TORONTO, ONTARIO--(Marketwired - April 12, 2017) - Lithium Energi Exploration, Inc. (TSX VENTURE:LEXI) ("LEXI" or the "Company") is pleased to announce the appointment of Steven C. Howard as Chief Executive Officer of the Company. In addition to the role of Chief Executive Officer, Mr. Howard will serve as a director on the Company's Board.
Prior to joining LEXI, Mr. Howard has owned his own Dallas-based consulting firm for over 30 years providing advice to clients on energy and technology projects. Mr. Howard was one of the co-owners of LEXI's recently acquired Argentina lithium assets and as a result of the transaction, Mr. Howard owns or controls 8,400,000 common shares of LEXI representing 17.9% of the Company's outstanding common shares. Since 2004, Mr. Howard served as President of Earthwise Energy, Inc. ("EEI"), a Dallas-based E&P company in the oil and gas sector, spearheading its shareholder base, field operations, and E&P investments, which accumulated over 20bcf of proven reserves. During the past 40 years of his marketing and administrative experience, Mr. Howard has provided merger/acquisition advisory services for, and has held senior management positions with, both public and private companies, concentrating on natural resource development and environmental sector strategies with mezzanine funding of up to $50mm per project, including supervision of multiple mining properties early in his career. During his prior service as CEO of a NASDAQ-traded resource management firm in the recycling industry, he received the EPA Administrator's Award for environmental excellence. Mr. Howard's entrepreneurial skills also include exceptional writing and translation expertise with Spanish as his second language. For the past 20 years, Mr. Howard has served as a Director of Dallas Children's Charities, a regional 501(c)(3) non-profit corporation that contributes over a million dollars per year to improve the lives of more than 150,000 disadvantaged youth in North Texas. He resides in Dallas, Texas.
Also joining LEXI's management team as Vice President for South American Operations is Mr. Omar E. Ortega. A native of Argentina, Mr. Ortega was also a co-owner of LEXI's recently acquired Argentina lithium assets and as a result of the transaction, Mr. Ortega owns or controls 5,300,000 common shares of LEXI representing 11.3% of the Company's outstanding common shares. Mr. Ortega has an extensive career in international investment banking and project finance, supervising investments of $125mm in equity funding. He served for 8 years as Director General for Mexico of Inter-American Holdings, LLC, a merchant bank partner with Bank of Montreal. He was formerly the Director of Corporate Development for Viad Corporation (fka The Dial Corporation), supervised M&A in Southern Europe. Previously, he was the Senior Risk Analysis Officer for Bank of America, where he analyzed the most complex credits offered by the bank, directed analytical training, and enhanced interest risk measurement systems. Mr. Ortega received his MBA in Finance from Washington State University Graduate School of Business. He is fluent in English and Spanish and resides in Dallas, Texas.
Mr. Michael Denny, the Company's former CEO, will resign and also step down from the Board of Directors to pursue other opportunities. The Company would like to thank Mr. Denny for his prior service.
In addition, LEXI is pleased to announce it has retained Renmark Financial Communications Inc. ("Renmark") to handle its investor relations activities. In consideration of the services to be provided, the fees incurred by Lithium Energi Exploration, Inc. will be cash consideration of $7,000 per month, starting March 1, 2017 for a period of six months ending on August 31, 2017 and month-to-month thereafter. Renmark does not have any interest, directly or indirectly, in Lithium Energi Exploration, Inc. or its securities, or any right or intent to acquire such an interest.
About Lithium Energi Exploration, Inc.
Lithium Energi Exploration, Inc. is an exploration company specializing in the strategic acquisition, exploration and development of lithium brine assets in Argentina. The Company is headquartered in Toronto, Ontario and has offices in Dallas, Texas and Catamarca, Argentina. The common shares of the Company are listed on the TSX Venture Exchange (TSXV:LEXI). The Company recently completed the acquisition of Lithium Energi Argentina, S.A., Antofalla North, S.A., and Antofalla South, S.A., which together hold a portfolio of projects comprising over 128,000 hectares of lithium brine concessions in the Argentina Province of Catamarca in the heart of the lithium triangle.
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Hobbs, Chief Financial Officer and Director
Neither the 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.
The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this news release are made as of the date of this news release and the Company does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.