Business
Ceylon Graphite Appoints the Founder and Major Shareholder Sasha Jacob as Interim CEO
Vancouver, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) ( the “Company”) is pleased to announce that the Company
About this update from Ceylon Graphite Corp.
[{"type":"text","content":" Vancouver, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) ( the “Company”) is pleased to announce that the Company has appointed founder and major shareholder Sasha Jacob as interim CEO and Director. Mr. Jacob is a seasoned corporate executive with extensive operational experience in Sri Lanka and the experience and skill set required to lead Ceylon Graphite in working with local mining leadership, governmental bodies and graphite buyers as the Company approaches commercial production in the coming months. The Board of Directors has also accepted the resignation of interim Chief Executive Officer Don Baxter. Mr. Jacob has a long history of successful business in Sri Lanka. He was a co-founder and principal shareholder of South Asia Energy Management Systems (SAEMS), formerly Sri Lanka’s largest independent hydropower producer. As the founder of Ceylon Graphite, he worked with local leadership to secure government support and licensing to establish the company on a solid footing, and as an advisor and principal investor, he has been a market leader in Canada as well as emerging markets in renewable energy finance, specialty metals and clean tech initiatives. “Sasha is the right person at the right time to step in to oversee activity at the local level for the company, put the team in place to rapidly expand production capability. He is also ideally suited to work with automotive OEMs and battery manufacturers to secure Ceylon Graphite’s place in the Electric Vehicle battery ecosystem through offtake agreements with major manufacturers,” said Rita Theil, Chair of the Board of Directors. “We are grateful to Don for his hard work to put the mines on solid footing to move forward and thank him for his contributions as Interim CEO while the company was in transition.” “Ceylon Graphite is uniquely positioned to take advantage of the global momentum in battery technology because of its high purity vein graphite and low carbon footprint that results from minimal processing being required,” said Jacob. “I believe its ESG benefits are second to none in the industry. As an advisor I’ve had multiple discussions with OEMs and battery technology companies eager to explore Ceylon’s ability to provide a steady supply of battery grade graphite for anodes with minimal environmental impact. I’m confide...