11:54:30 EST Fri 27 Jan 2023
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Western Magnesium adds CCMA as U.S. sales agent

2022-12-06 12:03 ET - News Release

Mr. Sam Ataya reports

WESTERN MAGNESIUM SIGNS MEMORANDUM OF UNDERSTANDING WITH CCMA, LLC TO BE EXCLUSIVE SALES AGENT

Western Magnesium Corp. has signed a memorandum of understanding with CCMA LLC where CCMA will be the exclusive sales agent for the United States and for future expansion into the global market for magnesium metal and magnesium-based alloys produced by Western Magnesium. Based in New York, CCMA has emerged as an independent, knowledgeable and innovative trading house focused on metals, alloys and other raw materials. With its years of experience in the magnesium industry, it is a catalyst for global trade, efficiently bridging producers and consumers of raw material commodities. This agreement will combine Western Magnesium's current commercial pilot and full commercial-scale production with CCMA utilizing its vast market knowledge to provide Western Magnesium with target products and customers in different industries throughout the United States.

CCMA will manage the sales, logistics, financing and marketing of Western Magnesium products from the port of departure, all the way to the final consumers. Its familiarity with consumers of commodities makes it an ideal channel for Western Magnesium to utilize.

CCMA will begin to secure purchase orders from its established client base in various industries for the magnesium metal samples produced from the commercial pilot plant. This will include the securing of magnesium metal and alloy supply from Western Magnesium's full-scale commercial facility starting with end-users in the United States such as the automotive, aluminum, die cast and aerospace industries, as well as eco-friendly technology companies.

Sam Ataya, executive president and chief executive officer, said: "To have CCMA represent our green magnesium throughout the United States and future global expansion is a major step forward for Western Magnesium. Working with CCMA will allow us to focus our efforts on our core business of producing magnesium metal and alloys, while CCMA distributes the metal production to end-users. Their experience with logistics, expertise in the magnesium markets and established relationships with end-users addresses this area for the company."

About Western Magnesium Corp.

Western Magnesium's goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labour and energy costs relative to current methods and processes, while being environmentally friendly.

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