The Energy Graphite™ Company
Sourced and Manufactured in the United States of America
TORONTO, Jan. 30, 2018 (GLOBE NEWSWIRE) -- Alabama Graphite Corp. (“Alabama Graphite” or the “Corporation”) (TSX-V:CSPG) (OTCQB:CSPGF) (FRANKFURT:1AG) announces January 31, 2018 as the record date of the Corporation for the planned Special Meeting of Alabama Graphite securityholders (the “Special Meeting”) to vote on the proposed Plan of Arrangement transaction with Westwater Resources, Inc. (NASDAQ:WWR) (“Westwater”). The Special Meeting will be held on March 9, 2018.
For more information about Alabama Graphite’s proposed transaction with Westwater, please refer to the Corporation’s December 13, 2017 announcement, entitled, ‘Westwater Resources, Inc. to Acquire Alabama Graphite Corp.’. More information regarding the acquisition will be available in an upcoming Management Information Circular, currently expected to be filed and distributed in early February 2018.
REPORTING OF Q1 2018 FINANCIAL RESULTS
The Corporation has reported its financial results for the first quarter (“Q1”) of fiscal year 2018, ended November 30, 2017. Alabama Graphite’s unaudited, interim, condensed, consolidated financial statements and management discussion and analysis (“MD&A”) for the fiscal quarter ended November 30, 2017 are available on the Canadian Securities Administrators’ (“CSA”) System for Electronic Document Analysis and Retrieval (“SEDAR”) on www.sedar.com or on the Corporation’s website at www.alabamagraphite.com.
APPOINTMENT OF INTERIM CHIEF FINANICAL OFFICER
Alabama Graphite is pleased to announce the appointment of John A. Chapman, P.Eng., CPA, CMA, CMC, MBA, BTech, as Interim Chief Financial Officer. Mr. Chapman has been providing consulting CFO services to both public and private companies for more than a decade. He has assisted companies with financing, public listing, interface with external organizations, shareholders and boards, as well as establishing processes, procedures and internal controls, while providing ongoing oversight. Prior to providing consulting CFO services, Mr. Chapman held senior finance positions at Bell Canada and Bell Canada Enterprises Inc. (“BCE”) companies. Since, 2007, Mr. Chapman has served as Chief Financial Officer for ZIM Corporation.
Mr. Chapman holds a Bachelor of Technology (Mechanical Engineering) degree from Ryerson University and an MBA degree from the University of Ottawa. Mr. Chapman is a Professional Engineer, Certified Management Consultant and a Chartered Professional Accountant, and is an active member of the Professional Engineers of Ontario (“PEO”), the Canadian Association of Management Consultants (“CMC – Canada”) and the Chartered Accountants Institute of Ontario (“CPA Ontario”).
Alabama Graphite President Tyler Dinwoodie commented, “Mr. Chapman is an experienced, highly qualified financial professional and we welcome his expertise as we continue to advance Alabama Graphite during the proposed acquisition transaction with Westwater Resources. Alabama Graphite Management and the Board of Directors look forward to working with Mr. Chapman during this critical transition period.”
Alabama Graphite also announces the Corporation’s termination of its contract with former Chief Financial Officer, Doug Bolton, and wishes Mr. Bolton well in his future endeavors.
On behalf of the Board of Directors of
ALABAMA GRAPHITE CORP.
Gareth P. Hatch, PhD, CEng, FIMMM, FIET
Chief Executive Officer and Executive Director
ABOUT ALABAMA GRAPHITE CORP.
Alabama Graphite is a Canadian-based flake graphite exploration and development company as well as an aspiring battery materials production and technology company. Alabama Graphite operates through its wholly owned subsidiary, Alabama Graphite Company, Inc. (a company registered in the state of Alabama).
For more information on Alabama Graphite, please visit www.alabamagraphite.com.
This press release contains forward-looking information under applicable Canadian securities laws (“forward-looking statements”), which may include, without limitation, statements with respect to the mailing and filing of the management information circular related to the Special Meeting and the timing thereof and timing of the Special Meeting. The forward-looking statements are based on the beliefs of management and reflect Alabama Graphite’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may”, “will” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current view of Alabama Graphite. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and Alabama Graphite undertakes no obligation to update forward-looking statements (unless required by law) if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Alabama Graphite Corp.
Tyler W. P. Dinwoodie
+1 (416) 309-8641
Source:Alabama Graphite Corp.