Western Magnesium Announces Changes to its Board
NEW YORK, NY – TheNewswire – March 10th, 2020 – Western Magnesium Corporation (TSXV: WMG; Frankfurt-M1V; OTCQB: MLYF) (“Western Magnesium” or the “Company”) announces changes to the Company’s Board of Directors (“Board”). At this time, we are very pleased to welcome Mr. Rabih Ataya to the Board. As the newest member, Mr. Ataya embodies the spirit, passion and vision of the Company while bringing his wealth of business knowhow, technical expertise, and international experience that will be invaluable.
As an innovative and highly respected international leader, Mr. Ataya brings over 30 years of operational optimization experience that comes with highly prized skill and knowhow in the automotive industry. As a subject matter expert in that industry, he led transformational strategies into tactical initiatives that drove bottom line results, consistently exceeding required deliverables and milestones. The results obtained were driven by his core competencies that include transition & change management; organic growth development; business process re-engineering, supply chain management; core process development; budget planning engagement, and P&L optimization.
Mr. Ataya’s extensive experience in the automotive industry includes the North American, European, and Middle Eastern markets. This has afforded him opportunities to understand the industry throughout the supply chain process – by understanding the materials market, dealing with the full range of OEMs and finally expanding dealership business for all the high-end automobile makers. His last set of experiences led him to be recognized and awarded for his ability to execute highly challenging turn-around strategies; implement effective reengineer process and procedures; construct highly effective mechanical design teams; and lastly optimize R&D cast iron foundry and metal production systems/teams. During this timeframe, he has developed, nurtured and maintained strong relationships in the global auto industry.
Mr. Ataya received his EMBA from the prestigious HEC Paris, one of the most recognized universities in the world with one of the top three global MBA programs, and an Innovative Management and Entrepreneurial Leadership Certification from Babson College. Mr. Ataya possesses a Bachelor of Engineering in Mechanical Engineering.
The company also wishes to inform shareholders that Mr. Frank Halliday has informed the Board of his decision to focus on specific interests resulting in his decision to step down. Thus, the Board would like to extend its appreciation to Mr. Halliday for his invaluable contribution and dedication to the success of the company.
About Western Magnesium
Western Magnesium’s goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and lightweight qualities. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces manufacturing and energy costs relative to current methods and processes, while being environmentally friendly.
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company’s dolomite reserves may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able hire and retain skilled employees. The Company undertakes no obligation to update forward‐looking information except as required by law. The reader is cautioned not to place undue reliance on forward‐looking statements. These forward-looking statements are made as of the date of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements. We see Safe Harbor.
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