Business
Lodestar Battery Metals Releases H1 2023 Letter to Shareholders
Proposes Consolidation of Common Shares Vancouver, British Columbia--(Newsfile Corp. - July 14...
About this update from Lodestar Metals Corp.
[{"type":"text","content":"Lodestar Battery Metals Releases H1 2023 Letter to ShareholdersProposes Consolidation of Common SharesVancouver, British Columbia--(Newsfile Corp. - July 14, 2023) - Lodestar Battery Metals (TSXV: LSTR) (OTCQB: SVTNF) (\"Lodestar\" or the \"Company\") is pleased to announce the release of its corporate update to shareholders for the six months ended June 30, 2023 (\"H1 2023\") and review of the restructuring from Lowell Kamin, President, CEO, and Chairman of the Board.Lodestar will host its Annual General Meeting today, July 14, 2023, at 11 AM PT. Shareholders and the general public are welcome to dial in with the following details: Toll Free Canada +1 (844) 511 2074Vancouver, BC +1 (778) 200 4975Participant access: 942 544 407Dear Shareholders, When I was appointed President and CEO last June, I made a significant and deliberate decision to restructure and rebrand the Company to align our corporate identity with our collective vision for the future with my personal beliefs about how junior resource companies should be managed. Highlights of the restructuring and our key achievements over the last 12 months include: Strategic Review, Risk Management and Governance Overhaul At the outset, we undertook a comprehensive review of our assets in Mexico and all commercial arrangements the Company had entered into. We cancelled all engagements and methodically managed the risk associated with that decision. All remaining officers and directors associated with Silver One Resources Inc. stepped aside and Scott Margach and Gary Prihar were added as Independent Directors. From day one, we substantially reduced the burn rate and identified the structural risks of the Company. Leadership Transition, Compliance Strengthening and Asset Management in Mexico OperationsFollowing the resignation of our former CFO, Killian Ruby, who stepped down after the former CEO and board members resigned, we appointed an Interim CFO to fill the position. One notable achievement in the second half of 2022, from both a C-suite and Board perspective, was the successful rehiring of Killian Ruby as CFO, who also became a member of the Board. Killian demonstrated exceptional competence by assuming responsibility for all commercial arrangements in Mexico, ensuring the proper documentation and up-to-date status. Killian played a crucial role in solidifyi...