The appointment of Rod Reum
will bring a long, tenured and strong track record of
executive leadership and corporate finance to Sage Potash as it progresses into
construction.
VANCOUVER, BC, Oct. 17,
2024 /CNW/ - Sage Potash Corp., (TSXV: SAGE) (OTC:
SGPTF) ("Sage" or the "Company") is pleased to announce that
Rod Reum has been appointed Chief
Financial Officer effective immediately. Mr. Reum brings forty
years of international finance leadership experience and public
company governance as Sage Potash
progresses into its construction phase of developing its Sage Plain
Project in Utah. As CFO, Mr. Reum
has added to the recent transformation of the management team of
operational industry experts, such as Shilo
Sazwan, who joined Sage
Potash as a strategic operations partner. Mr. Sazwan is
responsible for sourcing and securing the fertilizer plant
equipment purchase agreement in partnership with International
Process Plants, announced on September
8th, 2024.
With the Company advancing towards construction and operations,
Mr. Sazwan has brought on his Terrarock Industries team of in-house
engineering, construction, logistics, and accounting experts to
lead the project management of the construction and commissioning
of its Muriate of Potash pilot plant in Utah. Mr. Sazwan and his construction and
engineering team have over twenty-five years of experience
designing and operating high-quality, innovative, sustainable
evaporative mineral plants. The Company's Utah Sage
Plain plant will be Mr. Sazwan's ninth such facility to be built at
significant cost savings.
Mr. Reum joins Sage Potash with
extensive experience and a strong executive corporate finance track
record, including leading high-growth start-ups and large
international partnerships from development to production stages
across construction, mining, alternative energy, forestry and
military industries. Highly skilled in risk management,
securing global strategic alliances and leading finance teams
through complex international joint ventures, including a large
Canadian Kraft Pulp Mill.
Mr. Reum most recently served as CFO for Mavericks Micro Grids
Inc., providing leadership and expertise in US IRA Investment Tax
credit financing and carbon credit modelling. "Sage Potash's opportunity value is unparalleled
and key to local production in support of America's fertilizer
industry, which is nearly 100% dependent on potash imports. With
Sage's recent announcements of adding new senior operational
partners and purchasing plant equipment, the team is clearly
committed to advancing this project in a highly cost-effective,
risk-mitigated strategy," said Mr. Reum.
Sage's CEO, Peter Hogendoorn,
says, "Mr. Reum's appointment and expertise in overseeing both US
and Canadian public companies will provide the appropriate
financial oversight and strategic guidance to Sage as our
construction begins and operations expand. With our recent plant
acquisition announcement and financing activities, we are clearly
focused on delivering results and value to our shareholders at each
stage of our project development."
Mr. Reum replaces Mr. Grossholtz, who has served as CFO since
November 2021. The Company wishes to
thank Mr. Grossholtz for fulfilling that role and express
appreciation for his service.
The Company aims to share in the achievements with its
directors, employees, and consultants and encourage all parties to
align interests with shareholders in boosting Sage Potash's long-term value and profitability.
As such, the company wishes to announce that it has granted an
aggregate of 4,350,000 stock options to certain directors,
officers, employees, and consultants pursuant to the Company's
stock option plan. The stock options have an exercise price
of $0.25 per share and an expiry date of October 17, 2026.
About Sage Potash Corp.
Sage
Potash is a Canadian company vested solely in the Sage Plain
Property and intends to become a prominent domestic potash producer
within the Paradox Basin situated in Utah through sustainable solution mining
techniques. For further information, please refer to the Company's
disclosure record on SEDAR+ (www.sedarplus.ca) or contact the
Company by email at info@sagepotash.com.
On Behalf of the Board of Directors,
Peter Hogendoorn
CEO & Executive Chairman
(604) 764-2158
Website: www.sagepotash.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release may contain
"forward-looking statements", which are statements about the future
based on current expectations or beliefs. For this purpose,
statements of historical fact may be deemed to be forward-looking
statements. Forward–looking statements by their nature involve
risks and uncertainties, and there can be no assurance that such
statements will prove to be accurate or true. Investors should not
place undue reliance on forward-looking statements. The Company
does not undertake any obligation to update forward-looking
statements except as required by law.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/sage-potash-continues-to-strengthen-team-by-adding-corporate-finance-veteran-as-cfo-and-retains-terrarock-industries-for-plant-construction-302278772.html
SOURCE Sage Potash Corp.