Portex Minerals to Appoint Mr. Arthur Simmons to Board of Directors with Acquisition

Mr. Simmons manufacturing, fortune 1000 and international trade expertise a great asset for Portex Minerals Inc.

July 28, 2015 - Matthew Bassett Interim CEO of Portex Minerals, CEO & Chairman of Bassett Financial Corporation is pleased to announce that the company will add Arthur Simmons to the Board of Directors in conjunction with its acquisition of Direct Metals Recycling.

Mr. Simmons record of accomplishment, in leadership of diversified manufacturing, an official trade delegate and being based in Atlanta will complement the company's growth into a national aggregator and processor of Platinum Grade Metals (PGM).

Art Simmons received a BSME degree from Missouri University of Science and Technology (MS&T) and an MBA from the University of Chicago. He has more than 40 years of technical industrial experience. This includes executive roles as VP/GM of United Technologies' Fuel Injection Business Unit; VP/GM of Saginaw Machine and Tool Company, and VP/GM of LaSalle Steel Company.

In 1984 Art founded Astechnologies, Inc. (AST). As owner, he served as Chairman and Chief Executive Officer of AST until majority interest was sold to Eleison Composites, LLC (ELC) in 2005. He served as President and COO of Eleison Composites until it was acquired wholly by Innovative Composites Inc. (ICI) in 2011.

AST was a pioneer in the development of equipment and processing to produce and apply reinforced thermoplastic composites for industry. AST grew profitably to more than $85mm revenue, becoming a leader in products and technologies to serve the automotive interior trim industry. AST's basic technology and know-how remain contemporary, providing a solid foundation for growing strategic deployment in non-automotive as well as automotive applications.

Art has broad international experience. He served on various US Trade Delegations to the Soviet Union in the 1970s and to India and China throughout the 1980s and 1990s. He has been publically recognized by the US Department of Commerce and multiple foreign countries for contributions to international trade. In 1993, Art founded Euro American Composites, SA (EAC) in Brussels, Belgium. EAC was established to exploit automotive opportunities for thermoplastic composites in the EU, and to access technology and a supply chain related to natural reinforcing fibers for use in composite materials. After more than 15 years of successful operation as a distributor of US made products in the EU, EAC wound down operations and closed the end of 2014.

Art serves on the BOD of Plymouth Tube Company and the Northeast Georgia Council of the BSA. He has received numerous professional awards and recognitions including an honorary professional degree in Mechanical Engineering from MS&T. He is a member of the Academy of Mechanical & Aerospace Engineers, and holds numerous patents.

Matthew Bassett, Interim CEO of Portex comments, "I have a long standing relationship with Art, I am thrilled to be able to have an individual of his caliber and expertise join our team."



Matthew Bassett, CEO
Portex Minerals Inc.
416-786-3876


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