Far Resources Strengthens Advisory Board with a Focus on Future Growth Opportunities in the Battery and Technology Sector
Wednesday, March 6, 2019 9:35 AM
TORONTO, ON / ACCESSWIRE / March 6, 2019 / Far Resources Ltd (CSE: FAT) (FSE: F0R) (OTC PINK: FRRSF) is pleased to announce that it will be assisted by technology and consulting firm BattMat Technologies Inc. to create an advanced strategy for marketing Far's lithium resources, identifying new technology-driven trends in battery materials, and identifying potential partners and resource acquisitions for battery metals and related technologies.
BattMat will be represented on Far's Advisory Board by Lee Wheelbarger and Roger Wagner, who will bring their unrivalled expertise to Far's team to help guide the company's growth in this rapidly expanding sector.
"It is a fantastic opportunity and honour to be able to work with BattMat and these two greatly respected industry experts as part of our team," said Far President and CEO, Toby Mayo. "Expanding the company's strategy into the battery and related technology sector will set us apart in what is an increasingly crowded lithium exploration market, bringing value to our shareholders through exposure to this high-growth sector. All forecasts point towards a huge surge in demand for batteries and their raw materials, and this agreement will bring unique insight into how to tap that growth."
As with the company's recent financing with Alumina, this partnership will allow Far to advance its excellent Canadian hard rock lithium assets but with an eye on future developments, allowing it to identify industry trends well in advance of our peers and strengthening its strategic standing and recognition within the battery and technology industries.
K. LEE WHEELBARGER
Lee Wheelbarger has over 30 years experience in Research, Development, Test & Evaluation (RDT&E) of battery-centered, high-reliability hybrid power systems and electronics, including cutting-edge systems for critical infrastructure, military and marine applications, and is responsible for dozens of patents and inventions. As Senior Technologist and Lead Technical Integrator for the U.S. Army Dismounted Battlespace Battle Lab (DBBL), Fort Benning, Georgia, he managed a budget of over $400MM, evaluated dozens of systems and led the testing and integration of the first battlefield-ready "MilSpec" (1342B 2) hybrid battery-generator system. Mr. Wheelbarger subsequently oversaw the design and testing of mobile auxiliary battery-based systems that have been successfully installed in hundreds of police, emergency and utility vehicles, including ambulances. He currently designs and consults on hybrid solar generator systems that incorporate battery storage using best-of-breed lithium batteries to provide reliable power for critical infrastructure, mobile power and telecommunications applications. He is also managing a project to test sustained solar-battery propulsion and auxiliary power for vessels.
ROGER B. WAGNER
Roger Wagner has acted as legal and strategic advisor to leading energy and resource companies over his 35-year plus career, including as in-house counsel to the renewable energy subsidiary of a Fortune 200 company, senior partner in the energy and resource practice of two international law firms and an advisor to companies developing renewable energy, unconventional gas exploration technology, multi-minerals deposits and renewable power. He has counselled companies and government clients of The World Bank, The Asian Development Bank and US AID on reform of the energy and resource sectors, renewable energy and project development and finance. He is currently an advisor to a hybrid power solutions company, a solar energy technology company and an advisor/sponsor of a project to convert vessels to solar-battery power. He was educated at Yale and the University of Virginia School of Law.
Far Resources Ltd. is a Canadian battery and technology metals exploration and development company with projects in Canada and the USA. More information on Far is available at www.farresources.com.
Terri Anne Welyki
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Forward Looking Statements
This news release contains forward-looking statements, and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the future draw-downs under the Facility, the anticipated use of proceeds from the Facility, the planned exploration for the Hidden Lake project and the Zoro lithium property, and the anticipated business plans and timing of future activities of the Company are forward looking statements and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company, including without limitation, that market fundamentals will result in sustained lithium demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company's mineral properties in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Company projects, and the Company's ability to comply with environmental, health and safety laws.
Readers are cautioned that these forward looking statements are neither promises nor guarantees of future results or performance, and are subject to risks and uncertainties that may cause future results to differ materially from those expected as a result of various factors, including, the ability of the Company to close any future Tranches under the Facility, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realisation of mineral reserves and mineral resources, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financing, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorisations, including acceptance by the CSE, as applicable, required for future exploration activities or the acquisition of additional mineral properties, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada.
All of the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
SOURCE: Far Resources Ltd.