Lightbridge Corporation thanks Kathleen Kennedy Townsend for her services as director
RESTON, Va., Aug. 30, 2021 (GLOBE NEWSWIRE) – Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel technology company, announced today that the Honorable Kathleen Kennedy Townsend, Rock Creek Group director and Lieutenant Governor of Maryland of 1995 to 2003, will step down from the Board of Directors of Lightbridge effective today.
“Kathleen has been a key member of the board of directors for the past eight years, including serving as Chair of the Audit Committee. I would like to thank Kathleen for her valuable advice, great contributions, and unwavering support for Lightbridge, ”said Seth Grae, President and CEO of Lightbridge. “On behalf of our board of directors, we wish Kathleen the very best in her important new endeavor as she joins the Biden administration at the Department of Labor.”
Ms. Townsend has a long track record in the public and private sectors. She was the first woman lieutenant governor of the State of Maryland. She was in charge of a multibillion dollar budget and oversight of key cabinet departments. Prior to her election in 1995, Ms. Townsend served in the United States Department of Justice as the United States’ Deputy Assistant Attorney General. She led the planning to deploy 100,000 police officers to communities and launched the Police Corps, a college scholarship program for young people who pledge to serve as police officers for four years after graduation. Ms. Townsend was also a managing director at Rock Creek Group, an investment advisor based in Washington, DC. Early in her career, Ms. Townsend was the founder and director of the Maryland Student Service Alliance.
Ms. Townsend is a graduate of Harvard University and a law degree from the University of New Mexico. She has received 12 honorary doctorates. A member of the Maryland, Connecticut, and Massachusetts Bar Association, she is also a certified broker-dealer and writer.
About Lightbridge Corporation
Lightbridge (NASDAQ: LTBR) is an advanced nuclear fuel technology development company focused on enabling carbon-free energy applications essential to preventing climate change. The company is developing Lightbridge Fuel ™, a proprietary next generation nuclear fuel technology for small modular reactors, as well as existing light water reactors, which will greatly improve reactor safety, economy and resistance to fuel proliferation. To date, Lightbridge has received two awards from the US Department of Energy’s Gateway for Accelerated Innovation in Nuclear program for supporting the development of Lightbridge Fuel ™. Lightbridge’s innovative fuel technology is supported by an extensive global patent portfolio. Lightbridge is included in the Russell Microcap® Index. For more information, please visit: www.ltbridge.com.
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Except for historical matters, the matters discussed herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the timing and outcome of research and development, other moves toward commercialization of Lightbridge Fuel ™, and future ones government support and financing of nuclear energy. These statements are based on current expectations as of the date of this press release and involve a number of risks and uncertainties that could cause actual results to differ materially from those estimated. Risks include, but are not limited to: the company’s ability to commercialize its nuclear fuel technology; the degree of market acceptance of the company’s product and service offerings; the company’s ability to fund general corporate overheads and external research and development costs; Market competition; our ability to attract and retain qualified employees; Dependence on strategic partners; Demand for fuel for nuclear reactors, including small modular reactors; the company’s ability to effectively manage its business in a rapidly evolving market; the availability of nuclear test reactors and the risks associated with unexpected changes in the company’s fuel development schedule; the increased costs associated with metallizing our nuclear fuel; public perception of nuclear energy in general; Changes in the political environment; Risks related to the further spread of COVID-19, including the eventual impact of COVID-19 on people, economies, and the company’s ability to access capital markets; Changes in the laws, rules and regulations governing the company’s business; Development and use of our intellectual property and challenges to our intellectual property; Risks associated with potential shareholder activism; potential and contingent liabilities; and other factors described in Lightbridge’s filings with the Securities and Exchange Commission. Lightbridge assumes no obligation to update or revise such forward-looking statements, whether as a result of new developments or for other reasons, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.
For a further description of the risks and uncertainties, please see Lightbridge’s Annual Report on Form 10-K for the year ended December 31, 2020 and its other filings with the Securities and Exchange Commission, including the sections headed “Risk Factors.” and “Forward-Looking Statements,” all available at http://www.sec.gov/ and www.ltbridge.com.
Investor Relations Contact:
Matthew Abenante, IRC
Investor Relations Director
Tel: +1 (646) 828-8710