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Press release content from News Direct Corporation. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from News Direct Corporation
Press release content from News Direct Corporation. The AP news staff was not involved in its creation.

Western Magnesium Inks Agreement in Eastern Ohio to Build First Ever “Eco-Friendly” Magnesium Plant in Historic Signing Ceremony

September 10, 2021 GMT

--News Direct--

WASHINGTON, D.C. – TheNewswire – September 10, 2021 –Western Magnesium Corporation (TSXV:WMG); (Frankfurt:3WM); (OTC:MLYF) (“Western Magnesium” or the “Company”) is pleased to announce the official signing and unveiling ceremony in Harrison County, Ohio.

A packed field of onlookers in Harrison County, Ohio hosted the site for the newly signed partnership between Western Magnesium and numerous economic development groups in Harrison County. Harrison County was chosen over several other locations throughout the United States to host its first ever “green” magnesium 100,000 metric tonne scalable plant in a monumental signing agreement answering the call for domestic magnesium metal production. The plant plans on producing 10% of the world’s current supply and employing over 200 full time and 500 support personnel which will significantly further the economic development of Harrison County and the state of Ohio.

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The 122-acre property is adjacent to the future home of a modern mixed fuels power plant which can provide power to our clean magnesium production, it is close to a dolomite supply and has an infrastructure of rail and highway that will carry our magnesium finished product to industries across the United States.

Nicholas Homrighausen, Executive Director of the Harrison County Community Improvement Corporation, said the company’s decision to locate its first “eco-friendly” plant in Harrison County proves without a doubt that Eastern Ohio can compete on a worldwide stage to attract industry not just in the oil and gas sector of the economy but the manufacturing side as well with this breakthrough technology of producing clean magnesium by Western Magnesium. “We look forward to working with Western Magnesium towards the successful completion of this innovative project that is over a one-billion-dollar investment with the potential of growing jobs.”

Click Link To View Video:

https://www.youtube.com/watch?v=BgWonnOYxYs

The Times-Reporter, Jon Baker attended the signing and unveiling event and his article may be viewed in the link below.

https://www.timesreporter.com/story/news/2021/09/07/magnesium-plant-bring-200-full-time-jobs-eastern-ohio/5758024001/

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U.S. Congressmen Bill Johnson, R-Marietta, said construction of the plant was important to the country. “Magnesium is a critical metal that goes into manufacturing and industries like automotive, aviation. You don’t have those manufacturing industries in America if you can’t extract magnesium.”

“Management spent sixteen months vetting other states and searching for the best opportunity for our first commercial plant. This process was made easier by the hard work and support from JobsOhio, the local businesses and the people from Harrison County by their hard work and support and by graciously opening their County and embracing our Company,” Executive President and CEO Sam Ataya said to the applauding crowd at the future site.

“Today Western Magnesium chose Harrison County to be the home to their state-of-the-art plant to produce magnesium metal with a low-cost and eco-friendly process,” said Ohio Southeast Economic Development President Mike Jacoby. “We thank Western Magnesium Corporation for their decision to build in our community and we congratulate Harrison County on their economic efforts.”

The signed agreement between both parties marks significant advancement in bringing back American jobs and industrial prominence once again to the United States in producing an “eco-friendly” metal vital to the strategic interests of this Nation.

Western Magnesium plans to break ground on the plant within the next eighteen months.

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 extraction technology 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 atwww.westernmagnesium.com

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Contact Details

Western Magnesium Corporation

John Ulmer

+1 604-423-2709

julmer@westmagcorp.com

Company Website

https://westernmagnesium.com

View source version on newsdirect.com: https://newsdirect.com/news/western-magnesium-inks-agreement-in-eastern-ohio-to-build-first-ever-eco-friendly-magnesium-plant-in-historic-signing-ceremony-731666083