03:34:38 EDT Mon 06 May 2024
Enter Symbol
or Name
USA
CA



Avalon Advanced Materials Inc
Symbol AVL
Shares Issued 560,373,603
Close 2023-10-20 C$ 0.11
Market Cap C$ 61,641,096
Recent Sedar Documents

Globe says Avalon's Syed has a controversial history

2023-10-23 07:58 ET - In the News

The Globe and Mail reports in its Saturday edition that Zeeshan Syed, a former Alberta Energy Regulator (AER) executive who was engulfed in a public sector spending scandal in Alberta four years ago, welcomed two Liberal cabinet ministers to the Thunder Bay site of his junior mining company's proposed lithium refinery last week, and is optimistic he can attract taxpayer funding for the venture. The Globe's Niall McGee writes that the visit, which was widely publicized by Mr. Syed's company to attract media and investor attention, saw both François-Philippe Champagne, the Federal Industry Minister, and Patty Hajdu, Indigenous Services Minister, heap praise on his struggling penny-stock mining company, Avalon Advanced Materials. In 2019, Mr. Syed was censured by Alberta's Auditor-General, and the province's ethics commissioner, for financial mismanagement during his tenure at AER. The allegations included profligate spending of public-sector funds, secretly setting up a for-profit venture within the public-sector entity and working with AER chief executive officer Jim Ellis to make sure they both would profit from it handsomely. In an interview, Mr. Syed dismissed the AER controversy as insignificant and inconsequential.

© 2024 Canjex Publishing Ltd. All rights reserved.