Avalon overhauls leadership team to try and compete in lithium market

TORONTO — As part of its strategic transformation to become a North American vertically integrated lithium producer, Avalon Advanced Materials Inc. announces the appointment of three veteran executives to its leadership team, a key milestone as the Company executes on a growth plan.

• Scott Monteith will assume control as interim Chief Executive Officer
• Jim Jaques will serve as the Company’s inaugural Chief Administrative Officer
• Jan Holland will join the Board of Directors

“These appointments, and others to come, underscore the arrival of Avalon 2.0,” Zeeshan Syed, Avalon President, said. “The commitment of our new leadership team is clear: reorient the Company towards full vertical integration of the lithium production cycle, and help establish Ontario, and Canada more broadly, as a strategic fulcrum in North America’s clean energy transition.”

All appointments are effective immediately, as the Company initiates a new growth phase consisting of transformational developments to be announced in the weeks and months ahead.

Avalon also announces that, following a long and successful tenure with the Company, former President and CEO Donald Bubar has decided to step down from the board of directors. Avalon would like to thank him for his years of service.

“We’re assembling a new execution-focused team of deeply experienced professionals aligned around transforming Avalon into a world-class lithium producer, and in turn, helping ensure the path to a clean energy future runs through Canada,” Mr. Monteith said.

Avalon Advanced Materials’ new strategic goals are focused on both organic growth of its lithium portfolio, consisting of a suite of critical-mineral mining projects across Canada, as well as developing new related opportunities. The Company’s mission is to vertically integrate lithium processing within Ontario, positioning the province as an integral part of the North American supply chain for electric vehicle (EV) batteries.

In the weeks ahead, Mr. Monteith and the leadership team expect to implement key steps in their Phase 1 strategy, including:

• Advance production and capitalization for the Separation Rapids project in northwestern Ontario
• Establish a best-in-class lithium-hydroxide facility in Thunder Bay, Ont.
• Identify non-core assets that fall outside the scope of the Company’s focus on the first two business objectives

“I’m tremendously excited about the opportunity set I see before us. Avalon has a new mission we’re starting to share with investors and Canada’s broader capital markets community,” Mr. Monteith said.

Mr. Syed added: “Under our new leadership team, Avalon sees and understands what’s required to make Ontario and Canada leaders in this critically important space, and to establish Avalon’s position within it. We are putting the pieces in place to achieve our vision.”