Avalon Overhauls Leadership Team to Compete in Global Lithium Race
Avalon Overhauls Leadership Team to
Compete in Global Lithium Race
Toronto, Ontario--(Newsfile Corp. - June 12, 2023) - As part of its strategic transformation to become a
leading North American vertically integrated lithium producer,
Avalon Advanced Materials Inc.
(TSX:
AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") is pleased to announce the appointment of three
veteran executives to its leadership team, a key milestone as the Company executes on an ambitious
growth plan.
Scott Monteith will assume control as interim Chief Executive Officer
Jim Jaques will serve as the Company's inaugural Chief Administrative Officer
Jan Holland will join the Board of Directors
"These appointments, and others to come, underscore the arrival of Avalon 2.0," Zeeshan Syed, Avalon
President, said. "The commitment of our new leadership team is clear: reorient the Company towards full
vertical integration of the lithium production cycle, and help establish Ontario, and Canada more broadly,
as a strategic fulcrum in North America's clean energy transition."
All appointments are effective immediately, as the Company initiates a new growth phase consisting of
transformational developments to be announced in the weeks and months ahead.
Avalon also announces that, following a long and successful tenure with the Company, former President
and CEO Donald Bubar has decided to step down from the board of directors. Avalon would like to
thank him for his years of service.
"We're assembling a new execution-focused team of deeply experienced professionals aligned around
transforming Avalon into a world-class lithium producer, and in turn, helping ensure the path to a clean
energy future runs through Canada," Mr. Monteith said.
New Strategic Vision
Avalon Advanced Materials' new strategic goals are focused on both organic growth of its lithium
portfolio, consisting of a suite of critical-mineral mining projects across Canada, as well as developing
new related opportunities. The Company's mission is to vertically integrate lithium processing within
Ontario, positioning the province as an integral part of the North American supply chain for electric
vehicle (EV) batteries.
In the weeks ahead, Mr. Monteith and the leadership team expect to implement key steps in their Phase
1 strategy, including:
1
.
Advance production and capitalization for the Separation Rapids project in northwestern Ontario
2
.
Establish a best-in-class lithium-hydroxide facility in Thunder Bay, Ont.
3
.
Identify non-core assets that fall outside the scope of the Company's focus on the first two business
objectives
"I'm tremendously excited about the opportunity set I see before us. Avalon has a new mission we're
starting to share with investors and Canada's broader capital markets community," Mr. Monteith said.
Mr. Syed added: "Under our new leadership team, Avalon sees and understands what's required to
make Ontario and Canada leaders in this critically important space, and to establish Avalon's position
within it. We are putting the pieces in place to achieve our vision."
About the New Leadership Team Members
Mr. Monteith is an experienced clean-tech executive and entrepreneur with a successful track record of
moving inventions from ideation to commercial success. Mr. Monteith has extensive experience in the
areas of marketing, manufacturing, technology transfer, technology licensing, new product development,
patent management, corporate development, international business, M&A, investing, government affairs,
board governance and strategic planning. Mr. Monteith is currently the Chair of Monteco Ltd., Cable
House Capital Corp. and Imtex Membranes Corp.
In the newly created role of Chief Administrative Officer, Mr. Jaques will report to the CEO and be
responsible for the Company's overall administration, marketing, corporate communications, human
resources and information technology.
A former marketing and sales executive with Bell Canada Inc., Mr.
Jaques spent part of his career in senior leadership positions at both Merrill Lynch and Citibank
(Australia). For the past several years, he has been a management consultant based in Toronto, working
with both public and private sector organizations to help them drive revenue growth, new product
innovation, strategic partnerships and secure growth capital financing.
Mr. Holland brings 35 years of experience in building and reorganizing businesses across an array of
Canadian industries, from aerospace to financial services. For the past decade, he has been Chair and
CEO of a leading Canadian aerospace parts manufacturer, transforming its business operations through
a multi-phase revitalization and enabling expansion into new markets. Mr. Holland has been a Founding
Partner or Director with multiple financial services firms, including Tricycle Asset Management and BMO
Nesbitt Burns, respectively, raising a combined $2 billion in assets under management by pioneering
innovative offerings, such as managed futures products and structured notes. His knowledge of capital
markets and wealth of experience will be valued contributions to Avalon's new strategic direction.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian mineral development company aimed at vertically
integrating North America's lithium supply chain. The company is currently focusing on developing its
Separation Rapids Lithium Project near Kenora, Ontario while continuing to advance other projects,
including its 100%-owned Lilypad Spodumene-Cesium-Tantalum Project located near Fort Hope,
Ontario. Social responsibility and environmental stewardship are corporate cornerstones.
For investor relations and media inquiries, please e-mail the Company at
, or phone
Zeeshan Syed, President, at (647) 300-4706.
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States
Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation.
Forward-looking statements include, but are not limited to, project work plans, new strategic goals and
related opportunities, that the Company's mission is to vertically integrate lithium processing within
Ontario, and that in the weeks ahead Mr. Monteith and the leadership team expect to implement key
steps in their Phase 1 strategy.
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as "potential", "scheduled", "anticipates", "continues",
"expects" or "does not expect", "is expected", "scheduled", "targeted", "planned", or "believes", or
variations of such words and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be" or "will not be" taken, reached or result, "will occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or achievements of Avalon to be
materially different from those expressed or implied by such forward-looking statements. Forward-
looking statements are based on assumptions management believes to be reasonable at the time
such statements are made. Although Avalon has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward-looking statements, there may
be other factors that cause results not to be as anticipated, estimated or intended. Factors that may
cause actual results to differ materially from expected results described in forward-looking statements
include, but are not limited to market conditions, and the possibility of cost overruns or unanticipated
costs and expenses as well as those risk factors set out in the Company's current Annual Information
Form, Management's Discussion and Analysis and other disclosure documents available under the
Company's profile at
www.SEDAR.com
. There can be no assurance that such statements will prove to
be accurate, as actual results and future events could differ materially from those anticipated in such
statements. Such forward-looking statements have been provided for the purpose of assisting
investors in understanding the Company's plans and objectives and may not be appropriate for other
purposes. Accordingly, readers should not place undue reliance on forward-looking statements.
Avalon does not undertake to update any forward-looking statements that are contained herein,
except in accordance with applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/169561