The Metals Company Appoints New Independent Board Director & Audit Committee Chair, Achieving 50-50 Gender Parity on Board
February 10 2022 - 8:00AM
The Metals Company (NASDAQ: TMC) (the “Company” or “TMC”), an
explorer of lower-impact battery metals from seafloor polymetallic
nodules, today announced that Kathleen McAllister has been
appointed to its Board of Directors as an Independent Director, as
it advances its seafloor polymetallic nodule project to supply the
world with critical base metals needed for the energy transition.
Kathleen will first join the Board as a director until April 1,
2022, when it is expected that she will assume the role of TMC
Audit Committee Chair with the remit of ensuring rigorous internal
controls, quality financial accounting and corporate reporting.
Kathleen currently serves as an Independent Director and member of
the Audit Committees for electric and gas utility company, Black
Hills Corporation (NYSE: BKH), and energy infrastructure provider,
Höegh LNG Partners LP (NYSE: HMLP), following a two-year tenure as
chair of the Audit and Risk Committee of Maersk Drilling. In her
various executive roles at Transocean Partners LLC (NYSE: RIGP)
including President and CEO, Kathleen guided the formation of the
company and led the IPO of a 29% interest in the company. She
previously served as Vice President of Transocean Ltd. (NYSE: RIG),
an international offshore drilling contract services provider,
where she led over $20 billion in capital market transactions.
Gerard Barron, Chairman & CEO of The Metals Company, said:
“Kathleen brings extensive leadership experience at global,
capital-intensive companies across the energy value chain including
those specializing in deep ocean operations, and we are thrilled
that she has accepted our invitation to join the Board. She brings
keen insight and critical oversight to the Company during a crucial
development phase. We look forward to Kathleen’s contributions to
our mission.”
About The Metals Company
TMC the metals company Inc. (The Metals Company) is an explorer
of lower-impact battery metals from seafloor polymetallic nodules,
on a dual mission: (1) supply metals for the clean energy
transition with the least possible negative environmental and
social impact and (2) accelerate the transition to a circular metal
economy. The company through its subsidiaries holds exploration
rights to three polymetallic nodule contract areas in
the Clarion Clipperton Zone of the Pacific
Ocean regulated by the International Seabed Authority and
sponsored by the governments of Nauru, Kiribati and
the Kingdom of Tonga. More information is available
at www.metals.co.
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Forward Looking StatementsCertain statements
made in this press release are not historical facts but are
forward-looking statements for purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. Forward-looking statements generally are accompanied by words
such as “believe,” “may,” “will,” “estimate,” “continue,”
“anticipate,” “intend,” “expect,” “should,” “would,” “plan,”
“predict,” “potential,” “seem,” “seek,” “future,” “outlook” and
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from those discussed in the forward-looking statements.
Most of these factors are outside TMC’s control and are difficult
to predict. Factors that may cause such differences include, but
are not limited to: regulatory uncertainties and the impact of
government regulation and political instability on TMC’s resource
activities; changes to any of the laws, rules, regulations or
policies to which TMC is subject; the impact of extensive and
costly environmental requirements on TMC’s operations;
environmental liabilities; the impact of polymetallic nodule
collection on biodiversity in the CCZ and recovery rates of
impacted ecosystems; TMC’s ability to develop minerals in
sufficient grade or quantities to justify commercial operations;
the lack of development of seafloor polymetallic nodule deposit;
uncertainty in the estimates for mineral resource calculations from
certain contract areas and for the grade and quality of
polymetallic nodule deposits; risks associated with natural
hazards; uncertainty with respect to the specialized treatment and
processing of polymetallic nodules that TMC may recover; risks
associated with collective, development and processing operations;
fluctuations in transportation costs; testing and manufacturing of
equipment; risks associated with TMC’s limited operating history;
the impact of the COVID-19 pandemic; risks associated with TMC’s
intellectual property; and other risks and uncertainties, including
those in the “Risk Factors” sections, included in the final
prospectus and definitive proxy statement, dated and filed with the
Securities and Exchange Commission (the “SEC”) on August 12, 2021
relating to the business combination, in TMC’s Quarterly Report on
Form 10-Q for the quarter ended September 30, 2021, filed by TMC
with the SEC on November 15, 2021, and in TMC’s other future
filings with the SEC. TMC cautions that the foregoing list of
factors is not exclusive. TMC cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. TMC does not undertake or accept any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions, or circumstances
on which any such statement is based except as required by
law.
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