DNI Metals Inc. Appoints Lithium Ion Battery and Fuel Cell Experts to the Board of Directors
TORONTO, ON / ACCESSWIRE / May 25, 2016 / DNI Metals Inc. (DNI: CSE) (FSE: DG7N) ("DNI" or the "Company") As part of the transformation that DNI Metals has achieved over the past 18 months, DNI is adding Lithium Ion Battery and Fuel Cell expertise to the board of Directors. This will help position DNI to take full advantage of the "clean technology revolution".
DNI views the "clean technology revolution" as:
| - Electricity storage | - Batteries for residential, commercial and industrial use |
| - Electric vehicles | |
| - Connection to new solar and wind technologies | |
| - Lithium Ion Batteries can be up to 60% Graphite | |
| - Alkaline batteries also contain graphite. | |
| - Electricity production | - Fuel cells, burn hydrogen, and exhaust water |
| - Fuel cells can be up to 70% Graphite | |
| - Electric Motors | - permanent and electro magnets motors |
| - permanent magnets are manufactured from Rare Earths | |
| - DNI Graphite Wholesale, delivering Graphite from Brazil | ||
| 1. | Brazil is the second largest flake Graphite producer in the world | |
| 2. | Brazil has low cost Saprolite (weathered rock) deposits | |
| - Developing Graphite project in Madagascar, called the Vohitsara Deposit. | |||
| 1. | Fully permitted to production | ||
| 2. | As per press release dated Oct. 7, 2015, the trenching samples were 67.4% Jumbo/Large (+70/+210 micron) Flake, Including 25.3% Jumbo (+30 mesh/595 microns), and 29.5% Jumbo (+50 mesh/297 micron) Flake at DNI Metal's Madagascar Graphite Property. Strong graphitic carbon head-grade results (3% to 13.14% Cgr) | ||
| 3. | Madagascar | - same low-cost Saprolitic deposits as Brazil. | |
| - known for its Large Flake Graphite Deposits | |||
| 4. | Infrastructure | - 50 kms from the country's main port | |
| - deposit is one mile from the country's main paved highway | |||
| - Alberta Polymetallic, Black Shales Deposit, known as the Buckton Deposit | ||
| 1. | NI 43-101 mineral resource estimate for the Buckton Deposit announced on August 27, 2013, available on Sedar. | |
| 2. | NI 43-101 Preliminary Economic Assessment Technical Report ("PEA") announced December 5, 2013, also available on Sedar. | |
| 3. | The PEA demonstrated that the Buckton Deposit has the potential to be a significant supplier of uranium and rare earth elements. The mining design is a low strip ratio, high tonnage co-production of Ni-U-Zn-Cu-Co-REE-Y from the Labiche and Second White Speckled formations. See Note below. | |
| - Completing purchase of lab/high-tech center | ||
| 1. | Cash-flowing business | |
| 2. | Permitted for graphite purification | |
| 3. | A new Rare Earth refining process is being developed by Innovation Metals at the Lab. | |
| 4. | The 37,000 sq. ft. lab building allows room for developing clean technologies including, water, electrical storage, fuel cells and mining technologies | |
| - Expertise | ||
| 1. | Engineering - Advisor has built 200 processing plants around the world, including 3 graphite processing plants. | |
| 2. | Resource Definition- Director and advisors have drilling and completed graphite resources. | |
| 3. | Financial - Directors and the CFO are on multiple boards and have been CFO's of other companies. Board has raised millions of dollars for multiple public companies. | |
| 4. | Acquisition of the Lab/clean tech center adds eighteen, highly skilled professionals and scientists. | |
New Directors
To support its growth strategy, especially as it relates to graphite sales to the Lithium Ion and Fuel Cell battery markets, DNI is pleased to announce the following appointments to its Board of Directors:
Paul L. Hart, MBA, CPA, CA
Paul is a seasoned finance and operations executive with experience in the C-Suite, most recently as Chief Financial Officer and Corporate Secretary for Electrovaya Inc., a Lithium Ion Battery manufacturer based in Mississauga, Ontario, Canada. In addition to his experience in clean-technology, he has held senior financial roles with public companies (TSX, NASDAQ) in the software, internet and financial services industries where he has been responsible for strategic planning, corporate governance, finance and operations, mergers and acquisitions and capital markets in North America and Europe. He brings many years of experience in investor relations and debt and equity fund-raising, applying financial and operating experience from large organizations to small and microcap enterprises. He has previously served on other Boards, including Audit and Disclosure Committees and holds a BA (Honours) in Psychology, an M.B.A (Finance), and a Chartered Director designation.
Dr. Ravi B. Gopal
Ravi holds a Bachelor’s degree in Electronics and Controls and a Ph.D. in Physics and Instrumentation. He is a seasoned technology executive with a strong combination of technology and business development skills. Ravi has spent the past 25 years in clean energy technologies such as hydrogen, fuel cells and Lithium Ion batteries. Prior to founding PACEAS (www.paceas.com), a company driven by a vision to help accelerate the shift towards a sustainable environment and clean energy technologies, Ravi was the Vice President of Applications Development at Hydrogenics Corporation. Hydrogenics is a fuel cell manufacturer, based in Canada, where he was responsible for all aspects of building organisational capacity, leading teams of highly qualified technical professionals and developing solid supplier and customer relationships worldwide. He has also been a participant in mergers & acquisition activities, ISO and Business Management Systems Steering Committees, and as a Management Executive Committee member.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Note: The Buckton project is on hold. An updated PEA and Bankable feasibility study needs to be completed, and the markets will not support raising money for this project at this time. No money was spent on these projects in 2015 or 2016, except for storage cost of $520 for the cores.
DNI – Canadian Securities Exchange
DG7N - Frankfurt
Issued: 39,424,204
For further information, contact:
DNI Metals Inc. – Dan Weir, President & CEO 416-595-1195
DanWeir@dnimetals.com
Also visit www.dnimetals.com
We seek Safe Harbour. This announcement includes forward looking statements. While these statements represent DNI’s best current judgment, they are subject to risks and uncertainties that could cause actual results to vary, including risk factors listed in DNI’s Annual Information Form and its MD&As, all of which are available from SEDAR and on its website.
Caution Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the anticipated benefits of the Transaction to the Company and shareholders of the Company; the pro forma shareholdings of the Company’s shareholders in DNI; execution of the Definitive Agreement, the timing and receipt of the required shareholder, stock exchange and regulatory approvals for the Transaction; the anticipated timing for mailing the management information circular to the shareholders of the Company in respect of the Transaction; the closing of the Transaction; the length of the current market cycle and requirements for an issuer to survive in the current market cycle; future growth potential of DNI and its business; and future mine development plans.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: satisfaction or waiver of all applicable conditions to closing of the Transaction (including receipt of all necessary shareholder, stock exchange and regulatory approvals or consents, and the absence of material changes with respect to the parties and their respective businesses); the synergies expected from the Transaction not being realized; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets and the market price of the DNI Shares and the Company Shares; fluctuations in spot and forward prices of graphite or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties. In addition, the failure of a party to comply with the terms of the Definitive Agreement (assuming the Definitive Agreement is entered into) may result in that party being required to pay a non-completion or other fee to the other party, the result of which could have a material adverse effect on the paying party's financial position and results of operations and its ability to fund growth prospects and current operations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
SOURCE: DNI Metals Inc.