Pure Energy Minerals, Board of Directors Restructuring and Signing of Lithium Project Royalty Agreement with SLB

TechubNews · 2026-03-07T16:52:18+00:00

Pure Energy Minerals announces that board member Daniel Barnoski has resigned, William Morton has been appointed as the new Chairman and elected as CEO, and the board members have been adjusted with new members appointed to promote the company's development. The company has secured a 3% net smelter royalty and is collaborating with Schlumberger to advance clean energy projects.

TechubNews

2026-03-07 16:52:18

Abstract generation in progress

Pure Energy Minerals announces that, effective March 6, 2026, Board Member Daniel Banoski has immediately resigned from the Board of Directors. William Morton expressed gratitude for his past contributions and wished him success in his future endeavors.

Pure Energy announced the results of its annual shareholders’ meeting held on December 19, 2025. All resolutions were approved, with 10,700,467 shares voting, representing approximately 31.50% of the issued shares. William Morton was newly appointed as a director, and the Board will consist of five members. Baker Tilly WM LLP was reappointed as auditor, and the new long-term incentive plan was approved.

Effective November 24, 2025, William Morton was appointed President and CEO of Pure Energy Minerals. He has professional experience at WL Ross & Co. and has overseen clean energy infrastructure funds. Morton holds degrees from Yale University and Columbia Law School. The Board has accepted Joseph Mulin’s resignation from his roles as CEO and director, effective November 20, 2025. Morton was granted 364,228 stock options with an exercise price of $0.30 per share, expiring on November 20, 2030.

Additionally, Pure Energy Minerals appointed Camm Hodge, Senior Vice President of Schlumberger, to the Board. He is responsible for leading Schlumberger’s New Energy platform, including technologies such as carbon capture, hydrogen, and geothermal. Patrick Galleti will step down from the Board.

Pure Energy appointed Hong Yu Wei to the Board, who currently represents Lithium X Corp. He has over 15 years of experience in management, investment, and consulting, and serves as Vice President of EVE Energy. He holds a Chartered Financial Analyst designation and will succeed Mao Yuan Kai in the Board.

Mary Little resigned from the Board on October 21, 2024, and will continue to serve as a company advisor. CEO Joseph Mulin emphasized that Little’s leadership has enabled the company to advance the lithium brine project in Clayton Valley, Nevada.

Schlumberger has satisfied the conditions to acquire ownership of the Clayton Valley lithium brine project in Nevada, and Pure Energy will receive a 3% net smelter return royalty. CEO Joseph Mulin stated he is pleased to collaborate with Schlumberger to contribute to the development of clean energy technologies.

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