Vancouver, BC – TheNewswire – February 17, 2023 – Molten Metals Corp. (the “Company”) (CSE:MOLT) today announced that it has completed the mailing of its Management Information Circular and proxy materials to shareholders in connection with its first annual general meeting of shareholders (the “Meeting”) scheduled to be held March 13, 2023. The Meeting will be the Company’s first annual general meeting of shareholders since having completed the listing of the common shares of the Company on the Canadian Securities Exchange in August 2022.
Your participation in this meeting will determine the future of your investment at a critical moment for the Company.
The Meeting has been called, in part, in response to a requisition made by a shareholder of the Company, Christopher Ecclestone (“Mr. Ecclestone”). Mr. Ecclestone was previously a director and Chief Executive Officer of the Company, but resigned from both positions on December 22, 2023.
Following Mr. Ecclestone’s resignation over the Christmas holidays, the Company’s remaining board members and management have seized the opportunity presented to re-build and establish a strong, experienced, and capable management team comprised of Ms. Lara Smith, Chief Executive Officer, Nelson Lamb, Chief Financial Officer, Jon Harris, Chief Operating Officer, Hugh Oswald, Non-Executive Director and Brooklyn Reed, Corporate Secretary.
At the Meeting, Management intends to continue augment its leadership team by expanding its existing board of directors to include two additional independent directors, Simon Hobson and Joel Montgomery.
Management strongly believes that a bright future for Molten Metals can be achieved under the qualified and experienced leadership of the following existing and proposed directors (together the “Management Slate”), who have a strong balance of technical and commercial backgrounds:
1. Lara Smith, Chief Executive Officer and Director
· Ms. Smith is a seasoned mining analyst and consultant with nearly two decades of experience in working on pre-feasibility, feasibility studies and reviewing offtake agreements. She has been CEO of Core Consultants Pty Ltd since 2009, a consultancy firm focused on evaluating the economics of mining companies. She is responsible for securing a significant portion of the Company’s seed capital, including the Company’s largest shareholders.
2. Jon Harris, Chief Operating Officer and Director
· Mr. Harris is a seasoned Process and Chemical Engineer with nearly forty years’ experience. He has successfully evaluated and managed several brownfield bauxite, cobalt, gold and nickel projects in some of the world’s most challenging environments.
3. Hugh Oswald, Director
· Mr. Oswald is a founder of the Company and responsible for securing a significant portion of the Company’s seed operating capital. He has been instrumental in overseeing the smooth running of the Company and ensuring compliance with Canada’s Security Exchange.
4. Simon Hobson, Proposed Director
· Mr. Hobson is a Mining Engineer with extensive experience with commercial and financing transactions involving understood, but under-interrogated, critical mineral deposits. Mr. Hobson has been instrumental in Molten Metal’s access and inclusion of the West Gore antimony-gold deposit in Nova Scotia.
5. Joel Montgomery, Proposed Director
· Joel is a seasoned executive with 25+ years of experience and strong leadership and technical background in various international mineral processing operations, including Vale Base Metals. He is currently the CEO of Strategic and Precious Metals Processing (SPMP), the largest Antimony roaster of its kind outside of China. SPMP processes about 15% of the world’s average annual Antimony and are looking to strengthen and secure their supply chain. Joel is known for leading operational turnarounds and building solid systems and efficient organizations.
For more information about the backgrounds, experience and qualifications of the Management Slate, please refer to their detailed biographies in the Management Information Circular for the Meeting, which has been filed under the Company’s profile at www.SEDAR.com, under the heading “Particulars of Matters to be Acted Upon at the Meeting – Election of Directors”.
The Company is poised in an opportune position to embrace a fresh operating strategy and a way forward to maximize its portfolio of assets and build significant shareholder value.
In consultation with the Company’s local Slovakian advisors and operators, the Company’s management and current and proposed board members are enthusiastic to embrace a new operating strategy which represents a 180-degree about face from the Company’s past operations.
Under the “New Strategy” the Company aims to evaluate the reserve and mining potential of each of its four assets with the aim of identifying viable opportunities that can be taken into production. In connection with which, we plan to apply for mining licenses as soon as possible.
Under the direction of the highly qualified Management Slate and its broad and invaluable experience, the Company’s senior leadership team comprised of its re-constituted board of directors and management team will be a strong, cohesive and highly qualified team uniquely positioned to embrace and implement the Company’s revitalized operating strategy and capitalize on the Company’s assets to build long-term shareholder value.
In contrast, Mr. Ecclestone has voiced his express aversion to embracing the operating strategy developed on the advice of the Company’s local experts and technical advisors, preferring, instead, to continue to follow his long-standing strategy. A strategy whereby the local experts have cautioned that not only is it wholly uneconomic, but it is also fraught with logistical impracticalities and could potentially expose the Company to liability under local Slovakian law.
Mr. Ecclestone has previously resigned from another listed company’s management team, its main board and board of its subsidiary. Mr. Ecclestone now seeking to re-join the Company’s board further demonstrates that he is not a team player, is dogmatic with respect to his strategy, even when faced with new information regarding potential legal ramifications and has disregarded the advice of other industry experts, members of his own leadership team and paid technical advisors as to what is required to ensure that the Company is operating to achieve maximum value to its shareholders.
VOTE YOUR PROXY To protect your investment, shareholders are encouraged to vote FOR the appointment of Ms. Smith, Mr. Harris, Mr. Oswald, Mr. Hobson and Mr. Montgomery, and vote WITHHOLD on the appointment of Mr. Ecclestone. If you have already voted using another proxy, you may vote again using the enclosed form of proxy. Only the proxy bearing the later date will count as it will supersede any previously voted proxy.
If you require assistance with voting your proxy, or if you have previously voted and wish to revoke your previously voted proxy or to change your vote, please contact Brooklyn Reed, Corporate Secretary – +1 778.918.2261 – brooklyn@moltenmetalscorp.com.
About Molten Metals Corp
Molten Metals Corp. is a mining company exploring for and developing antimony projects. Antimony is a critical element with many industrial applications. For further information, please refer to the Company’s disclosure record on SEDAR (www.sedar.com) or contact the Company by email at brooklyn@moltenmetalscorp.com or by telephone at 778.918.2261.
For Additional Information Please Contact
Brooklyn Reed
Corporate Secretary
Molten Metals Corp.
778.918.2261
Email: brooklyn@moltenmetalscorp.com
Forward-Looking Information
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “would”, “may”, “could” or “should” occur. Although Molten Metals believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, weather, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
