Algoma Steel Group Announces Director Resignation
March 29 2023 - 5:30PM
Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the
Company”), a leading Canadian producer of hot and cold rolled steel
sheet and plate products, today announced that Brian Pratt has
resigned from the Board of Directors for personal reasons,
effective immediately.
"We thank Brian for his lasting impact and
valuable contributions to the Board during his tenure with us. We
fully support his decision, and we wish him the best in his future
endeavours," said Andy Harshaw, Chairman of Algoma’s Board of
Directors. Brian Pratt joined the Board of Directors in 2021 and
has served as a valuable member of the Operations and Capital
Projects Committee and Human Resources and Compensation
Committee.
Cautionary Statement Regarding Forward-Looking
Statements
This news release contains “forward-looking
information” under applicable Canadian securities legislation and
“forward-looking statements” within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 (collectively,
“forward-looking statements”). These forward-looking statements
generally are identified by the words “believe,” “project,”
“expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “design,” “pipeline,” “may,” “should,”
“will,” “would,” “will be,” “will continue,” “will likely result,”
and similar expressions. Forward-looking statements are
predictions, projections, and other statements about future events
that are based on current expectations and assumptions. Many
factors could cause actual future events to differ materially from
the forward-looking statements in this document. Readers should
consider the risks and uncertainties set forth in the section
entitled “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” in Algoma’s Annual Report on Form 20-F,
filed by Algoma with the Ontario Securities Commission (the “OSC”)
(available under the company’s SEDAR profile at www.sedar.com) and
with the SEC (available at www.sec.gov), as well as in Algoma’s
current reports with the OSC and SEC. Forward-looking statements
speak only as of the date they are made. Readers are cautioned not
to put undue reliance on forward-looking statements, and Algoma
assumes no obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
About Algoma Steel Group
Inc.
Based in Sault Ste. Marie, Ontario, Canada,
Algoma is a fully integrated producer of hot and cold rolled steel
products including sheet and plate. Driven by a purpose to build
better lives and a greener future, Algoma is positioned to deliver
responsive, customer-driven product solutions to applications in
the automotive, construction, energy, defense, and manufacturing
sectors. Algoma is a key supplier of steel products to customers in
North America and is the only producer of discrete plate products
in Canada. Its state-of-the-art Direct Strip Production Complex
(“DSPC”) is one of the lowest-cost producers of hot rolled sheet
steel (HRC) in North America.
Algoma is on a transformation journey,
modernizing its plate mill and adopting electric arc technology
that builds on the strong principles of recycling and environmental
stewardship to significantly lower carbon emissions. Today Algoma
is investing in its people and processes, working safely, as a team
to become one of North America's leading producers of green
steel.
As a founding industry in their community,
Algoma is drawing on the best of its rich steelmaking tradition to
deliver greater value, offering North America the comfort of a
secure steel supply and a sustainable future as your partner in
steel.
For more information, please contact:
Brenda StentaManager Communications and BrandingAlgoma Steel
Inc.Phone: 705.945.2209Email: brenda.stenta@algoma.com
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