Defense Metals Corp. (TSXV: DEFN,OTC:DFMTF) (“Defense Metals” or the “Company”), is pleased to announce the appointment of Ali Mahdavi as Senior Vice President, Corporate Development and the granting of incentive stock options to employees and directors who recently joined Defense Metals.
“As we continue to advance our Wicheeda critical minerals project, we are pleased with the addition of Ali to the Defense Metals management team.” said president and CEO, Mark Tory. “Ali’s role will focus on maximizing our exposure to investors and analysts, and identifying, evaluating and executing business opportunities for Defense. Ali has unparalleled depth of experience across the entire rare earth elements value chain and will be an important addition to Defense Metals as we move forward.”
“I am thrilled to be joining Defense at a time when the Critical Minerals and Rare Earth Elements projects are at the center of the political and economic agendas of countries around the world.” said Mr Mahdavi. “The development of Wicheeda is well advanced, with a growing team and a strong preliminary feasibility study completed. This puts Defense Metals in an excellent position at a time when Canada and the US is accelerating its plans to secure domestic supplies of these crucial minerals. I look forward to helping Defense find the right markets and the right partners to move Wicheeda forward. I look forward to engaging with our shareholders and the broader capital markets, and communicating our plans and strategies as we continue to grow the value of Defense Metals Corp.”
Mr. Mahdavi has more than 30 years of experience in the capital markets, with a focus on the rare earths industry. Mr. Mahdavi is the founder and CEO of Spinnaker Capital Markets Inc., a Toronto an established capital markets consultancy with a twenty-year track record of mapping long-term success for private and public companies across a variety of sectors, specializing in growth capital sourcing, mergers and acquisitions, and investor relations. Prior to joining the Defense Metals team, Mr. Mahdavi was SVP of Corporate Development and Capital Markets at Neo Performance Materials, where he spent more than 20 years working closely with the board and management team to successfully access capital and identify financing solutions to grow the business, and to advise on merger and acquisition strategies. Mr Mahdavi was present University of York where he studied economics and business administration and started his career at the Bank of Nova Scotia and the Canadian Imperial Bank of Commerce.
Incentive Stock Option Grants
The Company grants 2,675,000 incentive stock options (“Options”) to directors, officers and consultants of the Company, subject to approval by TSX Venture Exchange. Each Option gives the holder the opportunity to purchase one ordinary share of Defense Metals for a period of five years at a price of € €0.30 per common share, in accordance with the terms of the Company’s stock option plan and subject to certain unconditional provisions.
Guy de Selliersexecutive chairman of the company, said: “As we continue to accelerate Wicheeda’s development, it is essential that we also recognize and encourage our growing management team at Defense. Following the appointment of Mark Tory as CEO at January 2024we have been able to support him with the addition of high caliber staff in the areas of finance, sustainability, governance and business development, along with strengthening our Board of Directors with the appointment of Mary Ann Crichton.”
About defense metals
Defense Metals Corp. is focused on developing its 11,800-hectare (~29,158-acre) Wicheeda Rare Earth Element (REE) deposit located on the traditional territory of the McLeod Lake Indian Band in British Columbia, Canada.
The Wicheeda Project, about 80 kilometers (~50 miles) northeast of the city Prince Georgeis easily accessible via a paved highway and all-weather dirt roads and is close to infrastructure including hydropower transmission lines and gas pipelines. The nearby Canadian National Railway and major highways provide easy access to port facilities Prince Rupertthe nearest major North American port Asia. The company recently completed a Preliminary Feasibility Study (PFS) that demonstrated the robust economics of the project.
For more information please visit www.defensemetals.com or contact:
Mark Tory
Chairman and CEO
Tel: +1 604-445-8179
E-mail: mark@defensemetals.com
Cautionary Statement Regarding Forward-Looking Statements:
Certain statements and information contained in this document constitute “forward-looking information” within the meaning of National Instrument 51-102 – Continuous Disclosure Obligations of the Canadian Securities Administrators. These statements and information are based on facts currently available to the company and there can be no assurance that actual results will meet management’s expectations. Forward-looking statements and information may also be identified by terms such as “anticipates,” “believes,” “targets,” “estimates,” “plans,” “expects,” “may,” “will,” “could” or “would.” Although the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue weight on such statements as actual events and results may differ materially from those described herein. 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 forward-looking statements in this press release include, among other things, statements regarding the ultimate size of the Offering, the Company’s satisfaction of all conditions to a timely closing of the Offering, including the receipt of all required approvals, the proposed use of the proceeds of the Offering, the completion of the Concurrent Offering, the completion of the Debt Repayments and the proposed closing date of the Offering. All forward-looking information contained in this press release is made as of the date of this press release and is based on management’s opinions and estimates and information available to management as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Defense Metals Corp.
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