EMC Metals Announces Changes to the Board and Management Team
Vancouver, British Columbia, February 22nd, 2010 - EMC Metals Corp. (TSX: EMC) is pleased to announce the election of Mr. Willem Duyvesteyn and Mr. Barry Davies to the Board of Directors and the appointment of Mr. Michael O'Brien as Chief Financial Officer of the Company.
Willem Duyvesteyn -- Director
Mr. Duyvesteyn is the founder and President of TTS, Inc. of Reno, Nevada, recently purchased by EMC Metals Corp. Mr. Duyvesteyn has 40 years experience in the mining, mineral and energy industries including over ten years as the Vice President and General Manager Minerals Technology for BHP Group.
Mr. Duyvesteyn was the Dean of the Delft (the Netherlands) School of Mines and has been granted over 40 US patents. He is the author of numerous technical papers and in 1999 was awarded the Goldfields Medal of the British Institution for Mining and Metallurgy for best technical paper. He is a member of various technical organizations in the mining, processing and chemical fields: AIME, CIM, IMM, AIChE, and ACS.
Barry Davies -- Director
Mr. Davies is a mining engineer with over 30 years of engineering, operations, commercial and corporate management experience in the minerals industry. He is currently President of an Asia based private investment company with diverse holdings in junior mineral exploration companies active in Asia, Latin America and Canada, and is a director of several public and private companies.
His previous positions include President and CEO of a Canadian coal mining company with more than 500 employees and annual revenues in excess of $100 million. For more than 20 years, he worked with the BHP Group including the position of Vice President, Strategic Planning and Development for BHP Minerals, Australia.
Michael O'Brien -- Chief Financial Officer
Mr. O'Brien comes to EMC Metals Corp. from Africo Resources, a TSX company operating in the Congo, where he held the position of Chief Financial Officer. Mr. O'Brien has extensive international experience in the mining and oil and gas industries as well as significant management experience.
Mr. O'Brien will be replacing Gary Arca, who will be continuing to assist us during the transition time. Mr. Steve Vanry will be leaving the Board of Directors to pursue other business opportunities. We thank both Mr. Arca and Mr. Vanry for their services.
Private Placement Financing
The Company is also pleased to announce that it has completed a non-brokered private placement financing of 2,275,000 units of the Company at a price of $0.20 per unit for gross proceeds of $455,000. Each Unit consists of one common share and one half of a non-transferable share purchase warrant. Each full warrant entitles the holder to purchase one common share of the Company at a price of $0.25 per share until February 17, 2011. The proceeds of this private placement will be used for general working capital purposes.
About EMC Metals
EMC Metals is focused on sustainable growth through the development and application of technology for specialty and exotic metals. Through successful business developments, EMC intends to utilize its patented technologies to further its efforts in maximizing opportunities in a number of specialty metals while also planning for future opportunities from its Carlin Vanadium Project and the Springer Tungsten Facility.
For additional information:
EMC Metals Corp.
Peter Bosse, President, or Investor Relations at (604) 648-4653 and email@example.com
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and EMC's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, EMC assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.