Critical Resources' Chairman Mr Robert Martin said:
“It is a pleasure to welcome Alex to the full time roll as Managing Director.
Since joining the Company in January, Alex has been influential in developing a robust corporate strategy, orenetitating the Company to focus on lithium and taking initial steps to transition from explorer to producer.
As the lithium industry undergoes unprecedented global growth, there are very few executives that have been involved in the delivery of a hard-rock lithium project.
With Alex's project delivery experience, and his exceptional global network through out the lithium supply chain, we are extremely fortunate to have secured someone with both his industry experience and broader corporate leadership abilities.
The Board and I look forward to working with Alex and we are confident that this next stage of growth is going to be very anexciting time for the Compnay.”
A summary of Mr Cheeseman's employment agreement can be seen in Appendix A.
Vesting of Performance Rights as a Non-Executive Director The Company advises that, in accordance with the terms of its Tranche 1 Performance Rights issued to Mr Cheeseman in July 2022 (and as approved by Shareholders in Mary 2022), a total of 2,000,0000 of Mr Cheeseman's tranche 1 performance rights have vested. The performance milestone for the tranche 1 performance rights was achieving a volume weighted average price (VWAP) of the Company's Shares of at least $0.07, calculated over 20 consecutive trading days (20 day VWAP). It is the Company's intention to seek shareholder approval at the upcoming shareholder meeting for the cancellation of all unvested Performance Rights previously issued to Mr Cheeseman at the respective meeting date.
This announcement has been approved for release by the Chairmam.
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