Sage Potash Continues to Strengthen Team by Adding Corporate Finance Veteran as CFO and Retains Terrarock Industries for Plant Construction The appointment of Rod Reum will bring a long, tenured and strong track record of executive leadership and corporate finance to
Sage Potash Continues to Strengthen Team by Adding Corporate Finance
Veteran as CFO and Retains Terrarock Industries for Plant Construction
The appointment of
Rod Reum
will bring a long, tenured and strong track record of executive leadership and corporate finance to
Sage Potash
as it progresses
into construction.
VANCOUVER, BC
,
Oct. 17, 2024
/CNW/ - Sage Potash Corp., (TSXV: SAGE) (OTC: SGPTF) ("Sage" or the "Company") is pleased to announce that
Rod Reum
has been appointed Chief Financial Officer effective immediately. Mr. Reum brings forty years of international finance leadership experience and public company
governance as
Sage Potash
progresses into its construction phase of developing its Sage Plain Project in
Utah
. As CFO, Mr. Reum has added to the recent
transformation of the management team of operational industry experts, such as
Shilo Sazwan
, who joined
Sage Potash
as a strategic operations partner. Mr.
Sazwan is responsible for sourcing and securing the fertilizer plant equipment purchase agreement in partnership with International Process Plants,
announced on
September 8
th
, 2024
.
With the Company advancing towards construction and operations, Mr. Sazwan has brought on his Terrarock Industries team of in-house engineering,
construction, logistics, and accounting experts to lead the project management of the construction and commissioning of its Muriate of Potash pilot plant in
Utah
.
Mr. Sazwan and his construction and engineering team have over twenty-five years of experience designing and operating high-quality, innovative, sustainable
evaporative mineral plants. The Company's Utah Sage Plain plant will be Mr. Sazwan's ninth such facility to be built at significant cost savings.
Mr. Reum joins
Sage Potash
with extensive experience and a strong executive corporate finance track record, including leading high-growth start-ups and large
international partnerships from development to production stages across construction, mining, alternative energy, forestry and military industries. Highly skilled in
risk management, securing global strategic alliances and leading finance teams through complex international joint ventures, including a large Canadian Kraft Pulp
Mill.
Mr. Reum most recently served as CFO for Mavericks Micro Grids Inc., providing leadership and expertise in US IRA Investment Tax credit financing and carbon
credit modelling. "
Sage Potash's
opportunity value is unparalleled and key to local production in support of America's fertilizer industry, which is nearly 100%
dependent on potash imports. With Sage's recent announcements of adding new senior operational partners and purchasing plant equipment, the team is clearly
committed to advancing this project in a highly cost-effective, risk-mitigated strategy," said Mr. Reum.
Sage's CEO,
Peter Hogendoorn
, says, "Mr. Reum's appointment and expertise in overseeing both US and Canadian public companies will provide the appropriate
financial oversight and strategic guidance to Sage as our construction begins and operations expand. With our recent plant acquisition announcement and financing
activities, we are clearly focused on delivering results and value to our shareholders at each stage of our project development."
Mr. Reum replaces Mr. Grossholtz, who has served as CFO since
November 2021
. The Company wishes to thank Mr. Grossholtz for fulfilling that role and
express appreciation for his service.
The Company aims to share in the achievements with its directors, employees, and consultants and encourage all parties to align interests with shareholders in
boosting
Sage Potash's
long-term value and profitability. As such, the company wishes to announce that it has granted an aggregate of 4,350,000 stock options
to certain directors, officers, employees, and consultants pursuant to the Company's stock option plan. The stock options have an exercise price of $0.25 per
share and an expiry date of
October 17, 2026
.
About Sage Potash Corp.
Sage Potash
is a Canadian company vested solely in the Sage Plain Property and intends to become a prominent domestic potash producer within the Paradox
Basin situated in
Utah
through sustainable solution mining techniques. For further information, please refer to the Company's disclosure record on SEDAR+ (
www.sedarplus.ca
) or contact the Company by email at
.
On Behalf of the Board of Directors,
Peter Hogendoorn
CEO & Executive Chairman
(604) 764-2158
Website:
www.sagepotash.com
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 release. This news release may contain "forward-looking statements", which are statements about the future
based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward–looking
statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should
not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as
required by law.
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CNW 08:00e 17-OCT-24