CDN Maverick Capital fires CEO Cegielski
2024-01-19 13:40 ET - News Release
Mr. Sandy MacDougall reports
CDN MAVERICK ANNOUNCES EXECUTIVE LEADERSHIP CHANGE
CDN Maverick Capital Corp. has provided an update on a strategic shift in its executive leadership. Adam Cegielski has been terminated as chief executive officer, effective immediately, and Simon D. Studer, currently serving as president, chief operating officer and director of CDN Maverick, has been appointed as interim chief executive officer.
This leadership transition responds to concurrent corporate and market transformations. In particular, a phase of historically lower trading volumes in the natural resource sector, concurrent with adjustments in lithium and other critical mineral and metal markets and prices globally.
Mr. Studer remarked: "Our primary objective remains steadfast: to not just acquire any asset, but to strategically pursue those with distinct potential to add sustainable value to our company, even in adverse market conditions. The current market environment presents unique opportunities for strategic acquisitions and diversifying our approaches within CDN Maverick's generative and investment businesses. Under my leadership, CDN Maverick will navigate these complexities with a long-term perspective and remains committed to its strategy of being commodity agnostic and asset independent, seeking synergies that create enduring value for our shareholders. At this point, we thank Adam for his service as chief executive officer and wish him the best in his future endeavours."
About CDN Maverick Capital Corp.
CDN Maverick Capital is a diversified exploration company, with a core focus on critical minerals in North America and South America.
Electric Avenue, Ontario -- Northwind Lake lithium property:
- 7,040 hectares in the Electric Avenue, an emerging lithium pegmatite exploration camp in the Red Lake area of Ontario, near to Frontier Lithium's Pak lithium project.
James Bay, Quebec -- Poncheville lithium project:
- Lithium pegmatite prospect spanning nearly 40,000 hectares across the Poncheville and Chabinoche properties.
Rainbow Canyon, Nevada:
- The Rainbow Canyon gold project in Nevada.
Investments:
- Holds 408,291 shares of NOAL Lithium Brines Inc., a lithium company actively working in the Lithium Triangle and drilling its maiden resource in the area;
- Holds over 1.6 million shares in Noram Lithium Corp., a lithium clay sands exploration and development issuer located in Clayton Valley, Nevada, with a significant lithium resource known as the Zeus project; Noram is working toward a prefeasibility study.
As part of its continuing efforts, CDN Maverick is actively expanding its critical minerals portfolio across the Americas, with a firm commitment to sustainable and ESG-friendly (environmental, social and governance) investing and exploration.
We seek Safe Harbor.
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