said March14 that it will be investing C$1.5 million on a 50/50 joint venture with Mag OneProducts Inc. to fund equally the construction of the first magnesium productionand refining production facility for the use of Mag One.
Mag One willuse its proprietary magnesium metal technology to produce magnesium metal and relatedproducts.
Upon the completionof the first facility, Equitorial will have the first right to enter into a further50/50 joint venture for the funding of the construction of the second facility.
Equitorial willalso have the right to fund other production facilities on an exclusive 50/50 jointventure with Mag One once the first two facilities are funded and in operation.
The terms ofthe joint venture shall be set out in a formal agreement once the investment isin place.