF
As promised, and during the time of this COVID-19 outbreak I wanted to continue to update you on the state-of-affairs within our Company.
A few days ago, a shareholder called me and asked if business was slow due to the shutdown that is being experienced by so many companies during this outbreak. In fact, nothing could be further from the truth. I feel that we are busier now more than we have ever been in the history of this Company.
Though I fully understand the negative impact the virus has had economically, socially, mentally, and physically on so many people, this time at Western Magnesium has been a time of growth and development. A reassurance that our message of self-reliance and determination to be in control of our own resource and destiny has proven itself to be the right path moving forward.
I explained to our shareholder that during these uncertain times our dream of creating a cornerstone business that reflects the values of reviving an industry is alive more today than before. It is during these adverse times that our spirit as this nation's corporation must continue to shine. We as a Company must be the beacon for endurance while we revive our industry and continue to prosper.
I want to also remind you once more that our office is open, and we are continuing to build out our Phase II Program. In essence, our timelines are still intact, and I could not be more proud of our staff and corporate partners in fighting the fight to ensure that even at this stage of our corporate growth we are viewed as a corporation that will continue leading the fight in self-reliance, productivity, manufacturing and industry for years to come.
During this time when so many companies are having to shut down and lay off staff, we on the other hand, continue to hire new people to join our team, as we maintain our strategy for technology development and the opening of our first operational plant. Over the next eight weeks, we will be hiring new staff, to meet the requirements needed for our development timelines. For the first location of our plant, we have several sites we are actively engaging that will determine the first plant for Western Magnesium.
In the past, our great nation has been able to build great things during adverse times, we can see that today with different companies retooling their businesses to help fight the spread of the COVID-19 virus. Though we can't directly add to that fight today, we are continuing to build on our vision to contribute to a great business being built in the future. We, as a people, must fight the fight, whether the challenge is the hardship we are facing today or future adversity we may encounter. For our Company it is in our DNA. We here at Western Magnesium will continue to fight the fight and any adversity as we lend a hand in contributing to the rebirth of inventiveness and industries from small towns to big cities.
I'd like to extend this message of hope, that for us, our nation's dream is what fuels us and moves us. This is not a choice, this is who we are as a Company, as employees and as shareholders.
I look forward to updating you next week.
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 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.
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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