Pure Energy Minerals Announces AGM Voting Results and the Election of Two New Directors to the Board

Posted on by PEM

June 11, 2024 — Pure Energy Minerals Ltd. (TSXV: PE; OTCQB: PEMIF) (“Pure Energy” or “the Company”) announces the voting results from its Annual General Meeting of Shareholders (the “Meeting“), held on June 5, 2024.

Shareholders voted in favour of all items of business put forth at the meeting. Each of the resolutions are explained in detail in the Management Information Circular dated May 6, 2024.  It is available for reference under the Company’s profile on Sedar+ at www.sedarplus.ca.

A total of 6,424,974 common shares, representing approximately 19% of the Company’s outstanding common shares, were voted in person and by proxy at the Meeting.

Shareholders voted in favour of:

  • Re-appointing Baker Tilly WM LLP as auditors of the Company
  • Setting the number of directors at six, with the following nominees elected as directors:
    • Joseph Mullin
    • Mary Little
    • Patrick Galletti
    • Yuankai Mao
    • Daniel Barnosky
    • Marceau Schlumberger
  • Re-approving Company’s Stock Option Plan

‍The elected directors will hold office until the close of the next Annual General Meeting of the Company or until their successors are appointed. As disclosed, Mr. Nathaniel Hartwig and Mr. Michael Dake did not stand for re-election to the Board.  On behalf of the Board of Directors, Joseph Mullin thanks Mr. Hartwig and Mr. Dake for their important service to the Company and wishes them well in their endeavours.

Mr. Mullin also welcomes Mr. Barnosky and Mr. Schlumberger to the Board. He says: “We are very pleased that Messrs. Barnosky and Schlumberger have joined the Pure Energy Board.  Each brings strong financial and market expertise in the energy and battery metals areas which will strengthen Pure Energy.  The Company looks forward to working with them as the Company enters a new stage of growth.”

Mr. Barnosky has over 25 years’ experience in global energy, power and decarbonization markets, as a private equity investor, board member and investment banker.  He is the founder and managing director of Quintessa Consultancy Ltd. (2020-present), an investment and advisory platform focused on decarbonization and energy transition.  Previously, he was partner at Magnesium Capital LLP (2014-2020), a European energy-focused private equity firm, and a managing director at major investment banks where he advised on over $100 billion of energy M&A and financings (1997-2014).  Mr. Barnosky is currently based in London. Mr. Schlumberger is the founder and managing director of Coral Reef Capital LLC (2008-present), a private investment firm focused on oil and gas, and the U.S. exploration and mining industry.  He serves as a director of Western Exploration Inc. as well as several private natural resource companies. Mr. Schlumberger holds an MBA from the Wharton School.

About Pure Energy

Pure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry.  Pure Energy has consolidated a pre-eminent land position at its Clayton Valley Project in the Clayton Valley of central Nevada for the exploration and development of lithium resources, comprising 950 claims over 23,360 acres (9,450 hectares), representing the largest mineral land holdings in the valley.   Pure Energy’s Clayton Valley Project adjoins and surrounds on three sides the Silver Peak lithium brine mine operated by Albemarle Corporation.

Pure Energy’s strategic partner, Schlumberger Technologies Corp. (“SLB”), is the operator of the Clayton Valley Project. In May of 2019, Pure Energy and SLB signed an Earn-In agreement over the CV Project which requires significant investment by SLB at the Project, to include the design and construction of a pilot plant capable of processing lithium-bearing brines for high-quality lithium hydroxide monohydrate (“lithium hydroxide” or “LiOH∙H2O”) and/or lithium carbonate products at a specified rate. SLB plans to utilize both in-house and commercially available technology in the design of the CV pilot plant. SLB’s costs, technical parameters and ultimate technology are anticipated to differ from the published PEA. For further details regarding SLB’s participation, please refer to Pure Energy’s Annual General and Special Meeting Management Information Circular dated April 4, 2019, available on www.sedarplus.ca.

On behalf of the Board of Directors,

“Joseph Mullin”
CEO, Pure Energy Minerals Ltd.

CONTACT:

Pure Energy Minerals Limited (www.pureenergyminerals.com)
Email: info@pureenergyminerals.com
Telephone – 604 608 6611

Cautionary Statements and Forward-Looking Information

The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release may include future exploration and development on the Clayton Valley Project.  Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

The Company does not undertake to update any forward-looking information, except as required by applicable laws.

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