VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 18, 2015) - Alabama Graphite Corp. ("Alabama Graphite" or the "Company") (TSX VENTURE:ALP)(OTCQX:ABGPF)(FRANKFURT:1AG)(WKN: A1J35M)(ISIN# CA0102931080) is very pleased to announce the appointment of Don Baxter, P.Eng. as Co-Chief Executive Officer ("CEO") and a member of the Board of Directors of Alabama Graphite effective immediately.
Mr Baxter's primary responsibilities will focus on the mining side of the Company's operations and will include the following: (1) completion of a Preliminary Economic Assessment, using environmentally conscious processes, for the Coosa Project in Alabama, USA, (2) to secure offtake agreements, and (3) to develop a reliable and environmentally conscious graphite battery component supply chain for just-in-time delivery of graphite and graphite value-added products to targeted corporations operating in the USA. Mr. Ron Roda will remain as President, Co-CEO, Corporate Secretary and a member of the Board of Directors, with primary responsibility for corporate strategy, developing the Company's technological interests, intellectual property and determining commercial scalability of its naturally occurring graphene discoveries.
Mr. Baxter holds a degree in Mining Engineering from Queen's University and is a Registered Professional Engineer and a "Qualified Person" as defined under NI 43-101.
Mr. Baxter is one of the premier graphite mining experts on the continent, having helped define 3 graphite deposits and has built 1 of only 2 producing graphite mines.
Most recently, Mr. Baxter served as President and Chief Operating Officer of Focus Graphite Corporation from September 2013 until May 2015. Mr. Baxter led Focus to wide recognition in the graphite industry and updated the company's preliminary economic assessment and advanced the Company to a completed feasibility study. He was also responsible for rapidly advancing the development of value added graphite products, namely coated spherical graphite for the lithium ion battery sector.
Prior to Focus Mr. Baxter served as President of Northern Graphite Corporation from February 2011 and July 2013 and was responsible for all technical aspects relating to the Bissett Creek graphite project, including the bankable feasibility study, metallurgical test work and environmental and mine permitting, as well as developing battery related graphite products.
Mr. Baxter also served as Mine Superintendent at the Kearney Graphite mine when it operated in the 1990s, providing true operational experience in graphite mining and processing. He served as Director of Mining at Ontario Graphite Ltd., has worked for Inco and Noranda Minerals, as well as on numerous consulting projects for base and precious metals.
"We are delighted and fortunate to have Don join our team," said Alabama Graphite chairman Jean Depatie. "His unparalleled skills working with PEA's and feasibility studies for graphite will be very useful to the Company as we enter the next exciting stage of our mine development, the completion of our PEA and inroads with target quality companies which require large supplies of graphite for both the EV market and ever growing energy storage market."
"Don's appointment provides us with the skillset we need to aggressively pursue our dual mandates of building a graphite mine and expanding our technological horizons in graphene and related graphite materials," said Ron Roda, who remains Co-CEO with primary responsibility for developing the Company's technological interests.
Mr. Baxter commented, "It is refreshing to join a graphite company with a clear, consolidated focus of advancing to production and with the intent of doing so in the shortest time possible. Although I am very impressed with Alabama Graphite's projects, namely Coosa, and the entire management team, I find the Company's Board of Directors even more compelling. When it comes to producing and selling graphite, an excellent graphite deposit and a strong technical team are, essential. The board at Alabama Graphite has tremendous graphite mining experience and is among the finest in the graphite industry. I am honored to serve on this board with Jean Depatie and Daniel Goffaux, both of whom were building a graphite mine in Quebec as I was doing the same in Ontario in the early 1990s. In addition, David Ramm and Co-CEO Ron Roda bring corporate strategy, strong financial and relevant technical expertise to the Board."
"The United States is a tremendous market for graphite, with no producing graphite mines. I look forward to help lead Alabama Graphite in addressing security of U.S. domestic supply of a critical strategic material with significant future demand," said Mr. Baxter.
In connection with his appointment, the Company has granted a total of 500,000 incentive stock options to Mr. Baxter at an exercise price of $0.27 per share for a period of five years in accordance with the provisions of the Company's stock option plan.
Mr. Rick Keevil will step down from the Board of Directors, but will continue his role as VP of Project Development with the Company.
About Alabama Graphite
Alabama Graphite Corp.'s mission is to become one of the greenest graphite producers in the world. The Company, through its wholly-owned subsidiary, Alabama Graphite Company Inc., is conducting exploration and development both at its flagship Coosa Graphite Project in Coosa County, Alabama, USA and the recently acquired Bama Mine Project in Chilton County, Alabama, USA. Alabama Graphite holds a 100% interest in the mining leases in respect of these two advanced-stage projects, both of which are on private land. The two projects encompass over 43,000 acres and are located in an area with significant historical production of crystalline flake graphite. The Company has the largest NI 43-101 indicated flake graphite resource in the United States based on drilling 0.18 square miles (0.3% of the total acreage). The Alabama deposits are unique in that a significant portion of the graphite-bearing material is oxidized and has been broken down into an extremely soft rock. Both projects have in place critical infrastructure, are within close proximity to transportation routes and enjoy a hospitable climate allowing for year-round production and delivery. For further information and updates on the Company, please visit www.alabamagraphite.com.
Disclaimer for Forward-Looking Information
This press release contains forward-looking information under applicable Canadian securities laws ("forward-looking statements") that are based on the beliefs of management and reflect Alabama Graphite Corp.'s current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current view of Alabama Graphite Corp. with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among other things, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of graphite; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Company's publicly filed documents. Forward-looking statements are also based on a number of assumptions, including that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen breakdowns, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Alabama Graphite Corp. undertakes no obligation to update forward-looking statements (unless required by law) if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Alabama Graphite Corp cautions that the foregoing list of material factors and assumptions are not exhaustive. When relying on Alabama Graphite Corp. forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and assumptions and other uncertainties and potential events. Alabama Graphite Corp. has also assumed that the material factors and assumptions will not cause any forward-looking statements to differ materially from actual results or events. However, the list of these factors and assumptions is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
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