TORONTO, ON / ACCESSWIRE / January 6, 2022 / Li-Metal Corp. (CSE:LIM)(FSE:5ZO) ("Li-Metal" or the "Company"), a leading developer of lithium metal anode and lithium metal technologies critical for next-generation batteries, is pleased to announce that it will hold a special meeting of shareholders (the "Special Meeting") on January 26, 2022 at 11:00 a.m. (Eastern Time). The record date for this Special Meeting is December 20, 2021.
The purpose of the Special Meeting is to ask shareholders to grant Li-Metal's Board of Directors (the "Board") the authority to split the Company's issued and outstanding common shares on a 4-for-1 basis to allow for a more accessible trading range for investors, to enhance liquidity and to increase investor interest in Li-Metal and its business. This share split does not affect the market value of Li-Metal's shares or a shareholder's proportionate ownership stake in the Company. Any authority proposed to be granted to the Board to split the shares is conditional upon the prior approval of the Canadian Securities Exchange.
Board size is the second matter to be considered by the Board at the Special Meeting. Shareholders will be asked to consider passing a resolution authorizing the board to determine the number of directors on the Board from time to time within the minimum and maximum number set in the articles of the Corporation.
In addition to this, the Special Meeting will consider increasing the number of directors to six and electing Colin Farrell to the Board. Mr. Farrell sits on the Company's advisory board and holds over 40 years of wide professional experience, including commercial, technical and policy, leadership experience. Mr. Farrell has successfully started up and led several tax and non-tax teams in various groups at PwC. Until his retirement from PwC in 2018, Mr. Farrell was a member of PwC's Hong Kong and China disruption and investment group, PwC's Tax Policy Panel, PwC's China/Hong Kong advisory committee on insurance and human resources matters, PwC Hong Kong's Foundation and PwC Hong Kong/China's Corporate Responsibility committee, and on a major multinational corporation's global tax advisory council. He was also a member of PwC China/Hong Kong's Future of Tax committee.
In addition, he has leadership and start-up involvement in Hong Kong and China human resources, corporate recovery, and cross-discipline teams. Mr. Farrell has a broad range of client experience in tax and non-tax consulting and execution matters such as market entry, e-commerce strategy, human resources, board information needs and property disposals. Other work experience includes secondments to government and industry, deal experience, and leading system design and implementation projects cross-territory and other major change management leadership.
The full details of the special business mentioned above have been outlined in the Company's management information circular and has been posted under the Company's profile on SEDAR, along with Li-Metal's notice of Special Meeting and form of proxy.
On behalf of the Board
Maciej Jastrzebski
Co-Founder and Chief Executive Officer
Li-Metal Corp.
About Li-Metal Corp.
Li-Metal is a Canadian-based company developing lithium metal anodes and lithium metal production technologies for use in next generation batteries. Our production methods are significantly more sustainable than existing products and offer lighter, more energy dense and safer batteries that are critical to tomorrow's electric vehicles. For more information visit, www.li-metal.com.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements about, among other things, the Company's strategic plans are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the development of the business of the Company will be completed as described above. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.
Investor Contact
For more information on Li-Metal or to be added to the Company's email distribution list, please contact:
Salisha Ilyas
ir@li-metal.com
647-795-1653
SOURCE: Li-Metal Corp.
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