Business
Avalon Appoints Two New Board Directors to Help Accelerate Its Critical Minerals Strategy
Toronto, Ontario--(Newsfile Corp. - September 11, 2023) - Consistent with its strategic transform...
About this update from Avalon Advanced Materials Inc.
[{"type":"text","content":"Avalon Appoints Two New Board Directors to Help Accelerate Its Critical Minerals StrategyToronto, Ontario--(Newsfile Corp. - September 11, 2023) - Consistent with its strategic transformation into a leading Canadian critical minerals producer serving the North American market, Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) (\"Avalon\" or the \"Company\") is pleased to announce the addition of two new directors who bring extensive expertise in international capital markets and resource development.Alec Kodatsky, Founding Partner, Forthlane Partners, Ltd., and former Brendon-Woods \"Top Gun\" metals and mining equity analyst and a mining engineer, joins Avalon as a member of its Board of Directors (the \"Board\").Benny Loix, Vice President – Commercial North America, at SCR Sibelco NV (\"Sibelco\") joins Avalon as Sibelco's nominee to the Board. These appointments will further support a new growth phase at Avalon, consisting of bringing the Company's portfolio of critical minerals assets into production, as well as building a vertically integrated lithium supply chain in Ontario. \"Mr. Kodatsky and Mr. Loix represent significant additions to Avalon's Board of Directors, deepening our expertise and capabilities with respect to executing on the Company's aggressive growth agenda,\" said Alan Ferry, Lead Director, Avalon. \"We look forward to their help in furthering our strategic objectives, which include building a midstream lithium processing facility in Ontario that can efficiently, securely and sustainably see the province's lithium supply the North American EV battery market.\"Mr. Kodatsky, based in Toronto, who will also join the Company's Audit Committee, brings more than two decades of experience conducting in-depth financial analysis and research in the metals and mining sector. He has extensive experience in firsthand assessments of operating and developmental mining assets for institutional and investment banking clients in Canada and internationally. Pursuant to the terms of an investor rights agreement entered into between Avalon and Sibelco on June 14, 2013 as part of the joint venture between the two companies, Mr. Loix, who will be based in Charlotte NC, joins Avalon to accelerate the development of Avalon's portfolio of lithium deposits. He has served in Sibelco's Treasury Executive Vice President G...