RENO, NEVADA -- (Marketwired) -- 09/30/13 -- Western Lithium USA Corporation ("Western Lithium", the "Company") (TSX: WLC) (OTCQX: WLCDF) is pleased to announce that the founder of Western Lithium, Ed Flood, has been re-appointed to join the Company as Director. Western Lithium is planning to commence production of its Hectatone organoclay products to service the oil and gas sector in the Spring of 2014. In addition, the Company is advancing its lithium project through planned demonstration plant trials in 2014. Mr. Flood has several decades of experience financing and developing mining companies.
"We are delighted that Ed can re-join our Board as we transition to producer status", said the Chairman of Western Lithium, John Macken. "Ed's experience in the financial markets and his enthusiasm for the burgeoning electric car industry provides additional reach for our Company"
Mr. Flood has over 35 years of experience in international mining. He was a director of the Company from November 2007 to July 2008 and its Chairman from July 2008 to June 2012. He was CEO of Concordia Resource Corp. from December 2010 to February 2013 and Chairman from March 2007 to February 2013. Mr. Flood previously was the Deputy Chairman of Ivanhoe Mines Ltd. (currently called Turquoise Hill Resources), and founding President. Prior to joining Ivanhoe, Ed was a principal at Robertson Stephens & Co., an investment bank in San Francisco where he was a member of the investment team for the Contrarian Fund, a public mutual fund focused on natural resource development projects around the world. He also served as the Non-Executive Chairman of Byron Capital Markets from 2010 to 2012 and was Managing Director, Investment Banking for Haywood Securities (UK) Ltd. from 2007 to 2010. He holds both a bachelors and masters degree in Geology.
Western Lithium is pursuing the opportunity to be a supplier of specialty drilling additive, Hectatone and potentially other organoclays for the oil and gas industry, and in particular, to support the growth of high pressure high temperature, deep directional drilling applications. The Company is also developing its Kings Valley, Nevada lithium deposit into a strategic, scalable and reliable source of high quality lithium carbonate. The Company is positioning itself as a major U.S.-based supplier to support the rising global demand for lithium carbonate that is expected from the increased use of hybrid/electric vehicles.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the company's periodic filings with Canadian securities regulators. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should" and similar expressions are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.
Statements in this release that constitute forward-looking statements or information include, but are not limited to (i) the commencement of Hectatone product sales in 2014; (ii) the commencement and completion of construction of the organoclay plant; and (iii) the completion of a lithium demonstration plant in 2014.
All such forward-looking information and statements are based on certain assumptions and analyses made by Western Lithium management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risks Factors" in the Company's most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking information or statements.
Western Lithium USA Corporation
Most Popular Stories
- Microsoft's Cloud Platform Shines
- 2016 Camaro Shrinks, Moves to Caddy Platform
- New Effort to Ban Child Labor From Tobacco Farms
- Apple Pay Debuts With Few Issues
- Volatility No Reason to Bail on Stock Market
- Government: 500 Million Records Stolen in 12 Months
- More Hispanic Voters May Not Mean More Clout
- Pistorius Gets 5-year Sentence in Shooting Death
- Samsung Phones Cleared For U.S. Government Use
- Disney's Animated Feature 'Moana' Slated for 2016 Release