Matt Silvestro Joins Geomega Board of Directors; Adds Magnet Industry and Operational Experience
June 04 2020 - 8:00AM
Geomega Resources Inc. (“
Geomega” or the
“
Corporation”) (TSX:V.GMA) (OTC: GOMRF), a rare
earth clean technologies developer for mining and recycling,
announces that Mr. Matt Silvestro, President & Owner of
Jobmaster Magnets Canada Inc. (“Jobmaster Magnets”), has joined the
Board of Directors of the Corporation.
“As Geomega is moving to the next phase of its
development, I am very pleased to welcome Mr. Silvestro as an
independent Director,” said Kiril Mugerman, President & CEO of
Geomega.
“We recently began a collaboration with
Jobmaster Magnets and it quickly became very clear that Matt can
bring significant industry knowledge and expertise to the
Corporation as we are moving towards production. His understanding
of the magnet supply chain is critical, especially in the current
global environment where industrial supply chains are being
redefined. As North America is looking to bring rare earths
downstream processing back home, Matt’s experience with magnetic
product design for various industries from aerospace to automotive
is important for Geomega to fit in that supply chain. Additionally,
Matt’s experience in operation management, setting up the required
ISO Quality management programs and internal audits will be vital
in the starting up of the first rare earths recycling plant.” added
M. Mugerman.
Mr. Silvestro brings over 25 years of
operational and magnetic materials marketplace experience within
Canada and North America to the Geomega Board. As president and
owner of Jobmaster Magnets, Mr. Silvestro is a Canadian
entrepreneur with an established track record of leading companies
during both growth stages and market downturns. His operational
experience spans all sides of a business from financial,
procurement, administration, quality management and production. He
has an expertise in developing technical solutions to industrial
and commercial clients. Before entering the magnetics industry, Mr.
Silvestro worked in the environmental services industry focusing on
waste management, water treatment, industrial cooling water and
power generation chemical treatment programs. Mr. Silvestro holds a
BA in Social Science (Geography – focus on soil science and
hydrology) from University of Western Ontario.
Pursuant to the Corporation’s Stock Option Plan,
Mr. Silvestro was granted a total of 250,000 incentive stock
options at an exercise price of $0.155 per option. These options
may be exercised for a period of 5 years after the grant date and
are vesting at a rate of 25% per six-month period, in accordance
with the terms of the Stock Option Plan of the Corporation.
About Geomega
(www.geomega.ca)Based in
Boucherville and St-Bruno, Canada, Geomega Resources has developed
a proprietary, environmentally friendly “ISR Technology” that
recycles rare earth elements with focus on the permanent magnet
industry and produces four high demand, high price, rare earth
elements (HHREE – specifically Nd, Pr, Tb, Dy).
The Corporation is advancing towards initial
production from its demonstration plant to supply HHREE’s to North
America and other parts of the world.
Geomega also owns the Montviel rare earth
carbonatite deposit and holds over 16.8M shares, representing
approximately 19% of the issued and outstanding shares of Kintavar
Exploration Inc. (KTR.V), a mineral exploration company that is
advancing the Mitchi stratiform copper project in Quebec.
For further information, please
contact:
Kiril Mugerman |
President and CEO |
Geomega |
450-641-5119 ext.5653 |
kmugerman@geomega.ca |
|
Nancy Thompson |
Vorticom Public Relations |
212.532.2208 |
nancyt@vorticom.com |
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Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release contains statements that may
constitute “forward-looking information” or “forward-looking
statements” within the meaning of applicable Canadian securities
legislation. Forward-looking information and statements may
include, among others, statements regarding future plans, costs,
objectives or performance of the Corporation, or the assumptions
underlying any of the foregoing. In this news release, words such
as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”,
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or by which, such future performance will be achieved. No assurance
can be given that any events anticipated by the forward-looking
information will transpire or occur, including as regards the
commercialization of any of the technology referred to above, or if
any of them do so, what benefits the Corporation will derive.
Forward-looking statements and information are based on information
available at the time and/or management's good-faith belief with
respect to future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of
which are beyond the Corporation’s control. These risks,
uncertainties and assumptions include, but are not limited to,
those described under “Risk Factors” in the Corporation’s annual
management’s discussion and analysis for the fiscal year ended May
31, 2019, which is available on SEDAR at www.sedar.com; they could
cause actual events or results to differ materially from those
projected in any forward-looking statements. The Corporation does
not intend, nor does the Corporation undertake any obligation, to
update or revise any forward-looking information or statements
contained in this news release to reflect subsequent information,
events or circumstances or otherwise, except if required by
applicable laws.
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