Canada Rare Earth Corp (TSX-V:LL) (CREC) has announced the appointment of Bill McGregor as its managing director of business development for Southeast Asia and Australia.
In his new role, McGregor will lead CREC's development activities in the two regions and help the company establish an essential minerals supply chain strategy with a footprint that spans several continents.
In a statement, CREC CEO Tracy A. Moore said the company is "extremely pleased" to welcome McGregor to the team, adding that his appointment will allow the company to extend its development activities in Southeast Asia and Australia.
McGregor is an experienced business development, corporate finance, and capital raising specialist, with a successful track record in Southeast Asia, Australia, and Africa. He has collaborated with CREC on a number of initiatives over the past few years and has recently focused on technology metals, including lithium, nickel, and rare earths. McGregor is based in Singapore, where he works closely with the financing ecosystem that has developed there.
In his new role, he will focus on developing and financing resource projects across Asia and Australia. He maintains strong links within the resources sector in Southeast Asian countries and Australia and is seeking to realize the potential of other countries in Asia as both suppliers and users of essential and critical minerals.
McGregor said he is excited to accept the challenge of ensuring that CREC participates to the fullest extent in the established upstream source market of Australia and the emerging and fast-growing countries of Southeast Asia.
The company also announced that it will be issuing 2.15 million stock options to officers, directors, and consultants of the company, vesting over 24 months and exercisable at five cents per share for three years.
CREC is developing an international integrated business focusing on essential and critical minerals, including rare earths. The company's strategy is to generate revenues and positive cash flow as it acquires and develops its own properties and establishes value-add processing capabilities.
Contact the author at jon.hopkins@proactiveinvestors.com