GREY:ABGPF - Post by User
Post by
birdie22on Dec 13, 2017 10:00pm
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Post# 27152948
Here is link to Deal posted on SEDAR
Here is link to Deal posted on SEDARhttps://www.sedar.com/GetFile.do?lang=EN&docClass=8&issuerNo=00025770&issuerType=03&projectNo=02709338&docId=4230563
“The timing of this transaction could not be better,” added Jean Depatie, Chairman of Alabama Graphite. “Alabama Graphite’s Coosa Graphite Project is at the feasibility-study stage and Westwater, having excellent management and financial resourcefulness, has the experience and ability to advance our projects and enhance shareholder value at a pace, and in a manner, we would not have been able to achieve on our own. Furthermore, this transaction provides Alabama Graphite with much needed interim financing that protects our shareholders from equity dilution and going-concern risk.”
As part of the transition period prior to the expected upcoming completion of the Acquisition, Alabama Graphite’s President and CEO, Donald Baxter, has agreed to resign from his officer and director positions with Alabama Graphite with immediate effect. Alabama Graphite’s Board of Directors appreciates Mr. Baxter’s efforts and contributions. Dr. Gareth Hatch, a Director of Alabama Graphite, has been appointed as its interim CEO. Executive Vice President and Corporate Secretary Tyler Dinwoodie has been appointed as Alabama Graphite’s President and will assist Dr. Hatch with duties and responsibilities during the transition period. Alabama Graphite’s Audit Committee is now comprised of Jean Depatie, Daniel Goffaux, and Dr. Hatch.