SOURCE: Arak Resources Ltd.

March 24, 2017 14:20 ET

Arak Resources Ltd. - Appointment of New Director

VANCOUVER, BC--(Marketwired - March 24, 2017) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Arak Resources Ltd. (TSX VENTURE: AAC) (the "Company") announces the resignation of Benjamin Hill as a director, and the appointment of Dr. Jonathan Hykawy as his replacement. The Company would like to thank Mr. Hill for time and attention given to the Company over the years.

Dr. Hykawy was trained as an experimental physicist and worked at some of the most prestigious laboratories in North America, including the Chalk River Laboratories of Atomic Energy of Canada Limited as well as the Sudbury Neutrino Observatory. He, along with the rest of the Sudbury Neutrino Observatory Collaboration, was awarded the 2016 Breakthrough Prize in Fundamental Physics. He also earned a MBA degree from Queen's University, after which he began working in the financial industry in Toronto. Dr. Hykawy has been an equities analyst on Bay Street since 2000, covering technologies such as batteries and fuel cells, and the critical materials used to manufacture these technologies, including lithium, cobalt and the rare earths.

In particular, Dr. Hykawy has made cobalt and other battery materials a key part of his research focus since 2009, when he helped found Byron Capital Markets, a boutique brokerage operation that specialized in researching the industry and companies involved in various critical material sectors. His current business, Stormcrow, consults with various clients, including private equity investors, large multinational corporations and junior mining companies, who are involved in critical materials. Stormcrow's work includes analysis of supply and demand within a commodity sector, as well as future pricing projections.

Dr. Hykawy is widely quoted on battery materials such as cobalt, and is an invited speaker at such conferences as the 1-2-1 Mining Summit series, the Mines and Money series, the Lithium Supply and Markets series, the Roskill Rare Earths Conferences, the Argus Metals Week and Rare Earth Conferences, and various other events held around the world

The Company intends to employ the net proceeds of its recently completed private placement, with the assistance of Dr. Hykawy, to investigate new opportunities in the battery metals sector.

ARAK RESOURCES LTD.

Carl von Einsiedel

Carl von Einsiedel, Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • For further information please contact:
    Arak Resources Ltd.
    604-410-2277