viewMGX Minerals Inc.

MGX Minerals receives British Columbia court approval for spinoff of MGX Renewables

The deal is subject to approval of shareholders at a January 11 meeting

The chemical symbol for zinc
MGX Minerals says it has begun testing on a zinc regeneration module

MGX Minerals Inc (CSE:XMG) (OTCMKTS:MGXMF) said Tuesday that it has received interim court approval to complete a 40% share spinoff of MGX Renewables.

Vancouver-based MGX Minerals, a developer of lithium, magnesium and silicon projects, said in a press release that the spinoff is subject to approval of shareholders at a January 11 meeting. The spinoff was approved in an interim order from the Supreme Court of British Columbia, according to MGX Minerals.

MGX Renewables was formerly known as ZincNyx Energy Solutions Inc.

READ: MGX Minerals' ZincNyx Energy subsidiary renamed as MGX Renewables Inc; unveils spin-out details

In addition, MGX Minerals said testing has begun for the MGXR ZRM-4500, a zinc regeneration module that uses electricity to extract zinc particles from a potassium zincate solution.

The ZRM-4500 is a key component of a patented zinc-air energy storage system. In this system, energy is stored in the form of zinc particles, similar in size to grains of sand. When the system is recharging, the zinc particles are regenerated and the evolved oxygen is returned to the surrounding air by the zinc regeneration module.

Earlier this month, MGX Minerals said its joint-venture partner Chilean Lithium Salars had started drilling in Chile.

Shares of MGX Minerals slipped C$0.03 to C$0.42 in Monday’s Canadian trading. They were down US$0.03 to US$0.30 on the OTC Markets.


Contact Dennis Fitzgerald at [email protected]


Quick facts: MGX Minerals Inc.

Price: 0.15 CAD

Market: CSE
Market Cap: $21.06 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of MGX Minerals Inc. named herein, including the promotion by the Company of MGX Minerals Inc. in any Content on the Site, the Company receives...



Full interview: MGX Minerals prepares for delivery of equipment to start...

MGX Minerals (CSE: XMG-OTCQB: MGXMF) CEO and President Jared Lazerson joined Steve Darling from Proactive Vancouver to bring news the company is preparing to start, along with their partner Eureka Resources, to recover lithium from water produced at non-conventional oil and gas...

on 08/26/2019

2 min read