GREENWICH, Conn., Aug. 24, 2022 (GLOBE NEWSWIRE) -- BoxScore Brands, Inc. (OTC Pink Current: BOXS) (“BoxScore”, the “Company”) a U.S.-based renewable energy company focused on the extraction, refining, manufacturing, and distribution of precious technical minerals, today announces the addition of two senior executives to its Board of Directors.
On August 19, 2022, the Board of Directors of BoxScore Brands, Inc. approved the addition of Senior Investment Banker, Justin Vorwerk and Lithium Industry Executive Andrew P. Suckling to its Board of Directors.
Justin J. Vorwerk began his career on Wall Street in 1981 and has served as Managing Director- Investment Banking at CSFB/DLJ, Goldman Sachs and Bankers Trust among others. At Royal Bank of Scotland Mr. Vorwerk was a Senior Managing Director in the Private Equity Coverage Group and head of Investment banking and capital markets at CRT Capital in Stamford CT. At CRT, Justin was head of origination and structuring of debt and equity products and M&A advisory. Mr. Vorwerk holds an MBA from the University of Pennsylvania (Wharton) and Princeton University where he graduated with an AB Economics ’81.
Mr. Vorwerk stated, “I am thrilled to be a part of a young company that has so much opportunity and growth ahead of it. Electrification of our global economies is critical to the well being of our environment and requires a broad effort by all US corporations, alike. Change begins upstream with critical minerals, ideally, harvested domestically.” Mr. Vorwerk, as a member of The Board of BoxScore Brands, Inc. plans to brings his skills and contacts in the U.S. capital markets to assist and advise the company in the execution of its capital plan.
On August 22, 2022, the Board of Directors of BoxScore Brands, Inc., also approved the addition of Andrew Suckling to bring the number of Board Members to seven (7). Mr. Suckling is Non-Executive Chairman of the Board of Cadence Minerals PLC, an AIM (London) listed public company and has over 25 years’ experience in the commodity industry. He began his career as a trader on the London Metal Exchange (LME) for Metallgesellschaft (MG). In that role, he established a trading presence in China for MG setting up a representative office in Shanghai in 1997. He then became a partner and trader with the New York based multi-billion fund manager Ospraie Management, LLC. Mr. Suckling is also Non-Executive Director of Macarthur Minerals, Ltd, where is serves as Chairman of the Audit Committee. Macarthur is a TSX (Toronto) and ASX (Sydney) listed mineral explorations company focused on iron ore development and lithium exploration in Western Australia. In addition to his role as Executive Chairman at Cadence he is the founding principal and portfolio manager for Verulam, a discretionary commodity fund. Mr. Suckling is a graduate of Brasenose College, Oxford University earning a BA (Hons) in Modern History in 1993 and an MA in Modern History in 2000.
In a statement Mr. Suckling said, “I am pleased to join the team as I know I can offer strategic direction and advice in the critical minerals industry. While the EV revolution is a global opportunity, the U.S. is underinvested in the category to date. I believe the companies assets are very attractive given the friendly jurisdiction for production as well as known and proven geology throughout the state of Utah.”
On November 5, 2021, BoxScore acquired the rights to 102 Federal Mining Claims located in the Lisbon Valley of Utah. The acquisition was driven by historical mineral data from seven existing wells with brine aquifer access. Independent third-party technical reports indicated that further investment and development in the claims were warranted.
In the second quarter of 2022, led by BoxScore Chief Operating Officer and 30-year industry veteran, Mr. Patrick Avery, the Company activated consulting teams to pursue additional land acquisitions, and to begin the State and Federal permitting process for project development work of the Lisbon Lithium Project. In addition, the Company initiated construction strategies based on reports from RESPEC, the Company's engineering partner, for geological modeling and drill entry design, and related planning.
BoxScore is currently in talks with extraction providers and remains committed to moving forward with its strategy of employing Direct Lithium Extraction “DLE” technology. Company executives believe selective mineral extraction is clearly the most cost-effective and ESG-friendly approach currently available.
The Company will also look to expand its holdings with the acquisition of additional mineral claims and joint venture opportunities in the Americas.
BoxScore Brands, Inc. released their 2022 Second Quarter report on August 17thand it can be viewed by visiting the Company’s Investor Relations page or within the Filings section of the Securities & Exchange Commissions’ home page located at www.sec.gov.
Company and industry news and updates will also be posted on BoxScore’s Twitter page.
ABOUT BOXSCORE BRANDS, INC.
BoxScore Brands Inc., based in Greenwich, CT, is a U.S.-based renewable energy company focused on the extraction, refining, manufacturing, and distribution of precious technical minerals. The company is committed to utilizing technologically advanced solutions to meet the highest ESG government standards. For more information, visit: www.boxscore.com
Company Contact:
BoxScore Brands, Inc.
Investor Relations
Tel: (800) 998-7962
Email: ir@boxscore.com
FORWARD-LOOKING STATEMENTS
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies, and prospects -- both business and financial. Although we believe that our plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, acquisitions, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to BoxScore Brands, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
