TORONTO, ONTARIO--(Marketwired - Aug. 23, 2016) -
NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES
Neo Lithium Corp. ("Neo Lithium" or the "Company") (TSX VENTURE:NLC) is pleased to announce the appointment of Mr. Carlos Vicens as the new Chief Financial Officer, effective immediately.
Mr. Vicens has eight years of Investment Banking industry experience, specializing in M&A and corporate finance, as well as over eight years in corporate development, strategy and operational experience in the power and construction industry in the United States with significant global deal experience. Most recently, Mr. Vicens served as Vice President in Scotiabank's Investment Banking Mining team, where he participated in over $10 billion of M&A transactions and over $5 billion in equity and debt issuances. Mr. Vicens is also a Director at Lemuria Royalties Corp. Mr. Vicens obtained his Bachelors of Arts degree in Finance & General Management from Universidad Metropolitana and his MBA from the Richard Ivey School of Business. Mr Vicens appointment is subject to the standard background check by the TSXV.
Mr. Julio Martinez has resigned from his role as Chief Financial Officer of Neo Lithium to pursue other opportunities. The Company's Board of Directors and management team would like to thank Mr. Martinez for his past services and wish him well in his future endeavours.
Waldo Perez, Chief Executive Officer of Neo Lithium, commented on the appointment of Mr. Vicens, "We welcome Carlos to the Neo Lithium team. The combination of his strong financial expertise and familiarity with the capital markets will expand the capability of our team as we move our Tres Quebradas Project forward."
Neo Lithium is also pleased to announce that it has engaged Spinnaker Capital Markets Inc. ("Spinnaker") as its investor relations advisor. The agreement is for an initial term of six months commencing July 1, 2016 to December 31, 2016 and under the terms of the agreement, Neo Lithium has granted 100,000 share options to the principal of Spinnaker. The options are to vest over five quarters and will be exercisable at a price of $1.631 per share. Spinnaker's mandate will focus on developing and expanding the network of investors, analysts, and financial intermediaries.
About Neo Lithium Corp.
Neo Lithium Corp is quickly becoming the most prominent new name in lithium brine exploration by virtue of its quality team and project. Already well capitalized, Neo is rapidly advancing its newly discovered Tres Quebradas (3Q) project - a high-grade lithium brine reservoir and salar complex in the Lithium Triangle. The 3Q project is located in the Province of Catamarca, the largest lithium producer in Argentina. The project covers approximately 30,000 hectares and the salar complex within this area is approximately 160 km2. Recent exploration results indicate a high grade target in the northern portion of the salar complex extending for approximately 14x3 km with the highest lithium grades in Argentina and combined lowest magnesium and sulphate impurities in the industry. Low impurities are a key factor in traditional low cost evaporation techniques for final lithium production. Hot springs on the property with elevated lithium content are part of the recharge system of the salar complex. The technical team that recently discovered this unique salar complex is one of the most experienced in the modern era in lithium salars, having discovered and lead the technical work, including resource definition and full feasibility study, that established the Cauchari lithium salar as the third largest lithium brine resource in the world.
Additional information regarding Neo Lithium Corp., its business activities is available on SEDAR at www.sedar.com under the Company's profile.
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. The TSX Venture Exchange Inc. has in no way approved nor disapproved the contents of this press release.
Forward-Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.