Li-Metal Corp. Announces Update to Board of Directors and Proposed Change of Business
Li-Metal Corp (CSE: LIM) (OTCQB: LIMFF) announces significant changes to its Board of Directors and plans to transform from a lithium anode development company to an investment company. The board changes include the departure of Anthony Tse and Colin Farrell, replaced by Brad Morris and David Delaney, with Tim Johnston becoming the new Chairman. Morris brings M&A and securities law expertise, while Delaney contributes investment and portfolio management experience. The strategic transition to an investment company aims to capitalize on high-growth opportunities and requires both shareholder and Canadian Securities Exchange approval.
Li-Metal Corp (CSE: LIM) (OTCQB: LIMFF) annuncia cambiamenti significativi nel suo Consiglio di Amministrazione e piani per trasformarsi da azienda di sviluppo di anodi in litio a società di investimento. Le modifiche al consiglio includono l'uscita di Anthony Tse e Colin Farrell, sostituiti da Brad Morris e David Delaney, con Tim Johnston che diventa il nuovo Presidente. Morris porta competenze in fusioni e acquisizioni e diritto dei titoli, mentre Delaney contribuisce con la sua esperienza in investimenti e gestione di portafoglio. La transizione strategica verso una società di investimento mira a capitalizzare sulle opportunità di alto crescita e richiede l'approvazione sia degli azionisti che della Borsa canadese.
Li-Metal Corp (CSE: LIM) (OTCQB: LIMFF) anuncia cambios significativos en su Junta Directiva y planes para transformarse de una empresa de desarrollo de ánodos de litio a una empresa de inversión. Los cambios en la junta incluyen la salida de Anthony Tse y Colin Farrell, reemplazados por Brad Morris y David Delaney, con Tim Johnston convirtiéndose en el nuevo Presidente. Morris aporta experiencia en fusiones y adquisiciones y derecho de valores, mientras que Delaney contribuye con su experiencia en inversiones y gestión de carteras. La transición estratégica a una empresa de inversión busca capitalizar oportunidades de alto crecimiento y requiere la aprobación de los accionistas y de la Bolsa de Valores de Canadá.
Li-Metal Corp (CSE: LIM) (OTCQB: LIMFF)는 이사회의 중대한 변화를 발표하고 리튬 음극 개발 회사에서 투자 회사로의 전환 계획을 알렸습니다. 이사회 변화에는 Anthony Tse와 Colin Farrell의 퇴임이 포함되며, 이들은 Brad Morris와 David Delaney로 대체되고 Tim Johnston이 새로운 의장이 됩니다. Morris는 M&A 및 증권 법률 전문성을 제공하며, Delaney는 투자 및 포트폴리오 관리 경험을 기여합니다. 투자 회사로의 전략적 전환은 높은 성장 기회를 활용하는 것을 목표로 하며, 주주 및 캐나다 증권 거래소의 승인이 필요합니다.
Li-Metal Corp (CSE: LIM) (OTCQB: LIMFF) annonce des changements significatifs au sein de son Conseil d'administration et des projets de transformation d'une entreprise de développement d'anodes en lithium en société d'investissement. Les changements au conseil incluent le départ d'Anthony Tse et de Colin Farrell, remplacés par Brad Morris et David Delaney, Tim Johnston devenant le nouveau Président. Morris apporte son expertise en fusions et acquisitions ainsi qu'en droit boursier, tandis que Delaney contribue avec son expérience en investissements et en gestion de portefeuille. La transition stratégique vers une société d'investissement vise à capitaliser sur les opportunités à forte croissance et nécessite l'approbation des actionnaires ainsi que celle de la Bourse canadienne des valeurs mobilières.
Li-Metal Corp (CSE: LIM) (OTCQB: LIMFF) gibt bedeutende Änderungen im Vorstand bekannt und plant, sich von einem Lithium-Anodenentwicklungsunternehmen zu einem Investmentunternehmen zu wandeln. Die Änderungen im Vorstand umfassen den Rücktritt von Anthony Tse und Colin Farrell, die durch Brad Morris und David Delaney ersetzt werden, wobei Tim Johnston der neue Vorsitzende wird. Morris bringt Expertise in Fusionen und Übernahmen sowie im Wertpapierrecht mit, während Delaney Erfahrung in Investitionen und Portfoliomanagement einbringt. Der strategische Übergang zu einem Investmentunternehmen zielt darauf ab, von Wachstumschancen zu profitieren und erfordert sowohl die Zustimmung der Aktionäre als auch der kanadischen Wertpapierbörse.
- Strategic pivot to investment company model could provide better returns and diversification
- Addition of board members with strong investment and M&A expertise
- Complete departure from core lithium anode business indicates challenges in original business model
- Transition suggests current market dynamics limit immediate returns in battery industry
- Strategic shift requires regulatory and shareholder approval, creating execution uncertainty
Toronto, Ontario--(Newsfile Corp. - December 2, 2024) - Li-Metal Corp. (CSE: LIM) (OTCQB: LIMFF) (FSE: 5ZO) ("Li-Metal" or the "Company") announces changes to its Board of Directors and that the Company intends to seek shareholder approval to change its business from an industrial issuer to an investment issuer.
Board of Directors Update
The Company announces changes to the Board of Directors including the departure of Anthony Tse and Colin Farrell and the addition of Brad Morris and David Delaney. In addition, the role of Chairman of the Board, previously held by Anthony Tse, will transition to existing Board member Tim Johnston. With his extensive industry experience and proven leadership, Tim Johnston is well-positioned to lead the Board in supporting the Company's evolving strategy.
The Company would like to thank Mr. Tse and Mr. Farrell for their invaluable contributions and leadership, which have been instrumental in shaping the Company's success to date. "From the Li-Metal team we would like to extend our gratitude to Anthony and Colin for their valued contribution to the Li-Metal business as Non-Executive Chair and Audit Committee Chair," commented Tim Johnston, Chairman and Co-Founder of Li-Metal.
Mr. Morris is an M&A and securities lawyer with experience advising venture capital firms and growth companies on M&A, corporate finance, strategic partnerships, and governance. Since 2018, he has served as in-house counsel to a venture capital firm while leading corporate development efforts for several leading growth companies. Over the course of his career, Mr. Morris has advised on complex cross-border transactions across various sectors, including strategic acquisitions, seed and follow-on financings, IPOs & reverse mergers.
Mr. Delaney is an investment professional with expertise in portfolio management, capital allocation, and investment analysis. Since 2017, he has been the President and Portfolio Manager of Concord Delta Inc., an investment and advisory firm focused on listed equities, private investment, and advisory services in various sectors. Previously, he served as a Managing Director at Firm Capital, a national real estate investor. Prior thereto, Mr. Delaney was employed by Freed Developments in increasingly senior positions, managing high-rise residential developments through acquisition, rezoning, sales, and completion. Since 2018, Mr. Delaney has served on the board of Parkit Enterprises, a real estate investment company, acting as Executive Chairman from 2018-2019. Since 2024, Mr. Delaney has served on the board of Rocky Mountain Liquor.
Strategic Transition
In a significant step forward, Li-Metal announces its intention to transition from a lithium anode development and production company to an investment company. This change of business is designed to capitalize on emerging opportunities in high-growth sectors while leveraging the Company's financial strength and market insights.
"Our decision to evolve into an investment company aligns with our long-term vision to deliver sustainable value for our stakeholders," said Tim Johnston, Chairman. "While the next-generation battery industry remains critical, the current market dynamics present challenges that limit immediate returns. This new direction allows us to diversify and strategically deploy capital into areas where we can achieve meaningful impact and returns."
"I look forward to supporting the Company as it transitions from an industrial issuer to an investment issuer," stated David Delaney. "Given the current market environment, I believe that we will see many opportunities for deploying the Company's resources in accretive and meaningful ways. I am excited to join the team to help drive this forward."
Brad Morris added, "I am honored to join the Board during this pivotal moment in the Company's journey. The transition to an investment-focused strategy provides an exciting opportunity to leverage our expertise and resources to explore a broader range of high-potential industries. I am confident that this shift will position the company for long-term success and create value for all stakeholders."
The proposed change of business is subject to shareholder approval and approval of the Canadian Securities Exchange.
The Company is committed to keeping stakeholders informed as this transition progresses, ensuring a seamless shift that supports its mission of innovation and value creation. If you have any questions, please contact us as indicated below.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements about, among other things, the Company's strategic plans and the financings are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the development of the business of the Company will be completed as described above or that the financings will be completed. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.
Li-Metal Investor Contact: Keshav Kochhar
Telephone: +1 647 494 4887
Email: ir@li-metal.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232138
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