WASHINGTON, DC – TheNewswire – October 1, 2021 – Western Magnesium Corporation (TSXV:WMG; Frankfurt-3WM; OTCQB:MLYF) ("Western Magnesium" or the “Company”) announces an amendment to the amount of stock option previously granted for 900,000 shares. The Company has granted an increased amount of 550,000 for an aggregated total of 1,450,000 incentive stock options pursuant to its Stock Option Plan for its directors, employees, advisors and consultants. The options are exercisable at a price of CAD 0.50 per share for a period of five years.
Any shares issued on the exercise of these stock options will be subject to the holding period as required by the TSX Ventures as well as any additional hold periods as required by US securities laws and regulations.
This stock option grant and amendment are subject to approval by the TSX Venture Exchange.
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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and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.
Company Contact: John Ulmer | julmer@westmagcorp.com | 604-423-2709
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the Company. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
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.
Neither the 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.
For additional information please visit our website at www.westernmagnesium.com
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