To recap some of the major benchmarks and milestones achieved by Magnum during the short preceding 12 months, we are happy to report the following events:
Magnum acquired over $130 Million in material contracts prior to production commencement. Magnum acquired a 100,000 sq ft facility in Magog, Canada to begin production activities. Magnum retained the International Law firm "Heenan Blaikie" as its Canadian Council. Magnum established the wholly owned subsidiary "Magnum Recycling Canada" for initial North American Operations. Magnum purchased, received and installed necessary equipment to begin fulfilling open contracts. Magnum raised in excess of $1.4 Million in non-dilutive type financing (promissory notes) including associated warrants at $1.00 to fund operations. When fully executed, the combined debt and warrants will produce in excess of $2,800,000 in proceeds to the Company. Magnum engaged and retained internationally renowned PCAOB audit firm Weinberg & Company. Magnum Joined forces and entered into a Joint Venture with Sekhar Research Innovations http://srielastomers.com/ obtaining exclusive rights to an array of patents, process technology, and trade secrets to develop state-of-the-art and next generation manufacturing equipment, processes, and cutting edge cost saving custom compounds. Magnum retained international accounting firm "Raymond James Grant Thornton" to review its Canadian operational unit. Magnum commenced production activities at its Magog, Canada facility. Magnum announced that it will be featured in multiple television productions focusing on "Environmentally Friendly Technology" and "Next Generation Advanced Technology". Magnum received exposure from high level political visits to its Magog, Canada facility. Magnum continues to work with several private, commercial, and governmental agencies to secure expansion funding.