Skip to content

March 27, 2024

LiTHOS Strengthens Executive Team with Strategic Promotions and Key Hires

DENVER, March 27, 2024 /CNW/ – LiTHOS Group Ltd. (“LiTHOS” or the “Company”) (CBOE CA: LITS), expands its executive team to support its operational and strategic initiatives. The promotion of Joe Fuqua to Chief Operating Officer (“COO”) and corporate secretary and the appointments of Michael Westlake as President, and Gabe Segal as Vice President – Strategy & Finance are key steps in aligning the company’s leadership with its objectives in the evolving energy sector. These changes reflect our commitment to maintaining leadership in sustainable lithium production and to enhancing our capacity to meet the growing demand for environmentally responsible energy solutions.


Leadership Enhancement for Strategic Goals: The executive team changes, including promotions and new hires, are strategically designed to strengthen our leadership and align with LiTHOS’s long-term objectives in sustainable lithium production.

Expertise and Proven Track Record: The newly appointed executives bring substantial experience and expertise, enhancing our capabilities in operational efficiency, strategic finance, and corporate communications, crucial for our growth and success.

Focus on Sustainable Growth: These changes underscore our unwavering commitment to sustainable growth and innovation in the lithium production industry, addressing the global demand for environmentally responsible energy solutions.

Joseph Fuqua, Chief Operating Officer and Corporate Secretary

LiTHOS is excited to announce the promotion of Joe Fuqua to COO from VP – Corporate Development & Capital Markets as well as his appointment as Corporate Secretary.

Joseph brings over 20 years of experience across technology, entrepreneurship, and institutional capital markets to LiTHOS. He will focus on coordinating operations across the company and how LiTHOS interfaces with strategic partners and capital markets. Before LiTHOS, he spent 9 years in Hong Kong in the private equity and funds space, covering investor relations and raising over US$1.2 billion fundraising from investors across developed markets. Before Hong Kong, he lived in Shanghai, where he co-founded a company that helped international students apply to boarding schools and colleges in the USA. He originally started his career in tech, working in software design for six years with companies in San Francisco and Silicon Valley. Joseph holds a BA in Computer Science from Brown University and an MBA from UCLA Anderson School of Management.

CEO Scott Taylor expressed his excitement about Joe’s promotion: “I’m very happy to have connected with Joseph and worked with him on the growth of LiTHOS over the past year. His range of experience and the strength of his networks will be a great resource for us.”

Michael Westlake, President

Michael comes to LiTHOS with over 20 years of experience managing complex projects, predominantly in remote locations of the Canadian Arctic, which come with major logistical and technical challenges. Of specific relevance is his vast experience managing the remediation of mine and waste sites in northern Canada, where consultation with community and all levels of government was paramount. His background with respect to regulatory frameworks and the application of risk-based decision-making for sustainable and resilient infrastructure systems has been a key driver of project success throughout his career. Westlake holds a B.Sc. in chemistry and environmental studies from the University of Victoria and an M.Sc. in environmental change and sustainability from the University of Edinburgh.

CEO Scott Taylor was quoted, “I’m very excited to have Michael join our team and help lead the company into commercial success. Michael brings many key leadership qualities that will allow us to expedite future growth within our business.”

Gabe Segal, Vice President of Strategy& Finance

LiTHOS is thrilled to announce the hiring of Gabe Segal as VP—Strategy & Finance. Mr. Segal will focus on the Company’s ongoing fundraising efforts, which span public and private investors, government grants, and corporate venture investing. He will also lead numerous other strategic financial initiatives crucial to LiTHOS’s growth and success.

Gabe brings over a decade of experience in private equity, investment banking, and consulting, specializing in energy investments. He has actively participated in the underwriting and due diligence of numerous investments in advisory and principal investor roles. Mr. Segal began his career as a Consultant at PA Consulting, where he provided strategic advice to power & utilities clients. His interest in energy led him to join the Agriculture, Cleantech, and Renewables group at Piper Jaffray (now Piper Sandler), where he advised growth-stage businesses on capital raising and mergers & acquisitions. In his recent position as Vice President at Norwest Mezzanine Partners, Gabe focused on making junior capital investments in middle-market private-equity backed businesses. He holds a Bachelor of Science and a Master of Science in Industrial Engineering from the University of Wisconsin-Madison.

CEO Scott Taylor expressed his enthusiasm about Gabe joining the LiTHOS team, stating, “We are excited to have Gabe join the LiTHOS team. His strategic insights and finance expertise will be invaluable as we collaborate to achieve our ambitious goals.”

Join LiTHOS in extending a warm welcome to Gabe as he embarks on this exciting journey. He looks forward to driving innovation, growth, and success.

About LiTHOS

Lithium is now among one of the world’s most in-demand metals due to aggressive ambitious electrification efforts to limit CO2 emissions. This global demand is underpinned by the adoption of EV’s and the installation of hundreds of gigawatts of intermittent solar power generation capacity requiring partial battery storage solutions.

The Company’s mission is to deliver sustainable lithium production without the use of evaporation ponds. AcQUA™ is LiTHOS’ patent-pending technology that spans the complete value chain from the conditioning and pre-treatment of raw brines through the DLE phase into the polishing and purification of battery grade lithium feedstock. LiTHOS has two fully operational processing facilities: a 4,000 sq ft lab in Denver, CO and a 55,000 sq ft complex in Bessemer, AL.

LiTHOS is working under contract with multiple strategic mineral resource owners and processing brines from the largest Salars in Chile and Argentina, and the Smackover reservoir in the Southeastern United States. Our wholly owned subsidiary, Aqueous Resources LLC, is a US Department of Energy grant awardee and a Colorado Advanced Industries grant awardee.


Scott Taylor ‐ CEO

Forward-Looking Statements: This news release contains certain forward-looking statements within the meaning of Canadian securities legislation, including with respect to: the plans of the Company; the purposed use of funds of the Initial Tranche; and statements relating to the closing of additional tranches of the offering. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forwardlooking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forwardlooking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and involve several risks and uncertainties, including additional tranches of the offering may not close on the terms announced or at all; that the Company may use the proceeds of the Initial Tranche for purposes other than those disclosed in this news release; adverse market conditions; and other factors beyond the control of the Company. Consequently, there can be no assurances that such statements will prove to be accurate, and that actual results and future events could differ materially from those anticipated in such statements.

Important factors that could cause future results to differ materially from those anticipated in these forward-looking statements include: limited operating history; research and development activities; effect of general economic and political conditions; and other risk factors set forth in the Company’s public filings which are available on SEDAR+ at Accordingly, the reader is urged to refer to the Company’s such filings for a more complete discussion of such risk factors and their potential effects. Except to the extent required by applicable securities laws and the policies of Cboe Canada Inc., the Company undertakes no obligation to update these forwardlooking statements if management’s beliefs, estimates or opinions, or other factors should change.

View original content to download multimedia:

SOURCE Lithos Group

View original content to download multimedia:

%SEDAR: 00031668E

For more information please contact:

Canadian LiTHOS Investor Relations Contact:

Oak Hill Financial