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Mazarin Inc. and subsidiary Asbestos Corporation Limited announce an additional investment in KSM Inc.
Mazarin Inc. and subsidiary Asbestos Corporation Limited announce an additional investment...
About this update from Mazarin Inc
[{"type":"text","content":"\n\n\n\nMazarin Inc. and subsidiary Asbestos Corporation Limited announce an additional investment in KSM Inc.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTHETFORD MINES, QC, Dec. 21, 2018\n\n\n\nTHETFORD MINES, QC, Dec. 21, 2018 /CNW Telbec/ - Mazarin Inc. (MAZ.H) and subsidiary Asbestos Corporation Limited (AB.H) announce that Asbestos Corporation has subscribed to additional shares of KSM Inc. as part of the latter's second financing round. This subscription increases Asbestos Corporation's investment to close to $75,000.\nKSM Inc. is a privately-owned company based in Thetford Mines whose objective is to commercialize an innovative process for the production of fertilizers. The developed technology uses potash and sulfuric acid to produce potassium sulphate (SOP) and potassium and magnesium sulphate (SOPM), two high-end fertilizers. Hydrochloric acid is also produced as a by-product. The requisite magnesium may be found in the chrysotile tailings present in large quantities in the Thetford Mines area.\nThe financing round totalling $2.5 million initiated by KSM will allow it to build and operate a demonstration plant. The major objective of this plant is to migrate the process from a batch mode to a continuous mode, to fine tune the closed-loop process and to generate sufficient samples to be used for tests in fields. Several strategic partners are involved with the project including Sustainable Development Technology Canada which has announced a $992,000 grant. KSM also filed a demand with the Fonds de diversification économique de la MRC des Appalaches for a $600,000 interest-free loan.\nKSM's ultimate objective is to construct and operate in the Thetford Mines area a commercial scale plant capable of producing 55,000 tons/year of fertilizers.\nFORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward-looking statements as a result...