Former vice president of Rockwood Holdings to begin outreach to global investment community
35 years of experience in institutional investor relations focused on the US and International markets
VANCOUVER, BC, February 1, 2017 – Lithium X Energy Corp. (“Lithium X“, or the “Company“) (TSX-V: LIX) (OTCQB: LIXXF) is pleased to announce the appointment of Timothy McKenna (“McKenna”) as Vice President, Investor Relations, US Government Relations and Corporate Communications, effective February 1, 2017. In this role, he will lead the Company’s communications strategy with investors, the media and government, community and industry audiences.
Mr. McKenna joins Lithium X with 35 years of experience in investor relations and communications. He was vice president of Rockwood Holdings Inc., then the largest manufacturer of lithium, from 2006 until Rockwood’s $6.2 billion combination with Albemarle Corporation. During his tenure, he created Rockwood’s investor relations and communications program and was instrumental in working with the U.S. Department of Energy to help Rockwood gain a $28 million grant to expand its lithium operations in North Carolina and Nevada’s Clayton Valley. Previously he was senior vice president of investor and government relations for Smurfit-Stone Container Corp., then the largest containerboard manufacturer.
“We are extremely pleased to welcome Tim McKenna to our executive team,” commented Brian Paes-Braga, Lithium X CEO. “Tim’s background speaks for itself. His skills and experience with the investment community and in particular the lithium space, being an integral part of the growth of Rockwood from a small cap company to a successful $6.2 billion take-over in 2014 will help us expand our shareholder base in the US and beyond as we continue to pursue our strategic goal of becoming the go-to upstream lithium company.”
The Company has retained McKenna through his firm, McKMagellan LLC which will receive a fee of $7,500 USD per month for a term of 2 years, with a 30 day notice of termination clause. The Company has also granted 150,000 incentive stock options to McKenna at an exercise price of $2.21, expiring 3 years from the date of grant, with quarterly vesting commencing three months from date of grant.
About Lithium X Energy Corp
Lithium X Energy Corp. is a lithium exploration and development company with a goal of becoming a low-cost supplier for the burgeoning lithium battery industry. Lithium X owns 50%, and has the option to acquire up to 80%, of the Sal de los Angeles lithium brine project in the prolific “Lithium Triangle” in mining friendly Salta province, Argentina, a well-known salar with a large resource and high concentrations of lithium. Lithium X’s Arizaro project consists of 33,846 hectares located in one of the world’s largest salars thought to contain elevated lithium brine values. Lithium X is also exploring a large land package in Nevada’s Clayton Valley, contiguous to the only producing lithium operation in North America – Silver Peak, owned and operated by Albemarle, the world’s largest lithium producer. Lithium X is listed on the TSXV under the trading symbol LIX.
For additional information about Lithium X Energy Corp., please visit the Company’s website at www.lithium-x.com or review the Company’s documents filed on www.sedar.com. Join the Company’s email list at http://lithium-x.com/subscribe.
ON BEHALF OF THE BOARD OF DIRECTORS
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
References to “production” or “pilot production” herein should not be construed to imply that the Company’s Sal de Los Angeles Project is in commercial production or that it contains mineral reserves. Further technical studies will be required to assess the project’s viability. There is no certainty that a potential mine will be realized or that a production decision will be made.
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, including the business of the Company and the commencement of trading in the Company’s shares. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.