Power Metals Corp Creates Lithium Oilfield Brine Advisory Board; Appoints Former Gulf Oil Executive
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 1, 2017) - Power Metals Corp. ("Power" or the "Company") (TSX VENTURE:PWM)(FRANKFURT:OAA1) is pleased to announce the appointment of Dennis J. Martin to the Advisory Board of the Company.
Dennis J. Martin was employed by Gulf Canada for 18 years and in his most recent position was head of Strategic Planning for Gulf and its 72% owned subsidiary, Gulf Indonesia Resources. At Gulf Canada, Mr. Martin was involved in the planning and marketing of approximately $6 Billion in public debt and equity offerings with the Company. He has extensive IPO experience and was directly involved in two highly visible and successful IPOs, Athabasca Oil Sands Trust (predecessor to Canadian Oil Sands Trust) and Gulf Indonesia Resources Ltd.
Mr. Martin also has extensive real estate experience, including Senior Vice President roles in Financial Planning and Analysis with two public REITs (Apartment Investment and Management Co, and HCP, Inc.). In his most recent leadership roles, Mr. Martin was CFO of two private, equity-sponsored companies that successfully liquidated in private market transactions (American Residential Communities and Carefree Communities).
Mr. Martin is currently an independent director TIER REIT, Inc., a self-managed, Dallas-based public office REIT (NYSE:TIER) and an Independent Director of Petro Motion, Inc., a private Canadian company engaged in the development of new materials and processes to improve the efficiency of companies working in the heavy oil production sector.
Mr. Martin is a citizen of both Canada and the USA and holds a B.A. in economics and an MBA from the University of British Columbia.
Johnathan More, CEO of Power Metals noted "We are very pleased to welcome Mr. Martin as the first addition to our Advisory Board to which we intend to appoint experts in lithium brine production, extraction technologies, and conventional as well as unconventional oil and gas executives.
The company believes that the magnitude of the opportunity at our South Leduc brine project area could have industry altering implications, if commercialized. We believe that the right team of experts across all relevant segments of lithium, technology and oil and gas will significantly aid us in moving that process forward along a condensed timeline and at a reduced cost, while markedly elevating the change of commercial success.
We also believe that the group of individuals that Power Metals is bringing together will help to form the basis for partnerships at all levels of this process that will inevitably lead us forward creating shareholder value."
ON BEHALF OF THE BOARD
Johnathan More, CEO and Director
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the mineralization of the Case Lake or Larder River Properties, the payment of funds and incurring of expenditures toward exploration of such properties, and the earning of interests therein. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the results of current exploration and testing. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Specifically, there is no assurance the Company will be able to raise the necessary funds to make all the cash payments and incur all of the exploration expenditures required to earn an interest in any of the mineral properties described herein; that it will be able to verify past drill results; that it will determine the existence of any mineralization, resources or reserves within any of the properties, whether of lithium or any other metal or substance. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
