Laramide Provides Annual Meeting Details and Announces New Board of Directors Nominee
Laramide Provides Annual Meeting Details and
Announces New Board of Directors Nominee
TORONTO
,
May 22, 2024
/CNW/ -
Laramide
Resources Ltd.
("Laramide" or the "Company")
(TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce that it has mailed its notice of
annual meeting of shareholders, management information circular (the "Circular") and related
meeting materials (collectively, the "Meeting Documents") in respect of its upcoming annual meeting
of shareholders of the Company (the "Meeting"), to be held on
June 26, 2024
at
11 a.m. Eastern
Time
.
Laramide's current, long-tenured director D.
Scott Patterson
has informed the Laramide Board of
Directors (the "Board") of his intention to retire from the Board as of the Meeting and he will
therefore not stand for re-election.
John Mays
, a licensed chemical engineer with 30 years of experience with in-situ recovery and the
uranium industry, is nominated as a new member to the Laramide Board of Directors (the "Board"),
to be elected at the Meeting. The Company's proposed new Board member adds a valuable
technical and in-situ recovery ("ISR") mining background to the Board's existing skillset matrix, and
has broad operational leadership experience, both internationally and in
the United States
.
Laramide expresses its sincere appreciation to D.
Scott Patterson
for his invaluable contributions
during his tenure on the Board. Mr. Patterson, who is the CEO of TSX and NASDAQ listed
FirstService Corporation – one of
Canada's
premier growth companies – has been instrumental in
helping guide Laramide through significant corporate milestones, and associated challenges, as the
company's fortunes ebbed and flowed in concert with the prospects and perceived potential of
nuclear power as a cornerstone technology for electricity generation. With nuclear power seemingly
once again poised to capture a growing share of a growing market, this moment also creates an
opportunity to further the process of board renewal at Laramide and begin positioning the company
from development towards production status in the near to medium term.
Laramide's President, CEO and Director
Marc Henderson
commented:
"One of our longest-term directors,
Scott Patterson
, will not stand for re-election at the Annual
Meeting. The Board of Directors and management of Laramide would like to extend our sincere
gratitude to Scott for his exceptional dedication and service over the years. As Director and Audit
Chair, Scott's integrity, common sense, and business and financial acumen were highly valued
commodities in our boardroom and will be sorely missed; Scott continues to have a large
ownership position in the Company. We are pleased to welcome our new director nominee,
John
Mays
, who brings significant and proven mining and technical experience to our Board. All of our
uranium assets, and in particular Laramide's planned long life, low-cost in-situ recovery
Crownpoint-Churchrock uranium operation in
New Mexico
,
United States
, will benefit from John's
deep technical experience."
John Booth
, Chair of the Board, commented:
"We are pleased to nominate
John Mays
to the Board and look forward to his contribution in
helping management drive forward the Company's premium large-scale U.S. and Australian
uranium assets. On behalf of the Board, I would also like to thank
Scott Patterson
for his valuable
contributions to Laramide, as both Chair of the Audit Committee and having served as a Director of
the Company for so many years. He has played an essential, almost founding role in the
advancement of the Company and we wish him well in his future endeavours."
John Mays
John Mays
is a licensed professional chemical engineer with over 30 years of experience with in-situ
recovery ("ISR") and the uranium industry. Mr. Mays began his early career at uranium ISR projects
in
South Texas
operated by Everest Minerals in 1986, a company lead by his father and one of the
first commercially viable pioneers of uranium ISR technology. Since that time, he has developed
broad technical knowledge and regulatory experience with uranium recovery throughout
the United
States
, having had significant involvement in a multitude of uranium projects throughout the western
United States
, including roles in
New Mexico
,
Utah
,
Colorado
, and Wyoming. Notable among his
recent experience was his role as Vice President with UrAsia Energy Ltd. based in
Almaty,
Kazakhstan
from 2006 to 2008 during the successful initial construction and operation of the Akdala,
South Inkai, and Kharasan-1 uranium ISR projects. Mr. Mays served as Vice President of
Powertech
USA
Inc. from 2008 to 2014 and its successor, Azarga Uranium Corp., for which he
served as COO from 2014 until its merger with enCore Energy Corp. in 2021. In this position, he
was instrumental in completing NRC licensing of the Dewey-Burdock Project and its permitting as the
first uranium ISR directly regulated by the Unites States Environmental Protection Agency. Since
2023, Mr. Mays has been General Manager of Florence Copper LLC owned by Taseko Mines
Limited, which has successfully demonstrated and permitted in-situ copper recovery in
Arizona
and
is planning to commence commercial operations in 2025. Mr. Mays holds a Bachelor of Science of
Chemical Engineering from the
Colorado School of Mines
.
The Circular contains information for Shareholders regarding the Annual Meeting, including exercising
voting rights on the election of the Board and the appointment of the Company's external auditor.
Shareholders who held shares as of the Record Date of
May 10, 2024
, will be eligible to vote.
Voting instructions are included in the Circular, and eligible Shareholders are encouraged to vote well
in advance of the proxy voting deadline of
11:00 a.m. Eastern Time
on
June 24, 2024
. The Meeting
materials are available under the Company's issuer profile on SEDAR+ (
https://www.sedarplus.ca/landingpage
) and on the Company's website at
https://laramide.com/investors/shareholder-information/
and under the Company's profile on the ASX
at
https://www.asx.com.au/markets/company/LAM
.
Statement on Russian Uranium Ban in
the United States
On
May 13
, U.S. President Biden signed bipartisan legislation to ban the import of uranium products
from
Russia
, a major milestone in the uranium sector. This legislation also unlocks new U.S. funding
for domestic conversion and enrichment capacity and provides the clearest signal yet of US policy
support for both domestic security of supply and an expanded role for nuclear power in meeting
future energy requirements. As Laramide pursues near-term permitting and production of the
Company's 100%-owned U.S. uranium projects, Laramide is poised to benefit as one of the
country's sources of domestically produced uranium for clean energy. Laramide continues to
advance its
Utah
and
New Mexico
uranium projects in preparation to help strengthen American
nuclear leadership and fuel security for decades to come.
To learn more about Laramide, please visit the Company's website at
www.laramide.com
.
Follow us on Twitter @LaramideRes
About Laramide Resources Ltd.:
Laramide is focused on exploring and developing high-quality uranium assets in
Australia
and the
western
United States
. The Company's portfolio comprises predominantly advanced uranium
projects in districts with historical production or superior geological prospectivity. The assets have
been carefully chosen for their size, production potential, and the two large projects are considered
to be late-stage, low-technical risk projects.
In
the United States
, Laramide's assets include the NRC licensed Crownpoint-Churchrock Uranium
Project. An NI 43-101 PEA study completed in 2023 has described an in-situ recovery ("ISR")
production methodology. The Company also owns the La Jara Mesa project in the historic Grants
mining district of
New Mexico
and an underground project, called
La Sal
, in Lisbon Valley, Utah.
The
Westmoreland
project in
Queensland, Australia
, is one of the largest uranium development
assets held by a junior mining company. This project has a PEA that describes an economically
robust, open-pit mining project with a mine life of 13 years. Additionally, the adjacent Murphy
Project in the Northern Territory of
Australia
is a greenfield asset that Laramide strategically
acquired to control the majority of the mineralized system along the
Westmoreland
trend.
Forward Looking Statement
This release includes certain statements that may be deemed to be "forward-looking statements".
All statements in this release, other than statements of historical facts, that address events or
developments that management of the Company expect, are forward-looking statements. Forward-
looking statements are frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential",
"possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the
negative of any of these terms and similar expressions. Actual results or developments may differ
materially from those in forward-looking statements. Laramide disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise, save and except as may be required by applicable securities laws.
Since forward-looking information address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include, but are not limited to, exploration
and production for uranium; delays or changes in plans with respect to exploration or development
projects or capital expenditures; the uncertainty of resource estimates; health, safety and
environmental risks; worldwide demand for uranium; uranium price and other commodity price and
exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of
acquisitions; ability to access sufficient capital from internal and external sources; and changes in
legislation, including but not limited to tax laws, royalties and environmental regulations.
SOURCE
Laramide Resources Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/May2024/22/c1027.html
%SEDAR: 00003540E
For further information:
Marc Henderson, President and CEO, Toronto, Canada +1 (416) 599
7363; Ann Baines, Director, Investor Relations, Toronto, Canada +1 (647) 832-9904
CO: Laramide Resources Ltd.
CNW 09:00e 22-MAY-24