Altair announces board and management changes
Altair announces board and management changes
VANCOUVER, BRITISH COLUMBIA – September 22nd 2020: ALTAIR RESOURCES INC. (“ALTAIR” or the
Company”) (TSX-V: AVX: Germany FRA: 90A; ISIN: CA02137W1014; WKN: WKN A2ALMP) Mr. Jeffrey
Steiner on behalf of the board of the Company announces changes to the board composition, management
changes and other appointments.
Altair, like many other companies has been dealing with the impact of COVID -19 and also has experienced
some additional challenges, such as th e passing of its long -time Chair and President & CEO, Roy Shipes as
previously reported last month. On Friday, September 1 8, 2020 the company was subject to a bulk Cease
Trade Order (the “CTO”) as it failed to file reports on a timely basis , plus received the resignation just prior to
the CTO of Bruce Reid, a director and Altair’s interim CEO. The board of directors has now taken specific
actions and Jeffrey Steiner has stepped in to lead the Company as its Interim President & CEO, its Interim CFO
and also assume the role as Chair of the board.
Joining the board to fill a vacancy is Mr. John G. Booth, an experienced executive and lawyer who will be an
independent director and Chair of the Audit Committee. The board has also appointed Mr. A. Vinc ent Spinelli
to its Advisory Board, enhancing its business development and ESG capacity, especially for geographical areas
of Eastern Europe and the Caucuses. Biographical notes on the t wo new members of the Altair team follow
below.
“Altair will up its game in compliance and good governance,” noted Mr. Steiner. “The board has asked its new
independent member, John G. Booth , to prepare a report with an examination of skill -sets for future board
appointments, an HR review and financial structuring recommen dations’, Steiner added. The Company will
also seek out the appointment of a CFO following resolution of the CTO.
ON BEHALF OF THE BOARD,
"Jeffrey Steiner"
Jeffrey Steiner, Board Chair and Interim President & CEO
Neither 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.
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Biographical Notes
John G. Booth, BSc (Hons), LLB, JD, LLM
Mr. Booth currently serves as non -executive chair and/or audit committee chair of multiple TSX,
TSXV and CSE companies. He has served as a nominee director for the EBRD and is a guest lecturer
in the graduate business school at the University of London on ESG. He has held increasingly senior
executive positions over his career as a lawyer, investment banker, strategy consultant, fund manager,
chief executive officer and has co-founded three businesses in financial services, the most recent listed
in 2013. Fluent in French and English, John is a member of the Law Society of Ontario and the State
bar associations of New York and Washington. DC. He joins Altair as an independent director and
Chair of the board’s audit committee.
Mr. A. Vincent Spinelli, B.ASc (Mechanical Engineering)
Mr. S pinelli is a n Oil & Gas industry executive with 30 years of broad international experience
managing significant companies in rapidly changing and emerging markets. He has a p roven track
record in operational turnarounds, HSE & cultural transformations, M&A, divestments and IPO
preparation. Since 2014 he serves as Managing Director ESG of Kazmunaigas, headquartered in
Astana, Kazakhstan where he has been recognized with an award of the President of Kazakhstan for
outstanding contributions to the Oil & gas industry. A Canadian citize n, Vincent is also fluent in
Russian and Italian. He joins Altair as a member of its Advisory Board.