E3 Metals (ETMC.V) announces board change and regulatory update

E3 Metals (ETMC.V) announced the appointment of John McNicol to the corporate advisory board as executive advisor.

McNicol’s prior experiences include president and co-CEO of EnWave (ENW.V), where he shared responsibility for developing the company’s strategy, managing royalty revenue streams, and forging collaboration agreements with leading global players.

His notable accomplishments in his former role include raising more than $42 million in financing and improving the liquidity and market value from $8 million to $120 million.

“The nascent petro-lithium industry continues to evolve and, as a company with a significant lithium resource in Alberta, we are reviewing and assessing various strategic opportunities to further develop our proprietary technology and advance our project. John’s experience and expertise strengthens our team and we look forward to his contributions,” said Chris Doornbos, chief executive officer of E3 Metals.

A graduate of Mount Alison University with a bachelor of commerce, McNicol went on to become a chartered accountant.

Before his position at EnWave, McNicol was both the president, CEO and director of two leading airlaid non-wovens manufacturers, Concert Industries and Merfin International.

While there, he assisted both companies in the arrangement of more than $400 million in financing to support their expansion and growth into Canada, Europe and the United States, growing aggregate sales from under $20 million to north of $200 million.

McNicol’s CV also includes stints with HSBC Securities, Pemberton Securities and LRJ Capital.

Change of Auditor

In other news, E3 Metals’ announced a change of auditor to meet regulatory requirements.

The previous auditing firm, Dale Matheson Carr-Hilton (DMC), resigned as auditor at E3 Metals’ request. The audit committee and board of directors thought that having a Calgary-based auditor would be in their best interests, as the company itself is based in Calgary.

The board of directors has since appointed the Calgary-based auditing firm MNP to fill the vacancy left by the previous auditor until the next annual corporate shareholder meeting.

Here is CEO Chris Doornbos to discuss what his company has been doing:

The company stated in the press release that the firm change had nothing to do with any reservations or modified opinions in the reports created by DMC over the past two years.

The corporation’s audit committee and board of directors stated there were no events that should concern or require reporting to the appropriate regulatory bodies, and this change of auditor had absolutely nothing to do with the work done on their behalf.

–Joseph Morton

Full disclosure: E3 Metals is an Equity.Guru marketing client.

Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.

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