MGX Minerals Announces Successful Demonstration of Rapid Lithium Extraction System
VANCOUVER, British Columbia, June 14, 2018 (GLOBE NEWSWIRE) -- MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (OTCQB:MGXMF) (FSE:1MG) and engineering partner PurLucid Treatment Solutions Inc. (“PurLucid”) are pleased to report a successful demonstration event of the NFLi-5 commercial-scale rapid lithium extraction system, which is now ready for deployment. The demonstration occurred at PurLucid’s laboratories in Calgary, Alberta and was attended by oil and gas companies, industrial customers, lithium brine owners and local and international media. Calgary’s CTV News also featured a segment on the technology, which was broadcast on their nightly news program (click here to watch).
Petrolithium Technology
PurLucid’s water treatment technologies, which purify wastewater brine, have been integrated with a newly developed lithium recovery process. Combined, this Cleantech process does not require the construction of large, multi-phase, lake sized, lined evaporation ponds, greatly reducing the physical footprint and enhancing the quality of extraction and recovery across a complex range of brines previously considered un-processable due to complexity or geographical location outside of solar evaporation appropriate zones. This includes oil and gas wastewater, natural brine, and other brine sources such as lithium-rich mine and industrial plant wastewater.
MGX’s rapid lithium extraction technology was recently chosen as winner of the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global Platts Global Metals Awards, held in London earlier this month (see press release dated May 18, 2018). Hosted by S&P Global Platts, a leading global energy, metals and commodities information provider, the annual awards program honored exemplary performance in fifteen categories spanning the entire steel, metals and mining complex.
About PurLucid
PurLucid’s exclusively licensed and patented nanoflotation technology was designed specifically for oilfield environments. The technology separates impurities from oil and gas wastewater and produces clean water as a final product. This allows for the recycling or controlled release of oilfield wastewater and reduces or eliminates downhole and associated transportation costs. Water handling costs are one of the largest operating costs in the oilfield and oilsands operations today. Learn more at www.purlucid.com. MGX currently holds a 51% interest in PurLucid and maintains the right to acquire 100% through successive future investments.
About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America. Learn more at www.mgxminerals.com.
Contact Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: 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.
Forward-Looking Statements
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 www.sedar.com.