Robert B. Catell Appointed as a Director of American Vanadium
June 04 2014 - 7:44AM
Access Wire
Vancouver, BC / ACCESSWIRE /
June 4, 2014
/ AMERICAN VANADIUM
CORP. ("American Vanadium" or the "Company") (TSX.V:
AVC) (OTCQX: AVCVF) is pleased to announce the appointment of
Robert B. Catell to the Board of Directors, effective
immediately.
"We are honored to welcome Bob
to our Board of Directors and look forward to working with him to
position the Company as a leader in the energy storage industry,"
said Bill Radvak, President & CEO of American Vanadium. "Bob's
career and background in the energy sector are truly impressive and
the knowledge and relationships he brings will have a major impact
as we continue to grow our presence in the rapidly expanding energy
storage marketplace. This appointment is a key part of the process
of ensuring that we have the resources and leadership in place to
achieve our goals."
Mr. Catell, currently Chairman
of Keyera Corp. (TSX:KEY), was formerly the Chairman and CEO of
KeySpan Corporation and KeySpan Energy Delivery, the former
Brooklyn Union Gas. Following National Grid's acquisition of
KeySpan Corporation, Mr. Catell became Chairman of National Grid,
U.S. and Deputy Chairman of National Grid plc.
"With the commercially
available CellCube vanadium flow system, American Vanadium is well
positioned to become a leader in the long duration energy storage
sector," said Bob Catell. "Tremendous opportunities are arising in
New York, California, Hawaii, Ontario, Alaska and other parts of
North America with new requirements for local utilities to
integrate long-duration storage into their transmission networks
and the CellCube is a proven solution for these
opportunities."
Mr. Catell currently serves as
Chairman of the Board of the Advanced Energy Research and
Technology Center (AERTC) at Stony Brook University, New York State
Smart Grid Consortium, Cristo Rey Brooklyn High School, Futures in
Education Endowment Fund and the New York Energy Policy Institute's
Advisory Council (NYEPI). Mr. Catell serves on the Board of NY
State Energy Research & Development Authority (NYSERDA) and the
NYS Economic Development Power Allocation Board (EDPAB).
In
connection with his appointment, American Vanadium has granted Mr.
Catell a total of 250,000 stock options at the exercise price of
$0.60 each for a term of five years. The stock options are granted
pursuant to the Company's Stock Option Plan, as amended.
American Vanadium also reports
that it has entered into a consulting agreement ("Agreement") with
Murdock Capital Partners Corp. ("Murdock") to act as the Company's
corporate advisor. Pursuant to the Agreement, American Vanadium
will issue to Murdock up to 60,000 common shares of the Company in
two tranches upon Murdock achieving certain milestones. The
issuance of these shares is subject to the approval of the TSX
Venture Exchange.
American Vanadium further
reports that Revelation Business Solutions Ltd., a consultant, has
met certain milestones pursuant to a consulting agreement dated May
1, 2013 and the Company is issuing the second tranche of 30,000
common shares at a deemed price of $0.53 each subject to TSX
Venture Exchange approval.
About American Vanadium
Corp.
American Vanadium is an
integrated energy storage company and the Master Sales Agent in
North America for GILDEMEISTER energy solution's CellCube energy
storage system. The CellCube is the world's only commercially
available vanadium flow battery, providing long duration solutions
over a 20+ year life for a broad range of applications including
renewable energy integration and demand charge reduction. CellCube
is a powerful, durable and reliable energy storage system that
ensures a clean, emission-free energy supply at all times. American
Vanadium is developing the Gibellini Vanadium Project in Nevada to
be the only dedicated vanadium mine in the United States, providing
a critical source of vanadium electrolyte for CellCube energy
storage systems.
ON BEHALF OF THE BOARD
Bill Radvak, President and
CEO
For further information, please contact: Dan
Schieber, Director,
Corporate Finance
(604) 681-8588 X 106
dschieber@americanvanadium.com
www.americanvanadium.com
NEITHER THE TSX VENTURE
EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
SOURCE: AMERICAN VANADIUM CORP