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International Battery Metals Ltd ANNOUNCES LIBOR MICHEL AS CO-CEO AND DOUG SMITH AS CFO
By: International Battery Metals on Dec 11, 2023 2:04:00 PM
Mr. Michel has decades of experience as a strategic advisor to companies in the energy and energy transition sectors, raising substantial capital and driving transformative acquisition transactions. Mr. Michel joins us after a successful investment banking career at Stifel and Jefferies in their Houston offices.
Mr. Flowers will continue to lead the day-to-day operations and oversee the construction, mobilization and operation of the Company’s current and future production facilities. Mr. Michel’s primary focus will be corporate development and capital markets activity funding the commercialization of the Company’s industry leading technologies.
Mr. Smith joins the Company with over 30 years of experience working with high growth companies, including experience in oilfield services and seismic survey companies which geographically overlap with the worlds’ lithium resources. Mr. Smith will be responsible for the accounting, audit, tax and financing plans as we mobilize the Company’s production facilities.
"Libor has quickly become our trusted advisor. His joining me as Co-CEO will solidify our already strong management team and give us firepower to move our Company to the next level. We already have a great working relationship, and I look forward to collaborating together to drive value for our shareholders. Doug walks in day 1 as a seasoned CFO, with great agility, and adding bench strength to our senior leadership team," said Mr. Flowers.
"Libor brings a critical skill set to IBAT. His deep experience in corporate finance and financial transactions will complement the strong operating experience of Garry Flowers and the groundbreaking scientific accomplishments of John Burba. In addition, Doug Smith’s impressive experience as a CFO across multiple industries will give IBAT an executive team on which we can build an innovative, successful future in direct lithium extraction." said William Webster, Chairman of the Board of Directors of the Company.
John Burba, our Founder and Chief Technology Officer noted that "Our Company has industry leading direct lithium extraction technology and we welcome Libor and Doug into the team to take us to full commercialization."
Mr. Michel commented, "I am thrilled at this opportunity, and I am humbled by the trust the Board and Garry have placed in me. I am excited at the prospect of helping drive results and growth of our Company for our shareholders, in a time of great change and opportunity in the lithium extraction industry."
Mr. Smith replaces Daniel H. Christie in his role of Interim CFO. The Company wishes to thank Mr. Christie for his contributions and wishes him the best in his return to retirement. Mr. Christie will continue to work with the Company until the end of the year in order to transition the role.
The Company is also please to advise that it has entered into a service agreement (the "Service Agreement") with Dennard Lascar Investor Relations ("Dennard Lascar”).
Pursuant to the Service Agreement, Dennard Lascar will provide the Company with assistance in its ongoing investor relations' strategies structured towards shareholder communications and media relation services. Dennard Lascar will provide its services on a project-by-project basis utilizing a standard hourly fee structure coupled with its standard rates for press release distributions.
Dennard Lascar is an investor relations firm based out of Houston, Texas, and has served publicly traded companies since 1997 across a variety of industries including energy, retail, restaurants, banking, finance, insurance, transportation, and industrial. Dennard Lascar and its principals are arm's length from the Company and do not have any interest, direct or indirect, in the Company or its securities. Dennard Lascar's business address is located at 1800 West Loop South, Suite 200, Houston, Texas, 77027. Dennard Lascar’s office can be reached at (713) 529-6600, or by email at IBAT@dennardlascar.com.
About International Battery Metals Ltd.
The Company's direct lithium extraction technology is based on proprietary lithium extraction housed in patented extraction towers that are enclosed in a modular, shippable platform able to be loaded and brought into production within 10 days of arrival on a customer site. Utilizing the patented technology, the Company's focus has been on advanced extraction of lithium chloride from ground water salt brine deposits and returning the same water to the subsurface aquifer from which it is extracted. The Company's unique patented technology ensures faster delivery of lithium chloride while ensuring minimal environmental impact.
ON BEHALF OF THE BOARD
Garry Flowers, Co-CEO
Libor Michel, Co-CEO
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.
Forward‐looking and cautionary statements
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations.
This release may contain certain forward looking statements with respect to certain of the plans and objectives of the Company. The use of any of the words "will", "expected", "view", "believes" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statement made in this press release are made as of the date hereof. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
By their nature, forward‐looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward‐looking statements.
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