Lithion Energy Corp to Appoint Warren Gilman as Chairman and Alex Granger as Chief Executive Officer
TSX VENTURE: LNC
Vancouver, British Columbia--(Newsfile Corp. - April 16, 2019) - Lithion Energy Corporation (TSXV: LNC) (the "Company" or "Lithion") is pleased to announce that it will appoint Mr. Warren Gilman as Chairman and Alex Granger to the position of CEO and Director after the completion of a private placement.
Mr. Gilman, a mining engineer, has more than 30 years of experience as a deal maker in the metals and mining sector. He was a founder of the Canadian Imperial Bank of Commerce ("CIBC") Global Mining Team in Toronto in 1988. He subsequently led the team's efforts out of Australia and Hong Kong. During his time with CIBC, Mr. Gilman was responsible for some of the largest equity capital markets financings in Canadian mining history. He served as advisor to the largest mining companies in the world including BHP, Rio Tinto, Anglo American, Noranda, Falconbridge, Meridian Gold, China Minmetals, Jinchuan and Zijin.
From 2011, Mr. Gilman led CEF Holdings Ltd., a global mining investment company, owned 50% by CIBC and 50% by CK Hutchison Holdings Ltd. Despite operating in one of the most challenging mining markets in decades, Mr Gilman was responsible for a number of highly successful mining investments including Niobec Ltd. (niobium in Quebec) and NexGen Energy Ltd. (uranium in Saskatchewan) and he serves as a director for both companies.
Mr. Gilman obtained his B.Sc. in Mining Engineering at Queen's University and his MBA from the Ivey Business School at Western University. He is Chairman of the International Advisory Board of Western University and a member of the Dean's Advisory board of Laurentian University.
Mr. Granger is Managing Director of Xela Group Ltd., a consulting firm to the junior metals & mining sector. From 2010-16, he served as Chief Executive Officer of Barisan Gold Corp., the predecessor company to Lithion Energy Corp. Alex has fifteen years of experience in the investment banking and capital market industry covering the metals and mining sector. Ten of those years were spent in the Asia Pacific region with CIBC covering companies based in East Asia and Australia. Mr. Granger holds a Bachelor of Commerce degree from McGill University.
The Company also announces that it will complete a non-brokered private placement of 7,000,000 common shares to Mr. Gilman and Mr. Granger for aggregate gross proceeds of $350,000 at a price of $0.05 per common share. The completion of the private placement is subject to the approval of the TSX Venture Exchange. No finder's fees are payable in connection with the private placement. The proceeds of the private placement will be used for general and administrative expenditures, maintenance of the Company's mineral properties and a reserve for asset acquisition investigations. The appointment of Mr. Gilman and Mr. Granger will occur after the closing of the private placement.
Darren Smith will tender his resignation as a member of the Company's board to focus his efforts on his other professional duties. The Company wishes to thank Mr. Smith for his valued contributions to Lithion Energy Corp over the past two years. In addition, Shawn Westcott will tender his resignation as President of Lithion.
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.
Caution Regarding Forward Looking Statements
Certain statements in this News Release, which are not historical in nature, constitute "forward looking statements" within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning the Company's growth strategy and the Company's future performance. These statements reflect management's current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, inability to identify or successfully conclude corporate transactions, and other relevant conversion factors, permitting and licensing risks; and general market and mining exploration risks. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward-looking statements to reflect events or changes in circumstances that occur after the date hereof.