- FAR Resources (FAT) received 96-per-cent shareholder support in a landslide election of a new Board of Directors
- The new board has since appointed Scott Taylor to the roles of President and CEO
- The company will be pivoting toward a focus on lithium production to capitalize on the market’s favorable dynamics
- FAR Resources is an energy tech company committed to producing domestic battery-grade lithium hydroxide for the electric vehicle market
- FAR Resources (FAT) is up by 1.85 per cent and is currently trading at $0.275 per share
FAR Resources (FAT) received 96-per-cent shareholder support in a landslide election of a new Board of Directors.
The alternate slate of directors, put forward by a group of concerned shareholders, includes Scott Taylor, Pierre-Yves Tenn and Andrew Lyons. The new board has since appointed Taylor to the roles of President and CEO.
“As a shareholder, I was totally frustrated with the previous Board’s complete lack of progress,” Taylor stated. “I am confident in the new Board and in the plans that Pierre, Andrew and myself had laid out for the company in our proxy materials. It is now abundantly clear that the positive, value-focused message resonated with the majority of shareholders. I’m extremely pleased to see the high voter turnout and the overwhelming shareholder support afforded the new Board and our plans for FAR.
I’m also pleased to announce that we’ve filed for a name change for FAR and lithium will be reflected in the company’s new name to reinforce our commitment to be a leading domestic supplier of this critical battery metal. We will be re-branding and taking advantage of the hyper-demand in the EV market and intend to become a growing key player within the North American strategic battery metals market.
The company is hyper-focused in continued exploration and growth on its three lithium properties, Zoro and Jean Lake located in Snow Lake, Manitoba, and Hidden Lakes in the Northwest Territories.”
This week, Taylor plans to meet with FAR geologists Mark Fedikow and Lindsay Bottomer to determine a specific execution strategy for Q1 of 2022. He anticipates engaging with neighbouring Snow Lake Resources to find mutually beneficial synergies.
FAR Resources is an energy tech company committed to producing domestic battery-grade lithium hydroxide for the electric vehicle market.
FAR Resources (FAT) is up by 1.85 per cent and is currently trading at $0.275 per share as of 10:16 am EST.
