2022-09-12 | TSXV:WMG | Press release
WASHINGTON, Sept. 12, 2022 (GLOBE NEWSWIRE) — Western Magnesium Company (WMC) (TSXV: WMG.V; Frankfurt-3WM; OTCQB: MLYF) (“Western Magnesium” or the “Company””) Announces Appointment of Longtime Board Member Steve Thorlakson as Interim Chief Financial Officer, effective immediately.
Mr. Thorlakson brings extensive financial and business management expertise, having worked over three decades in the financial services and construction industry, and a proven track record in the construction project management and logistics industries. . He has been a trusted member of the company’s board of directors for nearly a decade.
Mr. Thorlakson ably assumed the financial responsibilities of Western Magnesium as interim Chief Financial Officer between 2016 and 2017. Mr. Thorlakson replaces Mr. Ramsey Hamady.
The Company will initiate a formal search process to identify a permanent replacement in the coming months.
About Western Magnesium
Western Magnesium’s goal is to be a low-cost producer of green primary magnesium, a strategic product valued for its strength and lightness. Unlike outdated and expensive production processes, Western Magnesium seeks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs compared to current methods and processes, while being eco-friendly.
Media Relations and Corporate Communications
Ashleigh Barry | [email protected] | (202) 258-4453
John Ulmer | [email protected] | (604) 423-2709
Statements contained in this press release that are not historical facts are forward-looking statements subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company’s dolomite reserves may not be mined due to technical, regulatory, financial or other impediments, the market price of magnesium may make our resources unprofitable and we may not be able to hire and retain qualified employees. The Company undertakes no obligation to update forward-looking information, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this press release.
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 press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described in this press release. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act””), or any state securities law , and, therefore, may not be offered or sold within the United States, or for the account or benefit of persons in the United States or “US Persons”, as that term is defined in Regulation S promulgated under the US Securities Act, unless registered under the US Securities Act and applicable state securities laws or under an exemption from such registration requirements.
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