TORONTO, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Innovation Metals Corp. (“IMC” or the “Company”) announces that the Company’s senior executive-management team, including, IMC Co-founder, Chairman and Chief Executive Officer, Dr. Gareth Hatch; President and Executive Director, Tyler Dinwoodie; Chief Operating Officer and Vice President, Metallurgy, Dr. Kurt Forrester; and, Senior Consulting Metallurgist, David Johnson, formally submitted resignation notices to IMC on February 14, 2022.
Dr. Hatch and Mr. Dinwoodie are both Officers and Executive Directors of IMC. Dr. Forrester serves as an Officer of IMC. The resignations were the result of ongoing operational challenges that involved IMC’s parent corporation, Ucore Rare Metals Inc. (“Ucore”). Ucore’s CEO and IMC board member Pat Ryan remains with IMC.
Per the voluntary resignation terms of their respective consulting and employment agreements, Dr. Hatch and Mr. Dinwoodie will continue in their respective roles with IMC until November 14, 2022. Dr. Forrester will continue in his role with IMC until May 14, 2022. Mr. Johnson’s resignation is with immediate effect. Once suitable replacements are identified and secured, Drs. Hatch and Forrester, and Mr. Dinwoodie look forward to supporting a smooth, fulsome transition.
About Innovation Metals Corp.
IMC has developed the proprietary RapidSX™ process, for the low-cost separation and purification of rare-earth elements, Ni, Co, Li and other technology metals, via an accelerated form of solvent extraction. IMC is commercializing this approach for a number of metals, to help enable mining and metal-recycling companies to compete in today's global marketplace.
For more information, please visit www.innovationmetals.com.
About the RapidSX™ Technology
IMC developed the RapidSX separation technology with early-stage assistance from the United States Department of Defense (“US DoD”), later resulting in the production of commercial grade, separated rare-earth oxides (“REOs”) at the pilot scale. RapidSX combines the time-proven chemistry of conventional solvent extraction (“SX”) with a new column-based platform, which significantly reduces time to completion and plant footprint, as well as potentially lowering capital and operating costs. SX is the international rare-earth element (“REE”) industry's standard commercial separation technology and is currently used by 100% of all REE producers worldwide for bulk commercial separation of both heavy and light REEs. Utilizing similar chemistry to conventional SX, RapidSX is not a “new” technology, but represents a significant improvement on the well-established, well-understood, proven conventional SX separation technology preferred by REE producers.
Forward-Looking Statements
This news release contains projections and statements that may constitute “forward-looking statements” within the meaning of applicable Canadian, United States and other laws. Forward-looking statements in this release may include, among others, statements regarding the future plans, costs, objectives or performance of Innovation Metals Corp. (“IMC”), or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “could”, “would”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “goal”, “estimate”, and similar words and the negative forms thereof are used to identify forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that are beyond IMC’s control, and which may cause the actual results, level of activity, performance or achievements of IMC to be materially different from those expressed or implied by such forward-looking statements. Such risks and uncertainties could cause actual results and IMC’s plans and objectives to differ materially from those expressed in the forward-looking information. IMC can offer no assurance that its plans will be completed. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the date and/or dates made and are expressly qualified in their entirety by this notice. Except as required by law, IMC assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.
Contact
Tyler Dinwoodie
President and Executive Director
Innovation Metals Corp.
+1 416 218 2006
info@innovationmetals.com
www.innovationmetals.com
