In September 2016 MGX entered into an Acquisition Agreement to acquire PurLucid Treatment Solutions Inc. (see press release dated September 15, 2016). MGX can earn an initial 50% interest in PurLucid by making a staged CA$5 million investment and also holds an option acquire a 100% interest for an additional investment of $10 million.
About PurLucid Treatment Solutions
PurLucid has exclusive licensing to, assisted in development of, and deployed proprietary and patented nanoflotation technology that separates oil, to a high degree of purity, from lithium-bearing brine while simultaneously treating wastewater for reuse or simple disposal.
The PurLucid management team includes some of the foremost experts in oil field wastewater management. For more information visit www.purlucid.com.
Integration and Collaboration
Collaboration is underway between MGX and PurLucid to integrate their respective proprietary technologies and develop a scalable modular solution that can be deployed into existing oil and gas fields.
PurLucid’s front-end water purification and pre-treatment system.