Lodestar Provides Corporate Update

Rhea-AI Summary

Lodestar Battery Metals (TSXV: LSTR, OTCQB: SVTNF) has appointed Kyle Appleby as its new Chief Financial Officer, succeeding Killian Ruby. Appleby brings over 20 years of extensive experience in financial reporting, IPOs, fundraising, and corporate governance.

Additionally, Scott Margach has resigned as Executive Vice President but will remain as an independent director. Gary Prihar and Killian Ruby have also resigned as directors, leaving the board with three members: Lowell Kamin, Scott Margach, and Leo Horn, with Margach and Horn being independent.

The company has also granted options to purchase 800,000 common shares at $0.05 per share, fully vested and expiring in five years.

Positive

• Appointment of an experienced CFO, Kyle Appleby, with over 20 years in financial reporting, IPOs, and corporate governance.
• Granting of 800,000 stock options at $0.05 per share, potentially incentivizing directors.

Negative

• Resignations of key executives and directors, including Scott Margach as EVP, and directors Gary Prihar and Killian Ruby, potentially causing instability.

Vancouver, British Columbia--(Newsfile Corp. - June 28, 2024) - Lodestar Battery Metals (TSXV: LSTR) (OTCQB: SVTNF) ("Lodestar" or the "Company"), is pleased to announce that it has appointed Kyle Appleby as Chief Financial Officer of the Company to fill the vacancy of outgoing Chief Financial Officer Killian Ruby. The Company would like to thank Mr. Ruby for his services as Chief Financial Officer of the Company.

Mr. Appleby is a seasoned Chief Financial Officer who has spent the first 10 years of his career working in public accounting where he worked in both audit and advisory practices working with private companies and investment funds. He has been the Chief Financial Officer for numerous companies, listed in Canada, U.S. and London and has extensive experience in financial reporting, IPOs, fund raising, and corporate governance. He holds a Chartered Professional Accountant designation and is a member in good standing of the Chartered Professional Accountants of Ontario and Canada. Over a 20-year career, Kyle has provided CFO services to a number of public and private companies, both in Canada and abroad. He has a strong record of assisting companies with financial reporting and controls, governance, operations, financing, regulatory compliance and taxation. Kyle is a member in good standing of the Chartered Professional Accountants of Canada and the Chartered Professional Accountants of Ontario.

In addition, Mr. Scott Margach has resigned as Executive Vice President and will remain as an independent director of the Company. Mr. Gary Prihar and Killian Ruby have also resigned as a director of the Company. As a result of the above noted changes, the Company's board will consist of three directors: Mr. Lowell Kamin, Scott Margach and Leo Horn. Of the three directors, Mr. Scott Margach and Mr. Leo Horn will be independent directors of the Company.

Grant of Stock Options

Lodestar also announces it has granted options to purchase 800,000 common shares to its independent directors. The options are exercisable at $0.05 per share, fully vested and expire five years from the date of grant.

About Lodestar Battery Metals Corp.

Lodestar Battery Metals Corp. is a Canadian mining exploration company focused on the critical metals space. The Company's 100% owned flagship Peny Property comprises of 47 mineral claims totalling 11,191 hectares in the Snow Lake District, Manitoba, with access to tier-1 existing infrastructure: railway, roads, airstrip, and power. The Company also owns 100% interest in two significant silver assets in Mexico. The Company intends to build a strong portfolio of battery metals projects to drive future growth through exploration success and from later-stage projects with production potential. The Lodestar business plan calls for a dynamic combination of developing its existing properties, acquisitions, and partnerships to achieve this growth. For more information, visit https://lodestarbatterymetals.ca/.

Contacts

Lodestar Battery Metals Corp.
Lowell Kamin, President, CEO & Chairman of the Board
(416) 272-1241
lowell@lodestarbatterymetals.ca

Investor Relations
Alyssa Barry, IR Labs Inc.
1-(833)-947-5227
alyssa@irlabs.ca

Forward-Looking Statements

The information set forth in this news release contains forward-looking statements based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Lodestar cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by several material factors, many of which are beyond Lodestar's control. Such factors include, among other things, risks and uncertainties relating to Lodestar's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates.

NEITHER 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214886

FAQ

What recent executive changes occurred at Lodestar Battery Metals (SVTNF)?

Kyle Appleby was appointed as the new CFO, replacing Killian Ruby. Scott Margach resigned as EVP but remains an independent director. Gary Prihar and Killian Ruby have resigned as directors.

Who is the new CFO of Lodestar Battery Metals (SVTNF)?

Kyle Appleby has been appointed as the new Chief Financial Officer of Lodestar Battery Metals.

What experience does Kyle Appleby bring to Lodestar Battery Metals (SVTNF)?

Kyle Appleby has over 20 years of experience in financial reporting, IPOs, fundraising, corporate governance, and has served as CFO for numerous companies in Canada, U.S., and London.

What stock options were granted by Lodestar Battery Metals (SVTNF)?

Lodestar granted options to purchase 800,000 common shares at $0.05 per share, fully vested, expiring in five years.

How many directors are currently on the board of Lodestar Battery Metals (SVTNF)?

The board currently consists of three directors: Lowell Kamin, Scott Margach, and Leo Horn, with Margach and Horn being independent.