5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX: 5EA) (“5E” or the
“Company”), a boron and lithium company with U.S. government
Critical Infrastructure designation for its 5E Boron Americas (Fort
Cady) Complex, today announced the resignation of its President and
Chief Executive Officer, Mr. Henri Tausch, effective October 31,
2022.
Mr. Tausch has resigned for personal reasons and
the Company has commenced an immediate search for a
replacement.
Mr. Anthony Hall will lead the Company effective
November 1, 2022 until the appointment of a new CEO is confirmed.
For the past eleven years Mr. Hall has been managing listed
companies, serving as the founding CEO and Managing Director of ASX
listed Highfield Resources in 2011 that went from a $10 million IPO
to an ASX300 company and successfully stewarding American Pacific
Borates Limited (the former parent company of 5E) through an ASX
listing in 2017 to a Nasdaq primary listing in March 2022 as a
founding director. Mr. Hall holds a Bachelor of Laws (Honors),
Bachelor of Business (Accounting and Finance), a Graduate Diploma
of Applied Finance and Investment, and is an Associate of the
Governance Institute of Australia. Mr. Hall has more than
twenty-five years commercial experience in strategy, venture
capital, risk management, and compliance.
Commenting on Mr. Tausch, Mr. David
Salisbury, 5E Chairman, said:
“Henri led our
re-domiciliation to the US which resulted in the Company being
listed on the Nasdaq Stock Market. His leadership was important
during this process and has resulted in the Company having a solid
position to build into the US. The strong leadership team assembled
during his tenure will continue executing the Company’s strategy to
become a fully integrated global leader in boron and lithium
advanced materials. We wish Henri the very best with his future
endeavors.”
About 5E Advanced Materials,
Inc.
5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX:
5EA) is focused on becoming a vertically integrated global leader
and supplier of boron specialty and advanced materials,
complemented by lithium co-product production. The Company’s
mission is to become a supplier of these critical materials to
industries addressing global decarbonization, food and domestic
security. Boron and lithium products will target applications in
the fields of electric transportation, clean energy infrastructure,
such as solar and wind power, fertilizers, and domestic security.
The business strategy and objectives are to develop capabilities
ranging from upstream extraction and product sales of boric acid,
lithium carbonate and potentially other co-products, to downstream
boron advanced material processing and development. The business is
based on our large domestic boron and lithium resource, which is
located in Southern California and designated as Critical
Infrastructure by the Department of Homeland Security’s
Cybersecurity and Infrastructure Security Agency.
Forward Looking Statements and
Disclosures
This press release includes “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. All statements other than
statements of historical fact included in this press release
regarding our business strategy, plans, goal, and objectives are
forward-looking statements. When used in this press release, the
words “believe,” “project,” “expect,” “anticipate,” “estimate,”
“intend,” “budget,” “target,” “aim,” “strategy,” “estimate,”
“plan,” “guidance,” “outlook,” “intent,” “may,” “should,” “could,”
“will,” “would,” “will be,” “will continue,” “will likely result,”
and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
such identifying words. These forward-looking statements are based
on 5E’s current expectations and assumptions about future events
and are based on currently available information as to the outcome
and timing of future events. We caution you that these
forward-looking statements are subject to all of the risks and
uncertainties, most of which are difficult to predict and many of
which are beyond our control, incident to the extraction of the
critical materials we intend to produce and advanced materials
production and development. These risks include, but are not
limited to: our limited operating history in the borates and
lithium industries and no revenue from our proposed extraction
operations at our properties; our need for substantial additional
financing to execute our business plan and our ability to access
capital and the financial markets; our status as an exploration
stage company dependant on a single project with no known
Regulation S-K 1300 mineral reserves and the inherent uncertainty
in estimates of mineral resources; our lack of history in mineral
production and the significant risks associated with achieving our
business strategies, including our downstream processing ambitions;
our incurrence of significant net operating losses to date and
plans to incur continued losses for the foreseeable future; risks
and uncertainties relating to the development of the Fort Cady
project, including our ability to timely and successfully complete
our Small Scale Boron Facility; and other risks. Should one or more
of these risks or uncertainties occur, or should underlying
assumptions prove incorrect, our actual results and plans could
differ materially from those expressed in any forward-looking
statements. No representation or warranty (express or implied) is
made as to, and no reliance should be place on, any information,
including projections, estimates, targets, and opinions contained
herein, and no liability whatsoever is accepted as to any errors,
omissions, or misstatements contained herein. You are cautioned not
to place undue reliance on any forward-looking statements, which
speak only as to the date of this press release.
For additional information regarding these
various factors, you should carefully review the risk factors and
other disclosures in the Company’s amended Form 10 filed with the
U.S. Securities and Exchange Commission on March 7, 2022, and its
Form 10-Q filed with the SEC on May 12, 2022, as well as the latest
risk factors described in the Form 8-K filed on August 11, 2022 and
Form 10-K filed on September 28, 2022. Additional risks are also
disclosed by 5E in its filings with the Securities and Exchange
Commission, as well as its filing under the Australian Securities
Exchange, throughout the year, including its Form 10-K, Form 10-Qs
and Form 8-Ks, as well as in its filings under the Australian
Securities Exchange. Any forward-looking statements are given only
as of the date hereof. Except as required by law, 5E expressly
disclaims any obligation to update or revise any such
forward-looking statements. Additionally, 5E undertakes no
obligation to comment on third party analyses or statements
regarding 5E’s actual or expected financial or operating results or
its securities.
Authorized for release by:
David Salisbury, Chairman of the Board of Directors
For further information contact:
Chance PipitoneInvestor Relations cpipitone@5eadvancedmaterials.com
Ph: +1 (346) 433-8912 |
J.T. StarzeckiChief Marketing
Officerjstarzecki@5eadvancedmaterials.comPh: +1 (612) 719-5076 |
Chris SullivanMediachris@macmillancom.comPh: +1 (917) 902-0617 |
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