VANCOUVER, British Columbia, February 5, 2019 /PRNewswire/ --
MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG) (OTCQB: MGXMF) (FSE: 1MG) is pleased to report that its wholly owned subsidiary MGX Renewables Inc. ("MGXR"), a leader in the development of low-cost energy storage systems, has appointed former Canadian Member of Parliament and renewables / infrastructure industry veteran and energy specialist Ron MacDonald to its Board of Directors effective immediately.
Mr. MacDonald has over 35 years of both public and private sector experience, ranging from international roles within the Parliament of Canada to serving on the boards of numerous publicly listed resource companies. From 1988 to 1997, he was the Member of Parliament for Halifax, Nova Scotia, during which time he was appointed by the Prime Minister of Canada as Parliamentary Secretary of International Trade. From 1997-2002, Mr. MacDonald was President and CEO of the Council of Forest Industries, a large lumber manufacturing, grading and marketing group, where he developed new markets in China, Korea, India and Japan. Ron was a Director and Founding Member of Canada Wood, one of Canada's most successful marketing programs opening up global markets for Canadian Wood Products. Mr. MacDonald has served as Executive Chairman and Director of American Vanadium Corp. as well as Executive Chairmen of Critical Elements Corp. Ron has also been a contributor to the EU Commission Framework 7 policy paper on 'Scarcity of Strategic Minerals' and a presenter at conferences throughout the United States, Canada, Europe and Asia on strategic minerals needed to support the renewable energy and storage industries. In recent years, Mr. MacDonald has served as President of NRStor Remote Communities and Mines, a Canadian company focused on partnering with off-grid Indigenous communities and mines to develop renewable energy and energy storage projects.
"Mr. MacDonald's appointment to MGXR's board of directors comes at an exciting time," stated MGXR President and CEO Jared Lazerson. "As we begin rolling out our new lineup of zinc-battery modular storage systems and file the public listing for MGXR, Mr. MacDonald's vision, experience, and vast global network will be crucial in the sales and energy arbitrage opportunities based on the MGXR product line. As both a great Canadian and global citizen, Mr. MacDonald is well qualified to be entrusted with this low-cost battery technology that can only be described as the missing link in the global shift to renewable energy and on demand distributed power."
The Company is also pleased to report that MGXR has receive final court approval for its plan of arrangement (see press release dated December 18, 2018) as well as submitted an initial filing to obtain a public listing on the Canadian Securities Exchange (CSE).
About MGX Renewables
MGX Renewables has developed a patented zinc-air flow battery that efficiently stores energy in the form of zinc particles and contains none of the traditional high cost battery commodities such as lithium, vanadium, or cobalt. The technology allows for low cost mass storage of energy and can be deployed into a wide range of applications scalable energy storage applications.
Unlike conventional batteries such as lithium-ion, which have a fixed energy/power ratio, the technology uses a fuel tank system that offers flexible energy storage to power ratios and scalability. The storage capacity is directly tied to the size of the fuel tank and the quantity of recharged zinc fuel, making low cost scalability a major advantage of the flow battery system. In addition, a further major advantage of the zinc-air flow battery is the ability to charge and discharge simultaneously and at different maximum charge or discharge rates since each of the charge and discharge circuits is separate and independent. Other types of standard and flow batteries are limited to a maximum charge and discharge by the total number of cells as there is no separation of the charge, discharge and storage components. For more information, visit http://www.mgxrenewables.com.
About MGX Minerals
MGX Minerals is a diversified Canadian resource and technology company with interests in global advanced material, energy, and water assets. Learn more at http://www.mgxminerals.com.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at http://www.sedar.com.
President and CEO
SOURCE MGX Minerals Inc.