MGX Minerals Inc (CSE:XMG) (OTCPINK:MGXMF) has entered into an investor relations agreement with a digital marketing company.
In a statement Wednesday, the Vancouver-based company said FXCT Media Inc will provide corporate, investor and partnership communication services for its Silicon Anode Lithium Ion Battery project.
The move to work with a marketing firm comes after MGX Minerals and its research partner, the University of British Columbia, recently announced the completion of a 1,000 discharge lifecycle test of its silicon anode in a next-generation lithium ion battery.
This next-generation battery has an increased energy storage of 400Wh/kg, and a doubling of capacity over the current ratio of 200Wh/kg.
The silicon anode was produced utilizing a proprietary advanced materials science etching and coating process for treating silicon creating a nanostructured form suitable for use in lithium ion batteries.
The agreement with FXCT is for a period of three months, with compensation to be paid of $15,000 and 300,000 incentive stock options issued, the company said.
In other company news, MGX Minerals also said it has filed a Form 11 with the Canadian Securities Exchange for 5.5 million in incentive stock options at $0.07 apiece with a two-year expiration for officers and consultants of the company. The company added that it plans to cancel up to 4 million incentive options under a previous agreement.
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