Medallion holds 4,800,000 common shares, 2,500,000 performance rights that convert into common shares upon successful completion of a pilot plant incorporating the Medallion Monazite Process (MMP), and an additional 750,000 performance rights that convert into common shares upon commercial production. Medallion owns approximately 7% of the issued shares of ACDC and, upon conversion of all performance rights to common shares, Medallion would own 8,050,000 shares, or approximately 10.2% of the total 78,555,130 shares that would then be outstanding.
ACDC is an integrated mineral exploration and resource development company focusing on heavy mineral sand projects located in
ACDC plans to spend approximately
Monazite is a by-product of heavy mineral sand processing. as well as a primary ore at
Medallion and ACDC have also agreed to collaborate on advancing a rare earth refinery to process mixed REE compounds to produce separated rare earth oxides (REOs) using the Ligand Assisted Displacement (LAD) Chromatography process developed by
Medallion believes that LAD Chromatography, which targets individual elements in contrast to conventional multi-stage group separation of elements, will have environmental, health, financial, and operational advantages over established liquid-liquid or alternative liquid-solid processes.
'Congratulations to the ACDC team for a successful IPO in these difficult times, indicating strong investor interest in rare earths and the company's assets in particular. ACDC's success is an important step towards commercializing Medallion's critical mineral processing technologies,' stated
Since joining Medallion, Mr.
In mid-January the Company plans to summarize its objectives for technology commercialization including partnering with strong technology providers, upstream feedstock suppliers, and downstream offtakers.
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T: +1 212 867 1834
E: douglas.newby@mdl-innovations.com
Neither
Medallion management takes full responsibility for the content of and has prepared this news release. Some of the statements contained in this release are forward-looking statements, such as statements regarding the commercialization of its technologies and opportunities for expansion of the technology portfolio in the future, and any statements that describe Medallion's plans with respect to general strategic matters and the advancement of its business plan, and Medallion's ability to advance and commercialize its technology platforms and negotiate commercial agreements with third parties.
Forward-looking statements are frequently, but not always, identified by words such as 'expects,' 'anticipates,' 'believes,' 'intends,' 'estimates,' 'potential,' 'possible,' 'projects,' 'plans,' and similar expressions, or statements that events, conditions or results 'will,' 'may,' 'could,' or 'should' occur or be achieved or their negatives or other comparable words. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, including the risks related to market conditions and regulatory approval and other risks outlined in the Company's management discussions and analysis of financial results. Actual results in each case could differ materially from those currently anticipated in these statements. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, Medallion disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required pursuant to applicable laws.
This release is neither an offer to sell, nor the solicitation of an offer to buy, the Company's securities in the
Contact:
President & CEO
T: +44 777 762 9596
E: alfredo.ramos@mdl-innovations.com
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