viewMGX Minerals Inc.

MGX Minerals updates on spin-off plans for ZincNyx

The company has not yet made any application to list the ZincNyx shares but if all goes to plan, MGX shareholders will end up owning one-third of the company

Initial public offering
The financial audit of ZincNyx has been completed

MGX Minerals Inc (CNSX:XMG) said its wholly-owned subsidiary ZincNyx Energy has received the first shipment of components for its zinc-air fuel cell battery.

The regenerator and fuel cell parts form the nucleus of ZincNyx's commercial mass storage system that will provide four times the capacity of earlier models.

READ MGX Minerals surges after agreeing to acquire stake in three Chilean lithium exploration projects​

MGX plans to spin-off ZincNyx Energy Solutions as a separate listed company and said the filing of the preliminary prospectus is expected soon. The plan is for MGX to retain 66.6% of the share capital of ZincNyx with MGX shareholders receiving shares amount to one-third of the share capital by way of a “dividend in kind” distribution.

Shares in MGX were up 1.2% at C$0.86.

Quick facts: MGX Minerals Inc.

Price: 0.08 CAD

Market: CSE
Market Cap: $11.23 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 26/8/19

2 min read