Nemaska Lithium Sees Bourassa Depart Company And Board

Nemaska Lithium (TSX: NMX) announced this morning that President and CEO Guy Bourassa has stepped down from his role with the company effective today. Bourassa will also be stepping down from his role as a director of the company.

The move follows the failure of Nemaska to successfully operationalize itself within Quebec and become a producer of lithium. The company entered into creditor protection proceedings in late December as a result of the inability of the company to source sufficient funding to forge ahead with its operations.

As a result of Nemaska’s failures, it was mutually agreed upon by Bourassa as well as the Board of Directors that his departure was warranted. It was viewed as being in the best interest of the company as well as its shareholders to seek new leadership as Nemaska navigates the restructuring process.

On behalf of the Board of Directors, I would like to thank Mr. Bourassa for the many years he devoted to helping build Nemaska Lithium. His dedication to creating the company and his contribution to the development of this niche market in Québec will remain an undeniable legacy.

Jacques Mallette, Chairman of Nemaska Lithium

With Bourassa’s departure, the restructuring of Nemaska Lithium will be lead by the Chairman of the Board, Jacques Mallette, as well as the remaining management team of Nemaska.

The restructuring process is currently proceeding as the company looks for either new investors or a purchaser of the company’s assets. Economic and technical documents are currently being finalized by Nemaska’s management, and are expected to be made available to interested parties by the end of February.

Nemaska Lithium remains halted on the TSX as it undergoes creditor protection proceedings.


Information for this briefing was found via Nemaska Lithium. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

Antimony Resources Drills 5.27% Sb Over 4.95 Metres In Latest Results

Nord Precious Metals Identifies 29 Veins At Castle East Following 3D Modeling

Related News

Pallinghurst Group and Traxys Join Forces in $2 Billion Ethical Battery Material Fund

It was announced earlier today that Pallinghurst Group will be forming a joint venture with...

Tuesday, November 12, 2019, 10:28:25 PM

Nemaska Facility Shutdowns To Be Completed By Years End

Nemaska Lithium (TSX: NMX) announced this morning that shutdowns will be completed shortly at its...

Friday, November 15, 2019, 10:49:13 AM

Nemaska Lithium Secures $600 Million Equity Investment Proposal

Nemaska Lithium (TSX: NMX) announced this morning that it had finally made progress on securing...

Friday, July 19, 2019, 11:26:01 AM

Nemaska – Second Brutal News Release within One Week

Tonight Nemaska Lithium (TSXV: NMX, NMX.W, OTCMKTS: NMKEF) announced they have terminated their multi-year supply...

Tuesday, February 19, 2019, 01:16:13 AM

Nemaska – Ugh, We May Need More Money

Today Nemaska Lithium (TSXV: NMX, NMX.W, OTCMKTS: NMKEF) announced in a news release the following:...

Wednesday, February 13, 2019, 10:51:01 PM