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Off-market insider buying at MGX Renewables (:MGXR)

Updated Thursday Sep 19, 2019 01:53 AM EDT

David Hodge, a Director, acquired 2,083,333 Common Shares on a direct ownership basis at a price of $0.060 through a private transaction on September 9th, 2019. The insider also acquired 2,083,333 Warrants with an exercise price of $0.080 for two years. This represents a $125,000 investment into the company's shares and an account share holdings change of greater than 100%.

MGX Renewables is in the Electrical Components & Equipment Sub Industry Group under the Industrials Sector.

ZINCNYX Energy Solutions Inc is a Canada-based company, which is engaged in the development and commercialization of a dependable renewable energy sources. The Company's flow battery technology uses zinc and air as fuel. Its flow battery technology has various applications, including renewables firming, remote sites, small communities, essential services support and commercial and industrial backup. Its modular energy storage system delivers backup power in the range of 5 to 100 kilo watts (kW). It consists of a rechargeable zinc-air fuel cell technology, through which it supports a range of discharge power, recharge power and duty cycle requirements. Its battery management system enables the system to be configured for various alternating current (AC)/ direct current (DC), load/source environment. Its energy storage system deals with various discharge periods by varying the size of the fuel tank. MGX Renewables Inc. (MGXR) has below median officer and director direct ownership compared to its micro-cap peers in the market, based on our estimate using SEDI data. According to regulatory filings yesterday, one insider has invested a total amount of $125,000.

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