Medallion receives $ 792,000 for train of TSX Enterprise Change warrants and choices: MDL
VANCOUVER, British Columbia, March 9, 2021 (GLOBE NEWSWIRE) – Medallion Assets Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – (“Medallion” or the “Firm”), signifies that since January 1, 2021, the Firm has obtained funds for the train of 4,249,014 warrants and choices for gross proceeds of roughly $ 792,000. Warrants and choices have been valued between $ 0.09 and $ 0.40 with a median train value of $ 0.19 per share. Medallion is in a powerful place with greater than $ 2,000,000 in working capital, with ongoing analysis and engineering applications on the extraction and separation of uncommon earth components (REE).
“We’re very happy and grateful to obtain the continued assist of shareholders with the train of practically $ 800,000 in warrants and choices,” stated Mark Saxon, CEO and President. “With a powerful money place, we are able to now interact in longer-term enterprise analysis and growth.”
Uncommon Earth Aspect Separation Know-how Acquisition – Replace
Along with Medallion’s long-term funding in a proprietary course of for the sustainable extraction of uncommon earths from mineral sand monazite, the corporate just lately acquired an unique license for a portfolio of applied sciences, patents and know-how for Ligand-Assisted Displacement Chromatography (LAD) from Purdue College. The license permits Medallion to deploy LAD expertise within the separation and purification of uncommon earth components for all minerals, mineral processing by-products and mining waste uncooked supplies, excluding supplies from the coal. Medallion has entered into discussions with third events to sublicense the LAD expertise and supply extremely fascinating, low environmental impression REE separation.
The LAD system, developed by Linda Wang, PhD, Purdue Professor of Chemical Engineering Maxine Spencer Nichols, was chosen for funding by Medallion after intensive assessment of the REE separation business. The ideas of inexperienced engineering and design utilized by Dr. Wang have been acknowledged by the publication of his analysis within the Journal Inexperienced Chemistry in 2020. LAD chromatography is an aqueous (water-based) course of that doesn’t depend upon solvents from the petrochemical business to function. The expertise relies on a platform broadly used within the pharmaceutical business and offers an environmentally sound methodology for the separation of REEs with low technological threat and is extraordinarily promising.
About Medallion Assets
Medallion Assets has developed a proprietary course of and associated enterprise mannequin to realize short-term, low-cost uncommon earth component (REE) manufacturing by mining monazite. Monazite is a uncommon earth phosphate ore that’s broadly accessible as a by-product of mineral sand mining operations. REEs are important inputs for electrical and hybrid automobiles, electronics, imaging programs, wind generators and strategic protection programs. Medallion is dedicated to following greatest practices and accepted worldwide requirements in all points of mineral transportation, processing and secure waste administration. To study extra about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN), see medallionresources.com.
Mark saxon, President and CEO
Donald lay, Director and Vice-President, Company Growth
+1.604.681.9558 or [email protected]
Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this launch.
Medallion administration takes sole duty for the content material and has ready this press launch. A number of the statements contained on this press launch are forward-looking statements, resembling statements describing Medallion’s plans with respect to the completion of a number of further tranches of the Provide and the meant use of the proceeds. As a result of forward-looking statements cope with future occasions and situations, by their very nature they contain inherent dangers and uncertainties, together with dangers regarding market situations and regulatory approval and different dangers. described within the discussions of the administration of the corporate and the evaluation of the monetary outcomes. Precise leads to every case might differ materially from these at the moment anticipated in such statements. As well as, in an effort to implement Medallion’s plans, further funding shall be required and, relying on market situations, such funding is probably not offered on a schedule or on phrases that facilitate Medallion’s plans. These forward-looking statements are made as of the date of this press launch and, besides as required by relevant securities legal guidelines, Medallion disclaims any intention or obligation to publicly replace any forward-looking statements, whether or not on account of new future info, occasions or outcomes or in any other case.