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Magna Mining to Resume Trading Following Signing of Definitive Agreement to Acquire Lonmin Canada Inc.
Sudbury, Ontario--(Newsfile Corp. - September 7, 2022) - Magna Mining Inc. (TSXV: NICU) (the "...
About this update from Magna Mining Inc
[{"type":"text","content":"Magna Mining to Resume Trading Following Signing of Definitive Agreement to Acquire Lonmin Canada Inc.Sudbury, Ontario--(Newsfile Corp. - September 7, 2022) - Magna Mining Inc. (TSXV: NICU) (the \"Company\" or \"Magna Mining\") is pleased to announce that, as set out in the bulletin of the TSX Venture Exchange (the \"TSX-V\") issued yesterday afternoon, its common shares will resume trading on Thursday, September 8, 2022. The trading halt was imposed by the TSX-V, in connection with the Company's announcement that it had signed a definitive share agreement (the \"Definitive Agreement\") to acquire 100% of Lonmin Canada Inc., including the Denison project and the past producing Crean Hill Ni-Cu-PGE mine (the \"Acquisition\").The Acquisition remains subject to, among other things, approval by the TSX-V, including the satisfaction of any customary conditions imposed by the TSX-V. In accordance with the policies of the TSX-V, the Company has prepared a technical report in respect of the Denison project (the \"Denison Technical Report\") pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects. A draft of the Denison Technical Report has been provided to the TSX-V for review and the Company intends to file the Denison Technical Report upon satisfying any comments of the TSX-V. There is no certainty that the Denison Technical Report will be filed in the immediate term. For further information on the Acquisition, please see the news release of the Company dated August 16, 2022.About Magna MiningMagna Mining is an exploration and development company focused on nickel, copper and PGM projects in the Sudbury Region of Ontario, Canada. The Company's flagship asset is the past producing Shakespeare Mine which has major permits for the construction of a 4500 tonne per day open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous 180km2 prospective land package. Additional information about the Company is available on SEDAR (www.sedar.com) under the Company's issuer profile and on the Company's website (www.magnamining.com).For further information on this press release, visit www.magnamining.com or contact:Jason JessupChief Executive OfficerorPaul Fowler, CFA Senior Vice PresidentEmail: [email protected] Statement Regarding Forward-Looking InformationThi...