Clean Air Metals Inc (TSX-V:AIR, OTCQB:CLRMF) told investors it has formalized a process to explore strategic alternatives to maximize the value of its common shares and has formed a special committee of its board of directors to review and provide advice on its options.
The company said the alternatives it will consider include strategic funding, strategic partnerships or joint ventures, the possible divestiture of all of its outstanding common shares, or other potential transactions.
As well as the special committee, it said Paradigm Capital Inc. is providing financial advisory services to the company.
“There can be no assurance that the exploration of strategic alternatives will result in any agreements or transactions and no timetable has been set for its completion,” Clean Air Metals said in a statement.
“The company does not intend to disclose developments with respect to the exploration of strategic alternatives unless and until its Board has approved a definitive agreement or transaction or there are material developments to report."
Clean Air Metals' flagship asset is the 100% owned, high-grade Thunder Bay North Critical Minerals Project, a platinum, palladium, copper, and nickel project located near the City of Thunder Bay, Ontario and the Lac des Iles Mine owned by Impala Platinum.
Contact the author at stephen.gunnion@proactiveinvestors.com