Mr Jiang Zhaobai, Chairman of Pengxin Group, confirmed as Co-Chairman, alongside Mr Robert Friedland Mr Li Binghan appointed Non-Executive Director Melbourne, Australia – Robert Friedland, Co-Chairman of Clean TeQ Holdings Limited (CLQ:ASX; CTEQF:OTCQX), and Sam Riggall, Managing Director and CEO, today announced the formal appointment of Mr Jiang Zhaobai as Co-Chairman and Mr Li Binghan as NonExecutive Director. Their appointment follows the recent completion of the share placement to Pengxin International Mining Co. Ltd. (‘Pengxin Mining’), part of the Shanghai Pengxin Group Co. Ltd (‘Pengxin Group’), to facilitate the development of the Company’s Syerston Nickel Cobalt Scandium Project in New South Wales, Australia. The Syerston Project is one of the largest accumulations of cobalt outside of Africa, and one of the largest and highest-grade scandium deposits in the world. Clean TeQ Co-Chairman Mr Robert Friedland commented, “We are delighted to welcome Mr Jiang and Mr Li onto the board of directors to further enhance the strategic partnership with Pengxin Group. I look forward to working closely with Mr Jiang and Mr Li as we maintain a fast-track schedule for the development of the Syerston Project.” Mr Jiang Zhaobai, 53, an engineer with an EMBA from China Europe International Business School, is Chairman of Shanghai Pengxin Group Co., Ltd. He is also the Executive Chairman of Shanghai Entrepreneurs Association, the Vice President of China Non-governmental Enterprise Directors Association and Economic Advisor to China Development Bank. Mr Jiang took part in numerous engineering and construction projects following graduation from university in the 1980’s. He later founded his own real estate development company in 1988. In 1997, Shanghai Pengxin Group Co., Ltd. was established with Mr Jiang as founding Chairman and he remains in that role to this date. Under Mr Jiang’s leadership, Shanghai Pengxin Group has successfully developed a number of significant property projects, amounting to a total of six million square meters. Starting from real estate development including both residential and commercial as well as hotel industry, the group has diversified into a range of other sectors including modern agriculture, mining, environmental science & technology and financial investment. The group is now a diversified conglomerate with controlling interests in four listed companies in China. Mr Jiang has been ranked in the Forbes China “Hurun Rich List” for his outstanding achievements within the last decade up to 2016. 2 Pengxin Group has a global reach, with various investments in New Zealand, Brazil, Bolivia, Denmark, South Africa and DRC. Mr Jiang has been a valuable contributor to the promotion and enhancement of China’s relationships and economic cooperation around the world. Mr Li Binghan, 42, a lawyer, is Director of the Risk Control & Legal Department of Pengxin Mining. Mr Li commenced his career with Henan Province Judicial Bureau in 1996. After five years in the Judicial Bureau, Mr Li began his legal career with Shanghai Pudong Law firm in 2003, focusing on foreign direct investment and mergers and acquisitions. In 2012 Mr Li joined Shanghai Co-effort Law Firm, working in the field of intellectual property law. Mr Li joined Pengxin Mining in 2015. Mr Li has a Masters in International Law, Law School, Fudan University, Masters in Intellectual Property Law, Law School, Queen Mary University of London, Qualification Certificate for Attorney at Law and Qualification Certificate for Patent Attorney. About Clean TeQ Holdings Limited Based in Melbourne, Clean TeQ (CLQ:ASX; CTEQF:OTCQX), using its proprietary Clean-iX® continuous ion exchange technology, is a leader in metals recovery and industrial water treatment. About the Syerston Project – Clean TeQ is the 100% owner of the Syerston Project, located in New South Wales. The Syerston Project is one of the largest and highest grade scandium deposits in the world and one of the highest grade and largest nickel and cobalt deposit outside of Africa. For more information about Clean TeQ please visit the Company’s website www.cleanteq.com. Clean TeQ contacts: Sam Riggall, Managing Director and CEO or Ben Stockdale, CFO +61 3 9797 670
CNQ Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
(20min delay)