TORONTO, Dec. 6, 2023 /CNW/ - Electric Metals (USA) Limited ("EML" or the "Company") (TSXV: EML) (OTCQB: EMUSF) announces that its Chief Executive Officer, Gary Lewis, has submitted his resignation as an officer of the Company to take effect on March 1, 2024, or such earlier date as determined by the Board of Directors. Gary will remain involved with the Company until his departure and will work with the Board to find a replacement. The Company is already in talks with several highly qualified candidates and expects to announce a new Chief Executive Officer prior to March 1, 2024.
About Electric Metals (USA) Limited
EML 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 a National Instrument 43-101 Technical Report ? Resource Estimate, with over US$26 million invested to date. The Company's mission in Minnesota is to become a domestic U.S. producer of high-purity, high-value manganese metal and chemical products for supply to U.S. energy, 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 North America, the State of Minnesota and for the Company's shareholders. In addition, the Company owns and operates the Corcoran Silver-Gold Project and the Belmont Silver Project in Nevada, with the former also having been the subject of a National Instrument 43-101 Technical Report ? Resource Estimate.
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.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on EML's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this news release contains forward-looking information relating to, among other things, the timing of Mr. Lewis' departure, finding a suitable replacement of the chief executive officer and the future operations of the Company.
While EML considers these statements to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to regulatory risks, risks that Mr. Lewis departs earlier than anticipated, risks related to the market for senior officers, capitalization and liquidity risks and other risks with respect to conditions of the Company's operations. Please refer to EML's public disclosure record on SEDAR at www.sedar.com for additional risks that may affect EML.
The forward-looking information contained in this news release is made as of the date hereof, and EML is not obligated, and does not undertake, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE Electric Metals (USA) Limited
These press releases may also interest you