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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported) March 1, 2024
UNITED STATES ANTIMONY CORPORATION |
(Exact name of registrant as specified in its charter) |
Montana |
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001-08675 |
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81-0305822 |
(State or other jurisdiction |
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(Commission |
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(IRS Employer |
of incorporation) |
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File No.) |
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Identification Number) |
P.O. Box 643 Thompson Fall, MT |
59873 |
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(Address of principal executive officers) |
(Zip Code) |
Registrant’s telephone number, including area code: (406) 827-3523
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: |
Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
Common Stock, $0.01 par value |
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UAMY |
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NYSE American |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 4, 2024, United States Antimony Corporation (NYSE: UAMY) (“USAC” or the “Company”) issued a press release announcing changes with the executive level management of the Company. These executive management changes are effective March 1, 2024. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Mr. John (Gus) Gustavsen, age 75, has been appointed President of the Company’s Antimony Division and he has relinquished his title as CEO of the Company.
The Board of Directors has asked two existing board members to serve as Co-CEO’s and Co-PEO’s of the Company:
Joe Bardswich, age 79, Co-CEO & Director
Gary C. Evans, age 66, Co-CEO & Chairman of the Board
Neither Mr. Bardswich nor Mr. Evans are receiving any cash compensation for their new roles at the Company. However, the Board has granted them time-based equity compensation, which was awarded at the Company’s stock price on the grant date.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit No. |
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Description |
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Press release dated March 4, 2024, announcing Executive Management Changes. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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UNITED STATES ANTIMONY CORPORATION |
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March 4, 2024 |
By: |
/s/ Richard R. Isaak |
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Richard R. Isaak SVP, Chief Financial Officer |
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EXHIBIT 99.1
U.S. Antimony (UAMY) Announces
Executive Management Changes
THOMPSON FALLS, MT / ACCESSWIRE / March 4, 2024 / United States Antimony Corporation ("USAC"), (NYSE: UAMY) announced today changes with the executive level management of the Company. These executive management changes are effective March 1, 2024.
Mr. John (Gus) Gustavsen has been appointed President of the Company’s Antimony Division and he has relinquished his title as CEO of U.S. Antimony Corporation. The Company is continuing its operations and business activities in Thompson Falls, Montana, where Mr. Gustavsen resides. This location is the only North American producer of Antimony products, including antimony oxide, antimony metal, and antimony tri-sulfide. Antimony is used in munitions (lead hardening for bullets and primer production), flame retardants, semiconductors, and batteries. Mr. Gustavsen is considered one of the nation’s leading experts in the field of Antimony.
The Board of Directors has asked two existing board members to serve as Co-CEOs while the company continues to streamline its business, rid itself of unprofitable operations, and pursue certain expansion efforts which may include acquisitions. The new positions are as follows:
Joe Bardswich – Co-CEO & Director
Gary C. Evans – Co-CEO & Chairman of the Board
Neither Mr. Bardswich nor Mr. Evans are receiving any cash compensation for their new roles at the Company. However, the Board has granted them time-based equity compensation, which was awarded at the Company’s stock price on the grant date.
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About USAC:
United States Antimony Corporation and its subsidiaries in the U.S. and Mexico (“US Antimony”, “USAC”, the “Company”, “we”, “us”, and “our”) sell processed antimony, precious metals, and zeolite products in the U.S. and abroad. The Company processes antimony ore in the U.S. and Mexico primarily into antimony oxide, antimony metal, and antimony trisulfide at its facilities in Montana and Mexico. Our antimony oxide is used to form a flame-retardant system for plastics, rubber, fiberglass, textile goods, paints, coatings and paper, as a color fastener in paint, and as a phosphorescent agent in fluorescent light bulbs. Our antimony metal is used in bearings, storage batteries, and ordnance. Our antimony trisulfide is used as a primer in ammunition. In its operations in Idaho, the Company mines and processes zeolite, a group of industrial minerals used in soil amendment and fertilizer, water filtration, sewage treatment, nuclear waste and other environmental cleanup, odor control, gas separation, animal nutrition, and other miscellaneous applications.
Forward-Looking Statements:
Readers should note that, in addition to the historical information contained herein, this press release may contain forward-looking statements within the meaning of, and intended to be covered by, the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon current expectations and beliefs concerning future developments and their potential effects on the Company including matters related to the Company's operations, pending contracts and future revenues, financial performance, and profitability, ability to execute on its increased production and installation schedules for planned capital expenditures, and the size of forecasted deposits. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-K and Form 10-Q with the Securities and Exchange Commission.
Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “pro forma” and other similar words and expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in the forward-looking statements and future results could differ materially from historical performance.
Contact:
United States Antimony Corp.
PO Box 643
47 Cox Gulch Rd.
Thompson Falls, Montana 59873-0643
406-606-4117
E-Mail: info@usantimony.com
Source: United States Antimony Corporation
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