NetworkNewsBreaks – MGX Minerals Inc. (CSE: XMG) (FKT: 1MG) (OTCQB: MGXMF) Increases Ownership Stake in PurLucid Treatment Solutions
Diversified resource and technology company MGX Minerals Inc. (CSE: XMG) (FKT: 1MG) (OTCQB: MGXMF) this morning announced that it has increased its ownership stake in engineering partner PurLucid Treatment Solutions from 34 percent to 46 percent by way of a C$1.45 million investment. MGX maintains the right to acquire 100 percent of PurLucid in the future through successive investments. Since originally announcing an acquisition and engineering partnership agreement in September 2016, MGX and PurLucid have invented new technology and filed patent applications related to brine treatment and selective lithium recovery. Central to these efforts has been PurLucid’s exclusively licensed nanofloatation technology, which purifies wastewater brine and has been integrated with a newly developed lithium recovery process to reduce the capital cost of recovery, as compared with traditional solar evaporation.
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