Mark Saxon Appointed as New Chief Executive Officer of Medallion Resources Working toward strategic partnerships
Mark Saxon Appointed as New Chief Executive Officer of Medallion Resources
Working toward strategic partnerships
VANCOUVER, British Columbia, May 22, 2020 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF;
Frankfurt: MRDN) – “Medallion” or the “Company”), today announced it has appointed Mr. Mark Saxon, as President & CEO of the
Company, effective May 25, 2020. Mr. Saxon is an experienced and respected public market executive, with substantial experience in rare
earth elements (“REE”) and other critical raw materials. Current President & CEO Don Lay will transition to a strategic advisor role and
remain on the board of directors and an officer to support the future growth of the Company.
“There is a tremendous and growing opportunity in the REE industry, and we’re excited to attract someone of Mark’s caliber to lead
Medallion Resources during this critical phase. He has been an advisor to the Company for several years and is well positioned to quickly
advance strategic alliances and development plans” said Don Lay. “Given the increased focus of US industry and national defense on
achieving secure, transparent and domestic supply chains, Medallion’s activity to establish near term, US-based production of REEs is
more appropriate and strategic than ever.”
Mark Saxon was most recently President & CEO at Leading Edge Materials (TSX.V: LEM; OTCQB: LEMIF), focused on the development of
the Norra Kärr heavy rare-earth and other European mineral properties. He has more than 25 years of experience in the resources industry,
representing junior and senior companies with a particular focus on critical raw materials. An Honours BSc graduate in Geology from the
University of Melbourne, a Fellow of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists, Mr.
Saxon has also received a Graduate Diploma of Applied Finance and Investment through the Financial Services Institute of Australasia.
“Medallion has followed a unique path in the REE business,” said Mark Saxon, incoming President & CEO. “The Company’s strategy to
develop a proprietary scalable and transferable technology that transforms an abundant low-value by-product into a high-value market-ready
REE product makes excellent economic sense. The strategy delivers Medallion with a first mover advantage within the US, requires
relatively low capital to execute, and focuses on the production of the highest-demand magnetic REEs (neodymium, praseodymium,
dysprosium). A monazite by-product can be sourced immediately from operating sites and stockpiles within the US. I look forward to
executing for all Medallion shareholders and stakeholders.”
Medallion, under its employee incentive option plan, has granted 1,750,000 options to Officers and Consultants to the Company at an
exercise price of $.105, for a period of five years.
Medallion Resources Webinar May 27, 2020
Medallion’s newly appointed President & CEO, Mark Saxon, will deliver a company presentation on May 27, 2020 at 4:05 ET. Attendees can
register for this Amvest Capital live event or see via replay at: https://register.gotowebinar.com/register/3083965596072310543?
source=bb
About Medallion Resources
Medallion Resources has developed a proprietary process and related business model to achieve low-cost, near-term, rare-earth element
(REE) production by exploiting monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product from mineral
sand mining operations. REEs are critical inputs to electric and hybrid vehicles, electronics, imaging systems, wind turbines and strategic
defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of mineral
transportation, processing and the safe management of waste materials. More about Medallion (TSX-V: MDL; OTCPK: MLLOF; Frankfurt:
MRDN) can be found at medallionresources.com.
Contact(s):
Mark Saxon, President & CEO
Donald Lay, Director & Strategic Advisor
+1.604.681.9558 or [email protected]
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.
Medallion management takes full responsibility for content and has prepared this news release. Some of the statements contained in this
release are forward-looking statements, such as statements that describe Medallion ’s plans with respect to the completion of additional
tranche(s) of the Offering and the intended use of the proceeds. Since forward-looking statements address future events and conditions, by
their very nature, they involve inherent risks and uncertainties, including the risks related to market conditions and regulatory approval and
other risks outlined in the Company’s management discussions and analysis of financial results. Actual results in each case could differ
materially from those currently anticipated in these statements. Also, in order to proceed with Medallion’s plans, additional funding will be
necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate Medallion’s
plans. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities
laws, Medallion disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information,
future events or results or otherwise.