5E Advanced Materials Appoints Seasoned Borates Executive to Lead Commercial Program

Globe Newswire 2-Oct-2024 8:55 AM

HESPERIA, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- 5E Advanced Materials, Inc. (NASDAQ:FEAM) (ASX: 5EA) ("5E" or the "Company"), a boron and lithium company with U.S. government Critical Infrastructure designation for its 5E Boron Americas Complex, announced the appointment of Mark Zamek to its senior leadership team.

Mr. Zamek joins the Company as its Vice President of Commercial Products and brings more than 20 years of direct industry experience, having held various senior roles across Sales and Marketing functions at the largest global borate producers. Most recently, Mr. Zamek served as a consultant for Eti Maden where he advised the U.S.-focused boron operations on commercial strategy and market expansion initiatives. Prior to that, Mr. Zamek served in numerous strategic Sales and Marketing roles for over twenty years with Rio Tinto's U.S. Borax, most recently as Key Global Accounts Manager where he was responsible for managing the company's largest global borates contract.

Paul Weibel, Chief Executive Officer of 5E Advanced Materials, commented, "We are excited to have Mark join our team, as his extensive experience and skillset will be a critical aspect of 5E's commercial development. Mark's expertise in the global borates markets will serve to strengthen and accelerate the execution of 5E's commercial strategy as we look to leverage our initial production results to advance commercial contracting and off-take agreements with customers. As the Company's strategic priorities evolve towards fully standing up the business and securing our debt financing, this appointment brings in a complementary skillset that is well-suited to facilitate and deepen 5E's customer engagements and commercial partnerships. We are encouraged by the strategic and operational progress we have made in recent months, and this new addition to our leadership team will help 5E execute our vision of becoming a global leading supplier of boric acid and boron specialty materials."

About 5E Advanced Materials, Inc.

5E Advanced Materials, Inc. (NASDAQ:FEAM) (ASX: 5EA) is focused on becoming a vertically integrated global leader and supplier of boron specialty and advanced materials, complemented by lithium co-product production. The Company's mission is to become a supplier of these critical materials to industries addressing global decarbonization, food and domestic security. Boron and lithium products will target applications in the fields of electric transportation, clean energy infrastructure, such as solar and wind power, fertilizers, and domestic security. The business strategy and objectives are to develop capabilities ranging from upstream extraction and product sales of boric acid, lithium carbonate and potentially other co-products, to downstream boron advanced material processing and development. The business is based on the company's large domestic boron and lithium resource, which is located in Southern California and designated as Critical Infrastructure by the Department of Homeland Security's Cybersecurity and Infrastructure Security Agency.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical fact included in this press release regarding the company's business strategy, plans, goals, and objectives, including regarding the anticipated changes to the company's board of directors and management and anticipated benefits, are forward-looking statements. When used in this press release, the words "believe," "project," "expect," "anticipate," "estimate," "intend," "budget," "target," "aim," "strategy," "plan," "guidance," "outlook," "intent," "may," "should," "could," "will," "would," "will be," "will continue," "will likely result," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on the Company's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the extraction of the critical materials we intend to produce and advanced materials production and development. These risks include, but are not limited to: our limited operating history in the borates and lithium industries and no revenue from our proposed extraction operations at our properties; our need for substantial additional financing to execute our business plan and our ability to access capital and the financial markets; our status as an exploration stage company dependent on a single project with no known Regulation S-K 1300 mineral reserves and the inherent uncertainty in estimates of mineral resources; our lack of history in mineral production and the significant risks associated with achieving our business strategies, including our downstream processing ambitions; our incurrence of significant net operating losses to date and plans to incur continued losses for the foreseeable future; risks and uncertainties relating to the development of the Fort Cady project, including our ability to timely and successfully complete our proposed Commercial Scale Boron Facility; our ability to obtain, maintain and renew required governmental permits for our development activities, including satisfying all mandated conditions to any such permits; the implementation of and expected benefits from certain reduced spending measures, and other risks and uncertainties set forth in our filings with the U.S. Securities and Exchange Commission from time to time. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. These risks are not exhaustive and the information in this press release may be subject to additional risks. No representation or warranty (express or implied) is made as to, and no reliance should be place on, any information, including projections, estimates, targets, and opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions, or misstatements contained herein. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as to the date of this press release.

For additional information regarding these various factors, you should carefully review the risk factors and other disclosures in the Company's Form 10-K filed on September 9, 2024 and subsequent filings with the U.S. Securities and Exchange Commission throughout the year, as well as in its filings under the Australian Securities Exchange. Any forward-looking statements are given only as of the date hereof. Except as required by law, 5E expressly disclaims any obligation to update or revise any such forward-looking statements. Additionally, 5E undertakes no obligation to comment on third party analyses or statements regarding 5E's actual or expected financial or operating results or its securities.

For further information contact:

Joseph Caminiti or Nathan Skown
Alpha IR Group
FEAM@alpha-ir.com
Ph: +1 (312) 445-2870