Electric Metals (USA) Limited Further Strengthens its Board of Directors

Rhea-AI Summary

Electric Metals (USA) (TSXV:EML, OTCQB:EMUSF) announces that Dr. Quinton Hennigh and Mr. Tyson Hall are nominated for election as new directors at the upcoming annual general meeting on June 26, 2024. The additions are part of the company's strategic move to enhance its board with diverse skills as it advances the Emily Project, supported by a new NI43-101 technical report. The current Chair, Oliver Lennox-King, will not stand for re-election. Dr. Hennigh, a renowned geologist, and Mr. Hall, an experienced executive in specialty chemicals and mining, bring valuable expertise to the team.

Positive

• Dr. Quinton Hennigh's extensive experience in gold exploration and successful projects could bolster investor confidence.
• Mr. Tyson Hall's leadership in multi-billion dollar businesses and technical expertise is likely to enhance operational efficiency.
• Filing of an updated NI43-101 technical report for the Emily Project indicates ongoing progress and transparency in operations.
• Strengthening of the board aligns with the company's growth and strategic initiatives.
• Electing reputable industry experts may improve market credibility and attract potential investors.

Negative

• Chairman Oliver Lennox-King's departure might raise concerns about leadership stability.
• The new board members' impact on short-term stock performance remains uncertain until they start contributing to business outcomes.
• Potential investor apprehension about changes in board composition and its long-term effects on company strategy.

TORONTO, ON / ACCESSWIRE / June 3, 2024 / Electric Metals (USA) Limited ("EML" or the "Company") (TSXV:EML)(OTCQB:EMUSF) is pleased to announce that Dr. Quinton Hennigh and Mr. Tyson Hall will stand for election as directors at the Company's upcoming annual general and special meeting to be held on June 26, 2024 at 12 noon EST (the "Meeting"), along with incumbents Brian Savage (also CEO), Dr. Henry Sandri, John Kutkevicius, Megan McElwain and Steve Durbin.

"We are extremely pleased that Dr. Hennigh and Mr. Hall have agreed to join our board," said Oliver Lennox-King, Chair of EML. "The expansion of the EML board reflects the growth and strategic initiatives of the Company as we further advance the Emily Project, for which we have just filed an updated NI43-101 technical report. Their disparate knowledge, experience and technical, operational and financial acumen will be a strong complement to our Company."

Mr. Lennox-King has determined not to stand for re-election at the Meeting. Brian Savage, CEO & Director remarked "on behalf of the entire board we would like to thank Oliver for his steady guidance and strong support of EML. We wish him all the best in the future."

Dr. Quinton Hennigh is an internationally-renowned economic geologist, with over 25 years of exploration experience and expertise with major gold mining companies such as Homestake Mining Company, Newcrest Mining Limited, and Newmont Mining Corporation where he last served as senior research geologist in 2007. He has since made a number of significant gold discoveries for Canadian exploration companies such as the 5 million oz. Springpole alkaline gold deposit near Red Lake, Ontario, for Gold Canyon Resources. He is currently CEO of privately held San Cristobal Mining Inc., Chairman and President of Novo Resources Corporation, which he helped start in 2010 and an adviser to Eskay Mining Corp. and Lion One Metals Ltd. Dr. Hennigh holds a Bachelor of Science from the University of Missouri, and M.Sc. and a Ph.D. in geology and geochemistry from the Colorado School of Mines. He is a member (P.Geo.) of the Society of Economic Geologists, the Mining and Metallurgical Society of America. He is currently CEO of private miner, San Cristobal Mining Inc.

Mr. Tyson Hall brings more than 20 years of global experience and a decade of executive leadership in specialty chemicals, manufacturing, mining, agriculture, and start-ups. He has experience in technical development, manufacturing, and P&L management. He has led organizations as large as 10,000 employees with full P&L responsibility for businesses comprising more than $3 Billion per year in sales. Mr. Hall has served on the global leadership teams of two publicly traded companies. Most recently he served as COO of 5E Advanced Materials (NASDAQ: FEAM) and previously as a member of the global leadership team of Pilgrims Pride (NASDAQ: PPC) with responsibility for a multi-billion dollar business. He is listed as an inventor or coinventor on 5 US patents, holds a BS in Chemical Engineering from the University of Arkansas, and an MBA from the Sam Walton School of Business.

The materials for use in connection with the Meeting have been filed on www.SEDARPLUS.ca under the Company's profile. Shareholders are encouraged to review the materials and vote their proxy in advance of the Meeting. Shareholders with voting rights at the Corporation's next annual meeting following the Meeting to be held in 2025 who wish to submit a proposal to be debated during that meeting must submit their proposals to the Corporation in the period from February 4, 2025 to no later than April 8, 2025.

About Electric Metals (USA) Limited

Electric Metals (USA) Limited (TSXV:EML)(OTCQB:EMUSF) is a U.S.-based mineral development company with manganese and silver projects geared to supporting the transition to clean energy. The Company's principal asset is the Emily Manganese Project in Minnesota, which has been the subject of considerable technical studies, including National Instrument 43-101 Technical Reports - Resource Estimates. The Company's mission in Minnesota is to become a domestic U.S. producer of high purity, high-value manganese metal and chemical products to supply the North American electric vehicle battery, technology and industrial markets. With manganese playing a critical and prominent role in lithium-ion battery formulations, and with no current domestic supply or active mines for manganese in North America, the development of the Emily Manganese Project represents a significant opportunity for America, the State of Minnesota and for the Company's shareholders.

For further information, please contact:

Electric Metals (USA) Limited
Brian Savage
CEO & Director
(303) 656-9197
info@electricmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions.

Forward-looking statements in this news release include, but are not limited to, statements with respect to the candidacy of Dr. Hennigh and Mr. Hall as directors of the Corporation. These statements address future events and conditions and so involve inherent risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, the failure to obtain all necessary stock exchange and regulatory approvals. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

SOURCE: Electric Metals (USA) Limited

View the original press release on accesswire.com

FAQ

What is the significance of Dr. Quinton Hennigh joining the Electric Metals board?

Dr. Quinton Hennigh brings over 25 years of exploration experience, which is expected to strengthen the company's expertise in mining and exploration.

Who are the new nominees for Electric Metals' board of directors?

Dr. Quinton Hennigh and Mr. Tyson Hall are nominated for election as new directors at the upcoming meeting on June 26, 2024.

When is the Electric Metals' annual general meeting?

The annual general meeting is scheduled for June 26, 2024, at 12 noon EST.

What is the stock symbol for Electric Metals (USA) ?

The stock symbol for Electric Metals (USA) is EMUSF.

What recent report did Electric Metals file related to the Emily Project?

Electric Metals recently filed an updated NI43-101 technical report for the Emily Project.

What is the impact of Oliver Lennox-King not standing for re-election?

Oliver Lennox-King’s decision not to stand for re-election may raise concerns about leadership continuity.