TORONTO, March 14, 2018 (GLOBE NEWSWIRE) -- Crystal Peak Minerals Inc. (“Crystal Peak” or the “Company”) (TSXV:CPM) (OTCQX:CPMMF) is pleased to announce the appointment to its Board of Directors (“Board”) of John Mansanti, the Company’s chief executive officer, and Roderick “Rod” Lyle following the resignations of Aaron Hood, Theodore Botts, Thomas Pladsen, and John Mulhall.
“We are excited to welcome Rod Lyle and John Mansanti to the board. Having the CEO join is, of course, customary. And Rod Lyle, a prominent attorney in Australia, brings a wealth of legal and financing experience,” said Herbert Scruggs, chairman of Crystal Peak. “I would also like to thank Ted Botts, Tom Pladsen, John Mulhall, and Aaron Hood for their service. In addition to his full-time work with Atacama, Tom acted as CFO for Crystal Peak so it’s kind of him to step aside for John. Ted Botts has been here from the beginning, is an early investor, and has provided great service and advice. Aaron Hood and John Mulhall also made lasting contributions to our project. I wish them all the best in their pursuits.”
“I am excited to be joining Crystal Peak,” added Rod Lyle. “I believe this is an incredible opportunity. Now that the team has published the feasibility study, it’s time to move this project past engineering and into the financing and construction phase.”
Mr. Lyle is recognized as one of Australia’s leading commercial lawyers. For more than three decades, he has provided strategic and tactical advice for management teams. Mr. Lyle is highly regarded and brings to the Board deep knowledge of mergers and acquisitions along with extensive experience with corporate governance.
Mr. Lyle has been a key adviser in a number of transactions. He led the team that advised Yara International on the landmark Pilbara deal; and, the Clayton Utz team advising EMR Capital, Farallon Capital, and partners on its US$775 million acquisition of a 95% stake in Indonesia's Martabe Mine. The transaction with HK-listed G-Resources Group Limited represents one of the largest leveraged buy-outs of a gold-producing asset globally.
Mr. Lyle holds Bachelor of Laws and Bachelor of Commerce degrees from the University of Melbourne, a Master of Laws from the University of London, and a Masters of Business Administration Degree (with Distinction for Excellence) from Melbourne Business School.
John Mansanti is a highly experienced mining executive with more than 35 years of experience leading teams in the successful development, construction, and operation of mining projects. Recognized multiple times for his leadership and technical skills, Mr. Mansanti has spent most of his career in precious metals and potash. In addition to smaller companies, he has worked for Intrepid Potash, Barrick Gold, Placer Dome, Newmont Mining, and Freeport McMoRan. Mr. Mansanti also serves on the board of Rye Patch Gold.
About Crystal Peak Minerals Inc.
Crystal Peak is focused on the production of premium specialty fertilizers. The Company controls, directly or through agreement, mineral leases on more than 124,000 acres on its Sevier Playa property in Millard County, Utah. With a brine mineral resource known to contain potassium, magnesium, sulfate, bromine, and other beneficial minerals, Crystal Peak is targeting the production of specialty fertilizers and associated products through the use of brine extraction and a cost-effective solar evaporation process. SOP and other specialty fertilizers are used in the production of high value, chloride-sensitive crops such as fruits, vegetables, and tree nuts.
For further information, please contact:
Woods Silleroy
Corporate Secretary
(801) 485-0223
woods@crystalpeakminerals.com
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Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the targeting of the development and production of specialty fertilizers and associated minerals, including SOP, lithium, and magnesium compounds through the use of a cost-effective solar evaporation process; and Crystal Peak’s future business. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "is expected", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "believes", or variations of such words and phrases; or terms that state that certain actions, events, or results "may", "could", "would", "might", or "will be taken", “could occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on, a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Crystal Peak to be materially different from those expressed or implied by such forward-looking information. Although Crystal Peak has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Crystal Peak does not undertake to update any forward-looking information, except in accordance with applicable securities laws.