Avalon appoints two new board directors to help accelerate its critical minerals strategy.
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”) 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.
Alan Ferry, Lead Director, Avalon said:
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.
“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, 2023 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 Group since 2008, being in charge of global M&A, insurance and risk management and was recently appointed as Sibelco’s Vice President for North America.
Scott Monteith, Chief Executive Officer, Avalon said:
These appointments complement other recent changes to the management team and Board, that have provided the necessary expertise to execute on our ‘Avalon 2.0’ initiatives.
“We are very focused on operationalizing our assets and maximizing Avalon’s market potential as the need for lithium and our other critical minerals continues to grow exponentially.”
Marilyn Spink, a Director since June 2020, has retired from the Board. The Company would like to sincerely thank Ms. Spink for her strong service to the Company.
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Avalon appoints two new board directors to help accelerate its critical minerals strategy, Toronto, September 11, 2023
