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
