Magnetic North Acquisition Corp., along with Cirque Innovations Ltd. (Cirque), announced launch of commercial operations for CXTL Recycling Canada Corp. (CXTL). CXTL will use Cirque’s recycling technology to break down plastics into saleable products, leaving virtually no waste behind. Magnetic North has, through its investee company CXTL, been working closely with Cirque over a ten (10) month period to complete required due diligence, including a third-party report that certified the inputs (plastic waste), the technology, and the outputs (saleable products). During the past three months of demonstration operations, the machine has worked successfully on a variety of materials containing plastics and other substances. Magnetic North and Cirque will jointly own CXTL on a 50/50 basis. Cirque will contribute the technology and management, and Magnetic North will contribute capital, and management expertise as needed. As a result, CXTL will be the exclusive worldwide operator of the technology. Furthermore, Magnetic will acquire from Cirque, the demonstration machine for 350,000 Series A Preferred Shares and $500,000 in cash. This demonstration machine will become part of CXTL’s operations. CXTL will commence limited commercial operations and revenue generation within the next few weeks from its current facility. Several feedstocks have been identified and formal contracts will be completed in the near term. Magnetic North, Cirque, and CXTL are currently evaluating and designing large-scale commercial facilities for operations in a number of North American municipalities.