Ceylon Graphite Appoints Successful Sri Lanka Business Leader to Board of Directors
23 March 2021 - 10:45PM
Ceylon Graphite Corp. (“Ceylon Graphite”) (TSX-V: CYL) (OTC: CYLYF)
(FSE: CCY) today announced that Jody P. Lenihan has joined the
Board of Directors of the company.
Mr. Lenihan has had tremendous success doing
business in Sri Lanka. He is one of the founding shareholders of
Ceylon Graphite, and was Co-Founder and Chief Executive Officer of
South Asia Energy Management Systems (SAEMS), formerly Sri Lanka’s
largest independent hydropower producer. With Sprott Asset
Management as its largest shareholder, SAEMS was involved in the
development, construction, and operation of run-of-river hydropower
facilities in Sri Lanka and Uganda including eleven projects
totaling 40MW in Sri Lanka, and two totaling 27MW project in
Uganda, recently selling its business to multiple interests.
“Jody has years of Sri Lankan business
experience, success and relationships,” said Bharat Parashar, Chief
Executive Office and Chair of the Board of Directors of Ceylon
Graphite. “Now that we are in commercial production, we will
benefit from his experience as we grow and expand our business to
mine and process the highest grade graphite for the growing
lithium-ion battery/energy storage market.”
“I’m excited to join the Board of Ceylon
Graphite,” said Lenihan. “As one of the founders of this company, I
am proud that the company has come so far in a such a short time
and is fulfilling its potential. I am looking forward to being part
of the team that drives the business to the next level and
continues the company’s evolution from a producer of natural
graphite to a technology company involved in the production of high
value add graphite and graphene products.”
Jody has also served as co-founder of AtlasPower
Inc., where he oversaw teams performing electrical acceptance
testing, startup, commissioning and power systems design around the
globe, for generation facilities as large as 2,000MW, and for
electrical switchyards of up to 500kV. He is currently also
President & CEO, Renewable Solutions Partners Pte Ltd.,
Singapore, a company involved in the development, construction, and
operation of run-of-river hydropower, solar and biomass generation
facilities in Thailand, Sri Lanka, Bangladesh, Nepal, Kenya and
Ghana.
About Ceylon Graphite Corp.Ceylon Graphite is a
public company listed on the TSX Venture Exchange, that is in the
business of mining for graphite, and developing and commercializing
innovative graphene and graphite applications and products.
Graphite mined in Sri Lanka is known to be some of the purest in
the world and has been confirmed to be suitable to be easily
upgradable for a range of applications including the high-growth
electric vehicle and battery storage markets as well as
construction, healthcare and paints and coatings sectors. The
Government of Sri Lanka has granted the Company’s wholly owned
subsidiary Sarcon Development (Pvt) Ltd. an IML Category A license
for its K1 mine and exploration rights in a land package of over
120km². These exploration grids (each one square kilometer in area)
cover areas of historic graphite production from the early
twentieth century and represent a majority of the known graphite
occurrences in Sri Lanka.
Further information regarding the Company is
available at www.ceylongraphite.com |
|
Bharat
Parashar, Chairman and & Chief Executive Officer |
|
info@ceylongraphite.com |
|
Corporate Communications |
|
+1(202)352-6022 |
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release
FORWARD LOOKING STATEMENTS:
This news release contains forward-looking
information as such term is defined in applicable securities laws,
which relate to future events or future performance and reflect
management's current expectations and assumptions. The
forward-looking information includes statements about Ceylon
Graphite’s grids, Ceylon Graphite’s plans to undertake additional
drilling and to develop a mine plan, and to commence establishing
mining operations. Such forward-looking statements reflect
management's current beliefs and are based on assumptions made by
and information currently available to Ceylon Graphite, including
the assumption that, there will be no material adverse change in
metal prices, all necessary consents, licenses, permits and
approvals will be obtained, including various Local Government
Licenses and the market. Investors are cautioned that these
forward-looking statements are neither promises nor guarantees and
are subject to risks and uncertainties that may cause future
results to differ materially from those expected. Risk factors that
could cause actual results to differ materially from the results
expressed or implied by the forward-looking information include,
among other things, an inability to reach a final acquisition
agreement, inaccurate results from the drilling exercises, a
failure to obtain or delays in obtaining the required regulatory
licenses, permits, approvals and consents, an inability to access
financing as needed, a general economic downturn, a volatile stock
price, labour strikes, political unrest, changes in the mining
regulatory regime governing Ceylon Graphite, a failure to comply
with environmental regulations and a weakening of market and
industry reliance on high quality graphite. Ceylon Graphite
cautions the reader that the above list of risk factors is not
exhaustive.
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