18:41:47 EST Mon 30 Jan 2023
Enter Symbol
or Name

Western Magnesium Corp
Symbol WMG
Shares Issued 423,616,778
Close 2022-03-07 C$ 0.37
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Western Magnesium appoints Hamady as CFO

2022-03-07 12:45 ET - News Release

Mr. Sam Ataya reports


Western Magnesium Corp. has welcomed Robert Ramsey Hamady, a seasoned financial executive, to the role of chief financial officer of the company. Mr. Hamady brings decades of experience as a finance professional with global expertise. As an investment banker, principal investor and fund manager, he has led advisory, investments, acquisitions and divestments across diverse geographies spanning North America, Latin America, Europe, the Middle East and Africa.

Mr. Hamady will lead Western Magnesium's global finance operations. He brings a wealth of experience to the role accumulated while executing over $30-billion (U.S.) of successful transactions during the past 25 years. Mr. Hamady has worked with leading financial institutions, including JPMorgan, Habboush Group, Lehman Brothers, Gulf Capital and Cambridge Place Investment Management. He has transacted across diverse industries, including technology, metals and mining, energy, infrastructure, manufacturing, telecom, health care and others. He is an expert in global special situations, complex structuring and financial optimization. Mr. Hamady is a proud graduate of Carnegie Mellon University with a bachelor of science.

"I am especially excited to join Western Magnesium at this time of extraordinary opportunity; the potential to revolutionize the clean, sustainable refinement of key resources is tremendously powerful and critical to our future. I believe Western Magnesium is at the precipice of delivering extraordinary value to its constituents," said Mr. Hamady. "I am grateful for the opportunity and look forward to participating in the growth of the business via key development initiatives," he continued.

"Mr. Hamady has joined our team at the most opportune time to lend his unparalleled financial expertise as an accomplished asset manager and adviser. He has a demonstrated track record of building and contributing to successful investment platforms and will be instrumental in our growth, including as we look forward to our listing on a major American stock exchange," said Sam Ataya, Western Magnesium's executive president and chief executive officer.

In connection with his appointment as chief financial officer, the board of directors has granted Mr. Hamady 500,000 incentive stock options exercisable at a price of 40 cents for a period of five years.

Western Magnesium would like to extend its gratitude to Kim Evans for her invaluable contribution as Mr. Hamady's predecessor to the chief financial officer leadership position.

About Western Magnesium Corp.

Western Magnesium's goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labour and energy costs relative to current methods and processes, while being environmentally friendly.

We seek Safe Harbor.

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