Piedmont Strengthens US-Based Board
July 31 2018 - 9:22PM
Piedmont Lithium Limited (“Piedmont” or “Company”)
is pleased to announce the appointment of Jeff Armstrong to the
Board of Directors as an Independent Non-Executive Director,
effective from today. Following Mr. Armstrong’s appointment, Mark
Pearce will step down from his Non-Executive Director position,
also effective today.
Mr. Armstrong resides in Charlotte, North
Carolina where he is actively engaged in the community and has
extensive relationships with major corporations and entrepreneurs
alike. He serves as CEO and Managing Partner of North Inlet
Advisors, LLC, a firm providing strategic and financial advice to
companies on capital formation, mergers, acquisitions,
divestitures, restructurings, and other corporate
transactions.
Mr. Armstrong was previously a senior leader in
what is now Wells Fargo’s Investment Bank for nearly a decade,
where his leadership roles included the Head of Corporate Finance,
Mergers and Acquisitions, Private Equity Coverage and Leveraged
Capital groups. Mr. Armstrong also worked as an investment banker
for Citigroup from 1994 to 1999, and for Morgan Stanley from 1987
to 1994.
Mr. Armstrong graduated from the University of
Virginia with a B.S. in finance and marketing from the McIntire
School of Commerce and an MBA from the Darden School of
Business.
Keith D. Phillips, President and Chief Executive
Officer, said: “Jeff is an outstanding addition to our Board and
will add valuable experience and extend our relationships in North
Carolina. We are pleased to have another U.S.-based independent
director, and I look forward to working closely with him. In
addition, on behalf of the Board, I would like to thank Mark for
his substantial contribution in progressing Piedmont into a
dual-listed U.S. lithium development company with plans to provide
a new U.S. domestic source of lithium to supply the increasing
electric vehicle and battery storage markets.”
For further information, contact:
|
|
|
Keith D.
Phillips |
|
Anastasios
(Taso) Arima |
President &
CEO |
|
Executive Director |
T: +1 973 809 0505 |
|
T: +1 347 899 1522 |
E:
kphillips@piedmontlithium.com |
|
E:
tarima@piedmontlithium.com |
|
|
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About Piedmont Lithium
Piedmont Lithium Limited (ASX: PLL; OTC-Nasdaq Intl: PLLLY)
holds a 100% interest in the Piedmont Lithium Project (“Project”)
located within the world-class Carolina Tin-Spodumene Belt (“TSB”)
and along trend to the Hallman Beam and Kings Mountain mines,
historically providing most of the western world’s lithium between
the 1950s and the 1990s. The TSB has been described as one of the
largest lithium provinces in the world and is located approximately
25 miles west of Charlotte, North Carolina. It is a premier
location to be developing and integrated lithium business based on
its favourable geology, proven metallurgy and easy access to
infrastructure, power, R&D centres for lithium and battery
storage, major high-tech population centres and downstream lithium
processing facilities.
The Project was originally explored by Lithium Corporation of
America which eventually was acquired by FMC Corporation (“FMC”).
FMC and Albemarle Corporation (“Albemarle”) both historically mined
the lithium bearing spodumene pegmatites within the TSB and
developed and continue to operate the two world-class lithium
processing facilities in the region which were the first modern
spodumene processing facilities in the western world. The Company
is in a unique position to leverage its position as a first mover
in restarting exploration in this historic lithium producing region
with the aim of developing a strategic, U.S. domestic source of
lithium to supply the increasing electric vehicle and battery
storage markets.
Piedmont, through its 100% owned U.S. subsidiary, Piedmont
Lithium Inc., has entered into exclusive option agreements and land
acquisition agreements with local landowners, which upon exercise,
allow the Company to purchase (or in some cases long-term lease)
approximately 1,199 acres of surface property and the associated
mineral rights.
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