MGX Minerals Inc. (MGX) entered into a binding Letter of Intent to acquire an initial 50% interest in PurLucid Treatment Solutions (Canada) Inc. (PurLucid) in exchange for a C$5 million staged investment over two years and MGX has also acquired a license to certain mineral extraction intellectual property from PurLucid and its affiliates and founders.
MGX is a diversified Canadian mining company engaged in the development of large-scale industrial mineral portfolios in western Canada that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. The company operates lithium, magnesium and silicon projects throughout British Columbia and Alberta.
PurLucid has exclusive licensing to and assisted in the development of a patented technology that separates oil, to a high degree of purity, from lithium bearing brine, removing one of the major hurdles of oil field lithium brine production.
Fasken was counsel to MGX with a team that included Sarah Gingrich, Armand Benitah, Ling Wong and Christelle Gedeon.
MGX is a diversified Canadian mining company engaged in the development of large-scale industrial mineral portfolios in western Canada that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. The company operates lithium, magnesium and silicon projects throughout British Columbia and Alberta.
PurLucid has exclusive licensing to and assisted in the development of a patented technology that separates oil, to a high degree of purity, from lithium bearing brine, removing one of the major hurdles of oil field lithium brine production.
Fasken was counsel to MGX with a team that included Sarah Gingrich, Armand Benitah, Ling Wong and Christelle Gedeon.
