MGX to Disrupt the Energy Storage Sector with Acquisition of ZincNyx Technology
ZURICH, SWITZERLAND / ACCESSWIRE / December 13, 2017 / Today, MGX Minerals Inc. (CSE: XMG; OTCQB: MGXMF; Frankfurt: 1MG) announced to have signed a definitive agreement to acquire 100% of ZincNyx Energy Solutions Inc., a Canadian company that was founded in 2012 to develop a modular energy storage system (ESS). The company's primary funding partner is mining giant Teck Resources Ltd., a $13 billion USD market cap company that trades on the NYSE.
One the one hand, Teck's divestment of ZyncNyx reflects a move to focus on its core mining assets and not technology - and on the other hand this deal is a windfall for MGX after almost $15 million of investments into the ZyncNyx technology which is nearing commercial deployment and includes 20 awarded patents with 3 additional patents pending filed this year alone.
It's mainly an acquisition against equity (3.7 million restricted shares of MGX plus $250,000 CAD), with most of the restricted shares to be vested over 24 months as part of compensation and incentive plan for key employees. This gives me strong confidence that others, like ZincNyx/Teck, also believe in MGX's vision and capability to create vast shareholder value, respectively that MGX's current share price offers great appreciation potential. Teck sees broad implications in this technology for how society generates and uses energy.
The full report can be accessed with the following links:
English: http://rockstone-research.com/index.php/en/research-reports/3945-Driving-into-the-realms-of-Tesla-&-Co:-MGX-Acquires-Mass-Storage-Battery-Technology-from-Teck-Resources
German: http://rockstone-research.com/index.php/de/research-reports/3946-Einfahrt-in-das-Koenigreich-von-Tesla-&-Co
Disclaimer: Please read the full disclaimer within the full research report as fundamental risks and conflicts of interest exist.
SOURCE: Rockstone Research
