Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Chief Financial Officer
On January 4, 2021, the Board of Directors of American Battery Metals
Corporation (the "Company") appointed David Corsaut as Chief Financial Officer
of the Company (the "CFO Appointment").
In connection with the CFO Appointment, the Company entered into an employment
agreement with Mr. Corsaut, dated December 29, 2020 (the "CFO Agreement"). The
term of the CFO Agreement is three years. Pursuant to the CFO Agreement, Mr.
Corsaut is entitled to receive an annual salary of $300,000. In addition, Mr.
Corsaut shall be entitled to receive for bonus cash and equity compensation upon
the achievement of certain milestones as set forth in the CFO Agreement. The CFO
Agreement is attached as Exhibit 10.1 to this Current Report and incorporated
herein by this reference.
Mr. Corsaut, age 65, has more than 35 years' experience as a founder, leader,
senior executive, advisor, trustee and financier of businesses in the United
States, Europe, Latin America and Asia. Mr. Corsaut has managed more than 100
successful mergers and acquisitions. Mr. Corsaut was the co-founder of Exxedus
Capital Partners, LLC ("ECP") based in St Louis, a business consulting firm that
receives 95% of its engagements through its extensive referral network. Mr.
Corsaut was the COO of Distribution Services Limited ("DSL"), a $400 million
international logistics/supply chain concern. Mr. Corsaut was a founder and COO
of a global software services ("LMI") company where his responsibilities
included securing equity capital from VC funds for the expansion of the Company.
LMI's customers included Ford, Sony, Mitsubishi, Allen Bradley, CA and
Microsoft. From 2003 to 2005, Mr. Corsaut acted as Trustee for the restructuring
and merger of two publicly traded semiconductor firms. From 1999 through 2009,
Mr. Corsaut was the co-founder and Managing Director of Cloyses Partners, LLC, a
very successful consulting, merchant banking and turnaround firm based in
Denver, CO. From 1987 to 1992, Mr. Corsaut was the Economic Development Advisor
to the city government of Barcelona, Spain and the Spanish Government. Mr.
Corsaut was the lead financier and a Director of a Colorado based real estate
development and residential home builder, Pride-Mark Homes ("PMH"). PMH grew
from annual sales of $15,000,000 to annual sales of over $100,000,000 in 1998.
Mr. Corsaut earned a Bachelor of Science degree from Western Michigan University
and has completed graduate work in accounting, finance and management both in
the U. S. and Europe.
There are no arrangements or understandings between Mr. Corsaut and any other
persons pursuant to which Mr. Corsaut was selected as Chief Financial Officer.
There are no relationships between Mr. Corsaut and the Company that would
require disclosure pursuant to Item 404(a) of Regulation S-K.
Item 9.01 Financial Statements and Exhibits
Filed Incorporated By Reference
Exhibit Description Herein Date Form Exhibit
10.1 Employment Agreement of David Corsaut X
dated December 29, 2020
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