Western Magnesium Appoints Interim CFO
Western Magnesium Corporation (MLYF) has appointed Steve Thorlakson as Interim CFO, effective immediately. Thorlakson, a long-time Board member, brings over 30 years of financial and business management expertise. He previously served as interim CFO from 2016-2017. The company will initiate a formal search for a permanent CFO in the coming months. Western Magnesium aims to produce green primary magnesium metal using cost-effective and environmentally friendly methods, potentially positioning itself competitively in the market.
- Steve Thorlakson's extensive experience could bring stability and effective financial management.
- Thorlakson's prior role as interim CFO demonstrates familiarity with the company's financial processes.
- Transitioning leadership may disrupt current financial strategies or operations.
- The search for a permanent CFO could create uncertainty among investors and stakeholders.
WASHINGTON, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Western Magnesium Corporation (WMC) (TSXV: WMG.V; Frankfurt-3WM; OTCQB: MLYF) (“Western Magnesium” or the “Company”) announces the appointment of long-time Board member Steve Thorlakson as Interim CFO, effective immediately.
Mr. Thorlakson brings extensive financial and business management expertise, having worked more than three decades within the financial services and construction industry, and has proven success in the construction project management and logistics sectors. He has been a trusted member of the Company’s Board of Directors for nearly a decade.
Mr. Thorlakson skillfully executed financial responsibilities for Western Magnesium as interim CFO between 2016-2017. Mr. Thorlakson replaces Mr. Ramsey Hamady.
The Company will launch a formal search process to identify a permanent replacement in the coming months.
About Western Magnesium
Western Magnesium's goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs relative to current methods and processes, while being environmentally friendly.
Media Relations & Corporate Communications
Ashleigh Barry | abarry@westmagcorp.com | (202) 258-4453
Investor Relations
John Ulmer | julmer@westmagcorp.com | (604) 423-2709
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to several factors, including the Company's dolomite reserves may not be mined because of technical, regulatory, financing, or other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able to hire and retain skilled employees. The Company undertakes no obligation to update forward-looking information except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
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FAQ
Who is the new Interim CFO of Western Magnesium Corporation (MLYF)?
When did Steve Thorlakson become Interim CFO of MLYF?
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Will Western Magnesium (MLYF) conduct a search for a permanent CFO?
