VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 8, 2017) - Millennial Lithium Corp. (TSX VENTURE:ML)(A3N2.F)(MLNLF) ("Millennial" or the "Company") is pleased to announce the appointment of Mr. Farhad Abasov as Chief Executive Officer and Director, Mr. Richard Lacroix as Director, and Dr. Peter J. MacLean as Senior Vice President - Technical Services.
Graham Harris, Chairman of the Board, comments, "The current board and management are delighted to welcome Farhad, Peter and Richard to Millennial Lithium. Our ability to attract such industry professionals speaks volumes about the quality of our assets. We remain committed to continue building our management team and developing our Argentine brine assets for the benefit of our shareholders."
Farhad Abasov, the CEO of the Company, comments, "We are excited to join Millennial Lithium at this stage of their development. I believe the Company is well positioned to benefit from the continuing lithium demand growth. I look forward to taking our lithium brine projects in Argentina to the next level of development and working very closely with our strong technical team in Canada and Salta Province in Argentina."
Farhad Abasov, MBA, CEO and Director
Mr. Abasov has over 15 years of experience founding and managing natural resource companies. Most recently Mr. Abasov served as President & CEO of Allana Potash Corp., a potash development company which was sold to Israel Chemical Ltd. for $170M in 2015. Mr. Abasov was also the Executive Chairman of Rodinia Lithium, a company developing lithium brine assets in Argentina. Previous to Allana Mr. Abasov was a co-founder of Potash One which was acquired by German potash company K+S for $430M in 2010. Prior to Potash One Mr. Abasov was a Senior Vice President, Strategy at Energy Metals which was acquired by Uranium One for $1.8B in 2007. Mr. Abasov brings a unique skill set of leadership and proven ability to build strong shareholder value by successfully developing early stage assets.
Richard Lacroix, P.Eng., Director
Mr. Lacroix has extensive experience in all aspects of potash mining, processing and marketing including 30+ years with Potash Corp. of Saskatchewan (PCS). Mr. Lacroix is a former Senior Vice President of PCS and former Director of Canpotex and former Chairman of Canpotex Bulk Terminals. Most recently Mr. Lacroix served as a Director for Allana Potash Corp. In addition to an extensive career in potash, Mr. Lacroix was involved in base metal mining operations in northern Canada and Ontario. Mr. Lacroix brings a wealth of experience in large-scale mining operations, product marketing, distribution and transportation.
Peter J. MacLean, Ph.D., P. Geo., SVP-Technical Services
Dr. MacLean has over 25 years of exploration and development experience in North America, South America and Africa. Most recently Dr. MacLean acted as SVP-Exploration of Allana Potash Corp. and directed all exploration and development activities on its flagship Danakhil Potash Project in Ethiopia up to its takeover by ICL including managing the Company's Feasibility Study and overseeing pilot solution mining and evaporation pond trials. Dr. MacLean has also worked extensively on base metal and precious metal projects throughout the Americas and is fluent in Spanish. Dr. MacLean will work closely with Iain Scarr, Millennial's COO, to assist with the current development program of the Company's brine assets in Argentina.
The appointments of Mr. Abasov and Mr. Lacroix as directors follow the resignations of Mr. Brian Morrison and Mr. Brent Butler as Directors. Millennial thanks Mr. Morrison and Mr. Butler for their efforts and contributions to date. Mr. Morrison will remain as a consultant to the Company. The appointment of Mr. Abasov as Chief Executive Officer follows the resignation of Mr. Kyle Stevenson as Chief Executive Officer. Mr. Stevenson will remain as President and director of the Company for the transition period.
The Company would also like to report the granting, subject to regulatory acceptance, of 900,000 incentive stock options to certain officers, directors, consultants and employees of the Company (the "Options"). The Options have a term of 5 years and are exercisable at a price of $1.40 per common share.
To find out more about Millennial Lithium Corp., please contact investor relations at (604) 662-8184 or email info@millenniallithium.com.
MILLENNIAL LITHIUM CORP.
Graham Harris, Chairman
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 an applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
