Standard Lithium Announces Leadership Transition for Strategic
Growth and Next Steps in Value Creation
Positioning Standard Lithium for Next Phase of Corporate
Growth
VANCOUVER, British Columbia, Aug. 01, 2024
(GLOBE NEWSWIRE) -- Standard Lithium Ltd.
(“Standard Lithium” or the “Company”) (TSXV:SLI) (NYSE
American:SLI) (FRA:S5L), a leading near-commercial lithium
development company, today announced a leadership transition that
aligns with the Company's growth strategy and next steps in value
creation.
Effective September 1, 2024, Robert Mintak will
retire as Chief Executive Officer and remain engaged as an advisor
through August 2025. David Park will assume the position of Chief
Executive Officer effective September 1, 2024.
Over the past year, David Park has been actively
engaged with Standard Lithium as a strategic advisor, working
closely with the senior management team. His deep understanding of
the Company's vision and strategic goals, coupled with his
respected position within the organization, has made him a key
contributor to the Company’s recent successes. Mr. Park has been
involved extensively across corporate, project, and strategic
developments, ensuring alignment and effective execution of
initiatives, including helping to secure Equinor ASA (“Equinor”) as
a strategic partner.
Prior to his advisory role, Mr. Park served as
President of Koch Strategic Platforms (“KSP”), the division of Koch
Industries which invested in Standard Lithium in 2021. Before that,
Mr. Park served as Senior Vice President, Strategy and Business
Development of Georgia-Pacific, LLC, a subsidiary of Koch
Industries, and held other significant roles at Koch, including
President of TrueNorth Energy and Koch Exploration, and CFO of
Koch’s Canadian exploration and production, pipeline, and energy
trading business.
Mr. Park began his career at Koch in its
business development group, after serving as an International
Business Development Specialist at Atomic Energy of Canada Ltd.
Throughout his career, he has successfully completed more senior
and complex roles, focussed on delivering outstanding corporate
growth, underscoring his ability to drive success and generate
significant value for Standard Lithium.
The appointment of Mr. Park as the next CEO is
the culmination of a thorough succession planning process by the
Company’s Board of Directors, which looked to bring in a candidate
who could lead Standard Lithium in its next phase of growth and
value creation for shareholders. This transition comes at a pivotal
time, coinciding with the recent partnership with Equinor, which
has significantly strengthened the Company’s position and set the
stage for accelerated progress and innovation.
During his more than seven years as CEO, Robert
Mintak has been instrumental in establishing Standard Lithium as a
leader in the lithium sector. During his tenure, the Company
developed key strategic partnerships and secured significant
investments, including those with LANXESS, Tetra Technologies, Koch
Industries and Equinor. These collaborations have advanced the
Company’s projects and positioned Standard Lithium for success.
Robert Cross, Chairman of the Board said,
"Robert was a co-founder of the Company and his leadership and
commitment has been critical in our evolution from a startup to
where we are today. In addition to the strategic relationships the
Company garnered during his tenure, Robert was very focussed on
fostering strong relationships with community and state leaders,
generating substantial support for our projects in Arkansas and
Texas. This collaborative approach has distinguished Standard
Lithium within the resource sector. The Board is grateful for
Robert’s accomplishments and unwavering commitment to building a
foundation for our next phase of growth.”
Reflecting on his tenure, Robert Mintak
commented, "It has been an incredible journey leading Standard
Lithium and working with our talented team. I'm proud of what we've
accomplished, particularly our strong partnerships and meaningful
community engagement. As an active advisor, I will continue working
with David, Andy and the team to advance our projects and maintain
our efforts in generating shareholder value. I am confident that
David is well-equipped to take the Company forward into its next
chapter of growth and value creation."
Dr. Andy Robinson, President & COO, stated,
"Robert and I started this Company together seven years ago with a
shared vision for Standard Lithium. His focus on strong
partnerships, deep industry relationships and community engagement
has been a cornerstone of our success. We are entering the next
phase of the Company’s growth plans as we move towards commercial
development, and the entire team looks forward to accelerating this
momentum with David's leadership and we are all excited for the
future opportunities that lie ahead."
David Park added, “I’m excited to have the
opportunity to help build on the solid foundations Robert and Andy
have laid, and work in close partnership with Equinor, Koch, Andy
and the rest of the Standard Lithium team to drive the strategic
direction and execution of our low cost, environmentally friendly,
domestic lithium projects in support of the growing American energy
storage and electric vehicle industries.”
About Standard Lithium Ltd.
Standard Lithium is a leading near-commercial
lithium development company focused on the sustainable development
of a portfolio of large, high-grade lithium-brine properties in the
United States. The Company prioritizes projects characterized by
the highest quality resources, robust infrastructure, skilled
labor, and streamlined permitting. Standard Lithium
aims to achieve sustainable, commercial-scale lithium production
via the application of a scalable and fully integrated Direct
Lithium Extraction (“DLE”) and purification process. The Company’s
flagship projects are located in the Smackover Formation, a
world-class lithium brine asset, focussed in Arkansas and Texas. In
partnership with global energy leader Equinor, Standard Lithium is
advancing the South West Arkansas Project, a greenfield project
located in southern Arkansas, and actively exploring promising
lithium brine prospects in East Texas. Additionally, the Company is
advancing the Phase 1A Project in partnership with LANXESS, a
brownfield development project located in southern Arkansas.
Standard Lithium operates the only commercial-scale, continuously
operating DLE Demonstration facility in North America. Standard
Lithium also holds an interest in certain mineral leases in the
Mojave Desert in San Bernardino County, California.
Standard Lithium trades on both the TSX Venture
Exchange (the “TSXV”) and the NYSE American under the symbol “SLI”;
and on the Frankfurt Stock Exchange under the symbol “S5L”. Please
visit the Company’s website at www.standardlithium.com.
Investor and Media Inquiries
Chris Lang
Director of Finance
+1 604 409 8154
c.lang@standardlithium.com
Twitter: @standardlithium
LinkedIn: https://www.linkedin.com/company/standard-lithium/
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
This news release may contain certain
“Forward-Looking Statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities laws. When used in this news
release, the words “anticipate”, “believe”, “estimate”, “expect”,
“target, “plan”, “forecast”, “may”, “schedule” and other similar
words or expressions identify forward-looking statements or
information. These forward-looking statements or information may
relate to intended development timeline, accuracy of mineral or
resource exploration activity, and other factors or information.
Such statements represent the Company’s current views with respect
to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by the
Company, are inherently subject to significant business, economic,
competitive, political and social risks, contingencies and
uncertainties. Many factors, both known and unknown, could cause
results, performance or achievements to be materially different
from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements. The
Company does not intend, and does not assume any obligation, to
update these forward-looking statements or information to reflect
changes in assumptions or changes in circumstances or any other
events affecting such statements and information other than as
required by applicable laws, rules and regulations.
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