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Western Magnesium Appoints Interim CFO

Written by Customer Service on . Posted in Public Companies.

WASHINGTON, Sept. 12, 2022 (GLOBE NEWSWIRE) — Western Magnesium Corporation (WMC) (TSXV: WMG.V; Frankfurt-3WM; OTCQB: MLYF) (“Western Magnesium” or the “Company”) announces the appointment of long-time Board member Steve Thorlakson as Interim CFO, effective immediately.

Mr. Thorlakson brings extensive financial and business management expertise, having worked more than three decades within the financial services and construction industry, and has proven success in the construction project management and logistics sectors. He has been a trusted member of the Company’s Board of Directors for nearly a decade.

Mr. Thorlakson skillfully executed financial responsibilities for Western Magnesium as interim CFO between 2016-2017. Mr. Thorlakson replaces Mr. Ramsey Hamady.

The Company will launch a formal search process to identify a permanent replacement in the coming months.

About Western Magnesium

Western Magnesium’s goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs relative to current methods and processes, while being environmentally friendly.

Media Relations & Corporate Communications

Ashleigh Barry | abarry@westmagcorp.com | (202) 258-4453

Investor Relations

John Ulmer | julmer@westmagcorp.com | (604) 423-2709

Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to several factors, including the Company’s dolomite reserves may not be mined because of technical, regulatory, financing, or other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able to hire and retain skilled employees. The Company undertakes no obligation to update forward-looking information except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this news release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

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