MGX Minerals Inc (MGXMF)

[NetworkNewsWire]

MGXMF Engineering Partner Awarded C$8.2M to Develop Water Treatment System

Diversified resource and technology company MGX Minerals Inc. (CSE: XMG) (FKT: 1MG) (OTCQB: MGXMF) this morning announced that PurLucid Treatment Solutions, its engineering partner, has been awarded a non-repayable contribution totaling up to C$8.2 million in government funding, including grants from both Sustainable Development Technology Canada (“SDTC”) and Emissions Reduction Alberta (“ERA”), in support of the commercialization of a low energy water treatment system for the oil and gas industry. “Treatment of wastewater has always been a challenge and significant cost to oil and gas producers; it is also essential to implement petrolithium recovery,” Dr. Preston McEachern, founder and CEO of PurLucid, stated in the news release. “We’re grateful to receive support from SDTC and ERA in the form of development contributions, to build the first commercial system at an operating oil production facility in Alberta and to demonstrate the large cost and energy savings that can be achieved with these systems.” MGX currently owns a 34 percent stake in PurLucid and maintains the right to acquire 100 percent through successive future investments.

To view the full press release, visit http://nnw.fm/XEy2d

About MGX Minerals

MGX Minerals is a diversified Canadian resource and technology company with interests in lithium, magnesium and silicon assets throughout North America. MGX currently owns 34% of PurLucid and has the exclusive right to acquire a 100% interest as well as owning the global rights to recently developed lithium and mineral extraction technologies co-operatively developed by PurLucid and MGX. Learn more at www.mgxminerals.com