Crystal Peak Minerals Inc.

Crystal Peak Minerals Inc.

August 21, 2015 07:00 ET

Crystal Peak Minerals Inc. Announces Grant of Stock Options and New Chief Financial Officer

TORONTO, ONTARIO--(Marketwired - Aug. 21, 2015) - Crystal Peak Minerals Inc. ("Crystal Peak" or the "Company") (TSX VENTURE:CPM)(OTCQX:CPMMF) today announced that it has granted options to purchase an aggregate of 1,750,000 common shares ("options") to non-officer directors; an aggregate of 350,000 options to newly-elected non-officer directors; an aggregate of 1,375,000 options to officers of the Company and its subsidiaries; and an aggregate of 450,000 options to employees of and consultants to the Company's subsidiary. All options are exercisable over a period of five years at a price of $0.42 per common share. Half of the non-officer director stock options vested immediately, one-quarter shall vest on September 30, 2015, and one-quarter shall vest on December 31, 2015. Since the newly elected non-officer directors were appointed at the end of June 2015, one-half of their options shall vest on September 30, 2015 and one-half shall vest December 31, 2015. The options to officers of the Company and its subsidiaries and to employees and consultants of the Company's subsidiary shall vest in three equal installments on August 21, 2015, August 21, 2016, and August 21, 2017.

The options are granted pursuant to the Company's stock option plan, which was reapproved by shareholders at an annual and special meeting of shareholders held on June 23, 2015.

The Company is also pleased to announce the appointment of Thomas Pladsen as Chief Financial Officer. Mr. Pladsen will replace Spencer Thunell, who has served as the Company's Chief Financial Officer since 2011. Mr. Pladsen has more than 25 years experience with executive and director roles in private and public companies. Mr. Pladsen has served as a director since March 2010, and has also served as the chairman of the Company's audit committee during that time. Mr. Pladsen will remain a director, but be replaced as the audit committee chairman.

Mr. Pladsen received his Chartered Accountant designation with KPMG LLP in Toronto in the mid 1980's and has since held various financial positions with TSX Venture Exchange listed and private mining and technology companies. These positions included Chief Financial Officer of resource companies Katanga Mining Limited, Andina Minerals Inc., and Nighthawk Gold Corp., as well as consulting work for a number of listed junior mining companies. Since 2009, Mr. Pladsen has been the Chief Financial Officer of Atacama Pacific Gold Corporation, a Chilean gold exploration and development company. Mr. Pladsen holds a BBA from Wilfrid Laurier University and is a director of several TSXV companies, including Northfield Capital Corporation, a mining investment company that Mr. Pladsen has been a director of for over 25 years.

"I want to thank Spence Thunell for his extraordinary service to the company and to the board during his tenure and for his significant contributions to the Sevier Playa project," said Lance D'Ambrosio, Chief Executive Officer of Crystal Peak. "I can say with absolute certainty that we would not be where we are today without his help. While everyone at the Company will miss Spence, we all wish him the very best in his future endeavors."

About Crystal Peak Minerals Inc.

Crystal Peak's business is focused on the production of specialty fertilizers. Through Peak Minerals Inc., its indirect wholly-owned subsidiary, Crystal Peak controls, directly or through agreement, mineral leases on more than 124,000 acres on its Sevier Lake Playa property in Millard County, Utah. With a brine resource known to contain potassium, magnesium, sulphate, lithium, and a suite of other beneficial minerals, Crystal Peak is targeting the development and production of specialty fertilizers, including SOP, through the use of a cost-effective solar evaporation process. SOP and other specialty fertilizers are used in the production of high value, chloride-sensitive crops such as fruits, vegetables, and tree nuts. With the recent completion of a Preliminary Feasibility Study, the Company is currently engaged in engineering and analysis designed to support a feasibility study, environmental permitting, and ultimately mineral production.

For more information, please visit our web site at

Neither 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 release.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the completion and timing of a Feasibility Study and the results thereof, the targeting of the development and production of specialty fertilizers, including SOP, through the use of a cost-effective solar evaporation process, and the Company's future business. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is 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 or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Contact Information

  • Crystal Peak Minerals Inc.
    Lance D'Ambrosio
    Chief Executive Officer
    (801) 485-0223