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VANCOUVER, British Columbia, March 14, 2023 (GLOBE NEWSWIRE) -- United Lithium Corp. (CSE: ULTH; OTC: ULTHF; FWB: 0ULA) (“ULTH” or the “Company”) announces that Cathy Fitzgerald has been appointed to the Board and Directors, and Andrew Bowering and Victor Cantore as Strategic Advisors.
Ms. Fitzgerald has joined the board of directors of the Company effective immediately. She is replacing Faizaan Lalani, who has resigned as a director the Company but will continue his executive role as Chief Financial Officer. The board of directors’ thanks Mr. Lalani for his service to the Company as a board member.
Mr. Bowering and Mr. Cantore will provide strategic advice to both the management and board of the Company. Mr. Bowering is the founder and Executive Chairman of American Lithium, a Nasdaq listed, multi asset lithium developer. He was also a founder and director of Millennial Lithium which was acquired in 2022 by Lithium Americas Corp. for CDN $491 million. Mr. Cantore was a founder and part of the management team that developed the Whabouchi hard rock lithium project in Quebec.
Scott Eldridge, CEO of the Company stated: “Mr. Bowering, Mr. Cantore and Ms. Fitzgerald bring a wealth of capital markets, corporate finance, technical and M&A experience to our team. We look forward to their contributions as we advance our diverse hard rock lithium portfolio and unlock shareholder value.”
Cathy Fitzgerald, Independent Director
Ms. Fitzgerald is a geologist with 20 years of mineral resource industry experience in technical and leadership roles. Ms. Fitzgerald’s career has focused on strategic planning and leadership of technical work programs associated with exploration through to resource development across a broad range of commodities and deposit styles. Ms. Fitzgerald recently served as Director, Resource Evaluation for Ivanhoe Electric (formerly High Power Exploration) and currently serves as Vice President Exploration and Resource Development for Apollo Silver Corp. Ms. Fitzgerald earned her B.Sc. at Carleton University and her M.Sc. at the University of Victoria, both with a focus on geochemistry and she is a registered Professional Geoscientist (P.Geo.) in British Columbia.
Andrew Bowering, Strategic Advisor
Mr. Bowering is a venture capitalist with over 30 years of operational experience and leadership in mineral exploration and development worldwide. He is the founder and an Executive Advisor and director of Prime Mining, a high profile gold/silver exploration and development company focused in Western Mexico. In addition to his roles in American Lithium, he was a founder of Millennial Lithium Corp, which was acquired by Lithium Americas Corp. for CDN $491 million. Over the decades, Mr. Bowering has founded, funded, and managed numerous companies that have been active in the exploration and development of precious metals, base metals, and industrial metals, globally. To date, he has raised hundreds of millions of dollars in equity financings. In addition to his roles in Prime Mining and American Lithium, Mr. Bowering is Chairman of Apollo Silver Corp.
Victor Cantore, Strategic Advisor
Mr. Cantore is a seasoned capital markets professional specializing in the resource sector. He has more than 30 years of advisory and leadership experience having begun his career in 1992 as an investment advisor and then moving into management roles at both public and private companies. During his career he has organized and structured numerous equity and debt financings, mergers and acquisitions, joint venture partnerships and strategic alliances. He acquired then vended the Whabouchi lithium project to Nemaska Lithium where the project is slated to be going into production by 2024 as one of the largest lithium mines in Canada. Mr. Cantore is the President and CEO of Amex Exploration which under his leadership has embarked on one of the largest drilling programs in Canada, where over 350,000 metres has been drilled to date. He also serves on the boards of various companies both private and public.
Stock Option Incentive Grant
The Company also announces that it has granted incentive stock options to certain directors, officers, employees and consultants of the Company to acquire an aggregate of 4,000,000 common shares in the capital of the Company at an exercise price of $0.35 (the “Options”) in accordance with its 10% rolling Incentive Stock Option Plan. The Options vest immediately upon grant and are exercisable for a period of sixty months.
On Behalf of The Board of Directors
Chief Executive Officer and Director
Tel: 604-428-6128 office
About United Lithium Corp.
United Lithium Corp. (CSE: ULTH) is an exploration & development company energized by the global demand for lithium. The Company is targeting lithium projects in politically safe jurisdictions with advanced infrastructure that allows for rapid and cost-effective exploration, development and production opportunities.
The Company’s consolidated financial statements and related management’s discussion and analysis are available on the Company’s website at https://unitedlithium.com/ or under its profile on SEDAR at www.sedar.com.
Certain statements contained in this press 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 the Company’s current belief or assumptions as to the outcome and timing of such future events.
In particular, this press release contains forward-looking information relating to, among other things, the Offering and the intended use of proceeds. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
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. The forward-looking information contained in this release is made as of the date hereof, and the Company not obligated 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.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.