Transition Metals Further Strengthens Board, Appointing Ashley Kirwan as Director
Sudbury, May 18, 2024 - Transition Metals Corp. (TSXV: XTM) ("Transition", "the Company") today announced the appointment of Ashley Kirwan, P.Geo., ICD.D, to the Transition Board of Directors, effective April 29, 2024. Following the appointment of Ms. Kirwan, the Board will be comprised of six directors, five of whom are independent.
"We are pleased to welcome Ashley to the Transition Board," said Scott McLean, Chairman and Chief Executive Officer of the Company. "Ashley is a highly successful businessperson in our sector and has been recognized by her peers with numerous awards. Her technical expertise, strong network and astute business savvy will help develop our business and pursue growth for our shareholders."
Ashley Kirwan is a professional geologist with over 15 years of experience in the mining industry. She is the co-founder, President & CEO of Orix Geoscience, an award-winning geological consulting firm recognized for its technical excellence. Ms. Kirwan also serves as a director of EGR Exploration (EGR.V), Newbreak Resources (NBRK.CSE), Qualitica Consulting (a privately held, QA/QC company), and Orix Geoscience, as well as numerous community committees, bringing her technical, strategic planning, and governance expertise to these groups. Ashley was selected as a Top 40 Under 40 by the Sudbury Chamber of Commerce (2019), awarded the YWCA Women of Distinction Award (2020) and The Eira Thomas Young Mining Professional award (2020). She earned a B.Sc. and M.Sc. in Geology at Laurentian University, and is also a member of the Institute of Corporate Directors holding her ICD designation.
Issuance of Stock Options, DSU's and RSU's
The Company also reports that it has issued 2,090,000 stock options, 350,000 Restricted Share Units (RSU), and 1,700,000 Deferred Share Units (DSU) to certain directors, officers, and employees of the Company in accordance with the Company's approved Omnibus Equity Incentive Compensation Plan, approved at the Company's annual general meeting of the shareholders held on February 21, 2024. The options can be converted to common stock at an exercise price of $0.06 per share for a 5-year period. RSUs vest within 3 years, and DSUs vest upon the loss of office for the holder.
About Transition Metals Corp.
Transition Metals Corp. (TSXV: XTM) is a Canadian-based, multi-commodity explorer. Its award-winning team of geoscientists has extensive exploration experience and actively develops and tests new ideas for discovering mineralization in places that others have not looked, often allowing the company to acquire properties inexpensively. Joint venture partners earn an interest in the projects by funding a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholders' equity dilution.
Further information is available at www.transitionmetalscorp.com or by contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-1777
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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