– CANADA, Toronto – URU Metals Limited (AIM:URU), the base metals and uranium explorer and development company, is pleased to announce that Henry Kloepper has been appointed as the Company’s Executive Chairman. His main responsibilities will be to manage the ongoing technical operations of the Zebediela Nickel Project and to conclude final negotiations for the expected acquisition of lithium projects already identified by the Board and by Henry in his previous role as an advisor to the Board.
Mr Kloepper is currently CEO of Captor Capital Corporation, the Company’s largest shareholder. Until February this year, he was non-board CEO of Frontier Lithium Inc., which is developing a world-class lithium deposit in northwestern Ontario. Mr. Kloepper has worked in investment banking and structured finance throughout a 30 year career. He has held executive positions with JP Morgan, Citibank, Bank of America, and North American Trust, in Canada, the US and Europe. Further information on Mr Kloepper as required by the AIM Rules for Companies is set out at the end of this announcement.
Mr. Subotic has advised the Board that he is stepping down from all his public company directorships as a compliance requirement of the fund management company he works for. He has committed to the Board to hold the 24,633,333 shares in the Company in which he is interested (including the 3,000,000 shares he recently acquired at 2p per share following the exercise of his options) on a long term basis.
John Zorbas, Chief Executive Officer, commented: “On behalf of the Board, I would like to welcome Henry as our new Chairman. The Company is fully funded for its operational costs and current work programme. We look forward to moving our lithium project targets beyond the evaluation stage towards acquisition on terms which enhance shareholder value. On behalf of the Board, I would also like to thank David for his contribution to the Company since joining the Board in July 2012. He leaves with our best wishes”.
For more information : http://www.urumetals.com
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