Pan American Energy Announces Change in Board of Directors and Advisory Team and Equity Incentive Issuances
November 11 2022 - 8:00AM
Pan American Energy Corp. (the
“
Company” or “
Pan American”)
(
CSE: PNRG) (
OTC PINK: PAANF)
(
FRA: SS6) announces an update related to its
Board of Directors and the Company’s advisory team.
Board of Directors Update
As the result of a board update, Pan American has
appointed William Gibbs to the Board of Directors, effective
November 10, 2022.
William Gibbs brings to Pan American’s board more
than 17 years of expertise in leading teams and business
development with a focus on oil and gas and mining in Canada and
the United States. He has served as a senior executive consultant
and strategic advisor for multi-industry business operations.
Mr. Gibbs said, “I am honoured to have the
opportunity to serve on the Board to help deliver Pan American’s
mission of expanding the boundaries of the North American lithium
supply chain. I look forward to supporting the Company in their
exploration efforts, commercialization strategy, and technology
partnerships.”
“We are pleased to welcome an executive of Mr.
Gibbs’ caliber to the Board,” said Jason Latkowcer, Chief Executive
Officer. “We believe the Board will recognize immediate benefits
from Mr. Gibbs’ business acumen, mining technology expertise and
network in both Canada and the United States.”
Concurrent with Mr. Gibb’s appointment, Eli
Dusenbury will step down from the Board. “On behalf of the entire
Board and management team, I would like to thank Eli for his
service,” said Latkowcer. “We are grateful for his valuable
contributions through the Company’s listing process, multiple
property acquisitions, and recent capital raise that created the
company we are today. We wish him all the best in his future
endeavors.”
Advisory Team
Pan American also announces that is has contracted
Foster Wilson to serve as a member of the Company’s advisory team
effective November 15,, 2022. Mr. Wilson is a geologist with over
30 years of experience. Mr. Wilson has significant experience in
the generation and development of lithium claystone and brine
exploration projects. Mr. Wilson serves as a director of TSX
Venture Exchange listed Alpha Lithium Corp. and Atomic Minerals
Corp. (TSX:V:ATOM).
“Foster Wilson’s experience with Pan American’s US
asset base is second to none,” comments Jason Latkowcer. “Mr.
Wilson will add incredible bench strength to our technical advisory
team. We are fortunate to have a geologist with his track record
who can assist with our exploration work with RESPEC at the Green
Energy Project in Utah and the Horizon Lithium Project in Nevada on
an as-needed basis.”
Equity Incentive Issuances
Pan American also announces that it has granted
250,008 restricted share rights (“RSRs”) and
200,000 stock options (“Options”), each with an
exercise price of $0.71 to Mr. Gibbs in connection with his
appointment to the board of the Company, and an aggregate of
850,000 RSRs to certain consultants of the Company. The RSRs and
Options granted to Mr. Gibbs shall vest in quarterly installments
of 20,834 RSRs and 50,000 Options beginning on January 31, 2023.
The RSRs granted to the consultants of the Company vest
immediately. Each vested RSR entitles the holder to receive one
common share of the Company. Each vested Option, upon payment of
the exercise price, entitles the holder to receive one common share
of the Company. The Options granted to Mr. Gibbs expire on November
10, 2027.
About Pan American Energy
Corp.
Pan American Energy Corp. (CSE: PNRG) (OTC PINK:
PAANF) (FSE: SS6) is an exploration stage company engaged
principally in the acquisition, exploration and development of
mineral properties containing battery metals in North America.
The Company’s flagship asset is the 100% owned
Green Energy Lithium Project, located in the Paradox Basin, Utah,
USA. The Company has also entered a property option agreement with
Horizon Lithium LLC with the right to acquire 100% interest in the
Horizon Lithium Project, located within the Clayton Valley –
Tonopah Lithium Belt, Nevada, USA.
The Company executed an option agreement in
Canada with Magabra Resources with the right to acquire up to 90%
interest in the drill-ready Big Mack Lithium Project, 80 km north
of Kenora, Ontario.
On Behalf of the Board of
DirectorsJason LatkowcerCEO & Director
ContactPhone: (585) 885-5970
Email: info@panam-energy.com
Forward-Looking Statements
The Company provides forward-looking
statements for the purpose of conveying information about current
expectations and plans relating to the future and readers are
cautioned that such statements may not be appropriate for other
purposes. By its nature, this information is subject to inherent
risks and uncertainties that may be general or specific and which
give rise to the possibility that expectations, forecasts,
predictions, projections, or conclusions will not prove to be
accurate, that assumptions may not be correct, and that
objectives, strategic goals and priorities will not be achieved.
These risks and uncertainties include but are not limited those
identified and reported in the Company’s public filings under the
Company’s SEDAR profile at www.sedar.com. Although the Company has
attempted to identify important factors that could cause actual
actions, events, or results to differ materially from those
described in forward-looking information, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate as actual results and
future events could differ materially from those anticipated in
such statements. The Company disclaims any intention or obligation
to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise unless
required by law.
The CSE has neither approved nor
disapproved the information contained herein.
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