Frontier Lithium Hires Investment Executive to Lead Corporate Development Across the Canadian Ev Battery Supply Chain
FRONTIER LITHIUM HIRES INVESTMENT
EXECUTIVE TO LEAD CORPORATE
DEVELOPMENT ACROSS THE CANADIAN EV
BATTERY SUPPLY CHAIN
SUDBURY, ON
,
June 27, 2023
/CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX:
LITOF) ("Frontier" or "the Company") Frontier Lithium,
Ontario's
leading lithium developer, is pleased
to announce the appointment of
Gregory Da Re
as Vice President of Corporate Development
effective
June 28, 2023
. Mr. Da Re brings a deep understanding of electric vehicle battery supply
chains and brings two decades of experience as an accomplished investment executive. During his
time at Invest in
Canada
, the Government of
Canada's
global investment attraction agency, Mr. Da
Re managed a pipeline of over CAD
$20 billion
as the federal client-focused lead for
Ontario's
efforts to attract and build an EV supply chain within the province, including investments to create
Canada's
first EV battery gigafactory in
Windsor
(JV between LG Energy Solution and Stellantis),
Umicore's first North American cathode active materials production facility near
Kingston
, and
VW/PowerCo's firs t gigafactory in
North America
in
St. Thomas
.
"We are thrilled to welcome Greg to our team and add his extensive experience in investment
strategy and deep knowledge of EV battery supply chains to our bench strength," stated
Trevor
Walker
, President & CEO of Frontier Lithium. "Greg's leadership and expertise will play a vital role in
our mission to become an integrated local battery materials supplier for the North American electric
vehicle industry. Key to this is bridging our large and high-grade lithium resources in
Northern Ontario
with Greg's extensive OEM relationships both in
Canada
and abroad."
Through the appointment of Mr. Da Re, Frontier continues to attract top talent to drive its ambitious
growth plans, including demonstrating exceptional value to investment partners and future
downstream customers. Known for his collaborative and forward-thinking approach, Mr. Da Re
possesses the ability to quickly build trust and respect with multiple stakeholders. His strong
leadership qualities and commitment to innovation make him the ideal executive to lead Frontier's
role in building the EV battery supply chain in
Ontario
.
"I am thrilled to join this dynamic and visionary lithium mining company at such an exciting time in the
industry. The global transition towards electric vehicles and renewable energy has created
unprecedented demand for lithium, making it a critical component for a sustainable future. I am
eager to contribute my expertise and work alongside the talented team here to advance the
company a step closer to production through further integration across the EV supply chain.
Together, we will play a pivotal role in shaping the future of clean energy and making a positive
impact on the world," expressed Mr. Da Re.
Mr. Da Re is an accomplished executive leader with 20+ years of diverse experience growing and
transforming organizations with a strong track record of consistently delivering on ambitious
mandates. As the Regional Director at Invest in
Canada
, the Government of
Canada's
global
investment attraction agency, Mr. Da Re played a key role in fostering economic growth and
attracting strategic investments to the region. His experience overseeing the
Ontario
market has
provided him with both an extensive network and valuable insights across the investment landscape.
Prior to his tenure at Invest in
Canada
, Mr. Da Re served as Senior Director of Business Ventures at
RBC Ventures, the corporate venture arm of the Royal Bank of
Canada
. His strategic leadership and
innovative mindset contributed to expanding RBC's market share and driving business growth. In a
previous role, Mr. Da Re held the position of VP/Division Chief at the Inter-American Investment
Corporation (now IDBInvest), where he spearheaded the Strategy and Innovation Division. He holds
a Ph.D. in Civil & Environmental Engineering from the prestigious
Massachusetts Institute of
Technology
(
MIT
), a Master of Science in Civil & Environmental Engineering from the
University of
California
(
UCLA
), and a Bachelor of Applied Science in Civil Engineering from the
University of
Waterloo
in
Ontario, Canada
.
Other Matters
The Company would also like to announce at this time that is has granted 500,000 stock options
under the New Stock Option Plan (the "
Options
"). The Options have been issued to certain
directors, officers, or employees of the Company. The Options are exercisable at a price of
$1
.86 per common share and will have a term of 5 years from the date of issuance. 50% of these
Options vest on the grant date, and the remaining 50% vest on the date that is the first anniversary
date of the grant date. These Options are subject to approval by the TSXV.
The Company further announces that it has engaged Ptolemy Capital Limited ("PCL"), trading as
Crux Investor ("Crux"), to provide distribution and dissemination of video content for the Company,
as defined in accordance with the policies of the TSX Venture exchange ("TSXV") and applicable
securities laws.
About Frontier Lithium
Frontier Lithium is a preproduction business with an objective to become a strategic domestic
supplier of spodumene concentrates for industrial users as well as battery-grade lithium hydroxide
and other chemicals to the growing electric vehicle and energy storage markets in
North America
.
The Company maintains the largest land position and resource in a premium lithium mineral district
located in
Ontario's
Great Lakes region.
About the PAK Lithium Project
The PAK lithium project contains
North America's
highest-grade lithium resource and is the second
largest in
North America
by size. The project encompasses close to 27,000 hectares and remains
largely unexplored; however, since 2013, the company has delineated two premium spodumene-
bearing lithium deposits (PAK and Spark), located 2.3 kilometres apart. Exploration is continuing on
the project through two other spodumene- bearing discoveries: the Bolt pegmatite (located between
the PAK and Spark deposits), as well as the Pennock pegmatite (25 kilometres northwest of PAK
deposit within the project claims). A 2023 Pre-Feasbility Study "National Instrument 43-101
Technical Report Pre-Feasibility Study PAK Lithium Project" by BBA E&C Inc., delivered post-tax
NPV
(8)
of
US$1.74 billion
and IRR of 24.1% as per the press release disseminated on with an
effective date of
May 31, 2023
, and was filed on Sedar.com.
Forward-looking statements
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 news release. This news release includes certain statements that may be deemed "forward-
looking statements". All statements in this release, other than statements of historical fact constitute
forward-looking statements. Forward looking statements contained in this news release include, but
are not limited to, statements with respect to: estimated mineral resources, estimated capital costs
to construct mine facilities, estimated operating costs, the duration of payback periods, estimated
amounts of future production, estimated cash flows, net present value (NPV), and statements that
address future production, reserve potential, exploration drilling, exploitation activities and events or
developments that the Company expects.
Although the Company believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future performance and
actual results may differ materially from those expressed in the forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties. Risk factors that could cause
actual results to differ materially from those in forward looking statements include: market prices for
commodities, increases in capital or operating costs, construction risks, availability of infrastructure
including roads, regulatory and permitting risks, exploitation and exploration successes, continued
availability of capital and financing, financing costs, and general economic, market or business
conditions. Investors are cautioned that any such statements are not guarantees of future
performance and those actual results or developments may differ materially from those projected in
the forward-looking statements. For more information on the Company, Investors should review the
Company's registered filings available at
sedar.com
.
SOURCE
Frontier Lithium Inc.
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%SEDAR: 00008434E
For further information:
Company Contact Information, Bora Ugurgel, Senior Manager, Investor
Relations, 2736 Belisle Drive Val Caron, ON. P3N 1B3 CANADA, T. +001 705.897.7622, F. +001
705.897.7618
CO: Frontier Lithium Inc.
CNW 07:30e 27-JUN-23