THUNDER BAY, ON, Sept. 3, 2020 /CNW/ - Clean Air Metals Inc. ("Clean Air Metals" or the "Company") (TSXV: AIR) (OTCQB: CLRMF) is pleased to announce that its common shares commenced trading recently on the OTCQB Venture Marketplace, a US trading platform that is operated by the OTC Markets Group in New York. The Company's common shares now trade on the OTCQB under the symbol "CLRMF", and will continue to trade on the TSX Venture Exchange under the symbol "AIR".
The Company also announces the appointment of Renmark Financial Communications Inc. ("Renmark"), of Montreal and Toronto, to assist with its investor and media relations activities. In consideration for the services to be provided, Clean Air Metals will incur up to $8,000 in monthly fees, starting September 1st, 2020 for a period of six months ending on February 28th, 2021 and monthly thereafter. Renmark will not have any interest, directly or indirectly, in Clean Air Metals or its securities, or any right or intent to acquire such an interest.
"We are very pleased with the appointment of Renmark to help reinforce Clean Air Metals' profile in the North American financial community. I know from personal experience how effective the Renmark team are and look forward to working with them once again" noted Abraham Drost, CEO of Clean Air Metals.
The Company also announces a new research partnership with the Lakehead University geology department to investigate the mineralized intrusions of the Thunder Bay North Intrusive Complex, part of the Midcontinent Rift of North America. Dr. Peter Hollings, Chairman of the Geology Department, in conjunction with Dr. Derek Wilton of the Memorial University of Newfoundland, their students and Clean Air Metals' personnel will jointly examine the local portion of the nearly 3,000-kilometre-long rift in the earth's surface that forms the north shore of the Lake Superior Basin. The research will complement the Company's exploration work at its Escape Lake and Thunder Bay North deposits.
"This project will contribute significantly to our understanding of the processes that form high-grade zones within magmatic nickel, copper and platinum systems and develop tools that can be applied by Canadian companies to aid in generating future discoveries," Dr. Hollings added.
Clear Air Metals CEO Abraham Drost said that "having a Thunder Bay field office helps us to tap into the knowledge base at Lakehead University and hire its high quality geology graduates. To the extent that the upcoming research program could contribute to new, economic discoveries at the Thunder Bay North property, the company's cash investment of $150,000 over 3 years plus in-kind contributions, multiplied by the federal government's NSERC contribution of $300,000 is a vote of confidence in the mineral potential of the area."
About Clean Air Metals Inc.
Clean Air's flagship asset is the 100% owned, high grade Thunder Bay North Project, a platinum, palladium, copper, nickel advanced exploration project located just north of Lake Superior near the City of Thunder Bay, Ontario and the Lac des Iles Mine owned by Impala Platinum. The Clean Air Metals project hosts the Current Lake magma conduit and is actively exploring the Escape Lake magma conduit, a twin structure to Current Lake as previously reported on August 20, 2020 at https://cleanairmetals.ca/news-media/news-releases/clean-air-metals-announces-new-step-out-drill-resu-122506/. The mineralized magma conduits are part of the Thunder Bay North Intrusive Complex wholly contained on Clean Air's 30,000ha exploration concessions. Executive Chairman Jim Gallagher and CEO Abraham Drost lead an experienced team of explorers, researchers and engineers who are using the Norilsk magma conduit stratigraphic and mineral deposit model to guide ongoing exploration and development studies. As the former CEO of North American Palladium Ltd. which owned the Lac des Iles Mine prior to the sale to Impala Platinum in December, 2019, Jim Gallagher is credited with the mine turnaround and creation of significant value for shareholders.
Mr. Allan MacTavish, P.Geo. a Qualified Person under National Instrument 43-101 and VP-Project Manager of the Company, has reviewed and approved all technical information in this press release.
First Nation Relations
Clean Air Metals Inc. and its wholly-owned subsidiary Panoramic PGMs (Canada) Ltd. acknowledge that the Thunder Bay North Project is on the traditional territories of the Fort William First Nation, Red Rock First Nation and Biinjitiwabik Zaaging Anishnabek, signatories to the Robinson-Superior Treaty of 1850. Clean Air's wholly-owned subsidiary Panoramic PGMs (Canada) Ltd. is a signatory to a Communication Protocol between the parties.
ON BEHALF OF THE BOARD OF DIRECTORS
Abraham Drost, Chief Executive Officer of Clean Air Metals Inc.
Neither the 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.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.
SOURCE Clean Air Metals Inc.