Far Resources Grants Stock Options and Discusses Contributions from its Advisory Board Members

VANCOUVER, British Columbia, Feb. 05, 2020 (GLOBE NEWSWIRE) -- Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) is happy to announce the granting of stock options for key, non-management personnel including Lee Wheelbarger and Roger Wagner of Electric Blue Power, LLC (EBP), who have both become leading contributors in the company’s pursuit of battery-related technology development, and invaluable members of Far’s advisory team.

Toby Mayo, President of Far, stated: “The last few weeks have been very exciting for Far as Lee Wheelbarger and his team have advanced the first product in our battery technology division to the point of pre-commercial testing. Lee has been involved in similar testing programs in the past for several stringent military and civilian contractors. Both Lee and Roger have been invaluable to the company since their introduction. This option grant solidifies our partnership with these individuals as we grow shareholder value together.”

Along with managing our joint venture in the advancement of battery technologies, Wheelbarger and Wagner are both providing their specific expertise as special advisors to Far, helping us develop the company’s battery metals strategy.

Lee Wheelbarger, the Chief Technology Officer for EBP, is responsible for the invention of all products entering our research and development programs and, subsequently, subjecting those products to intensive testing prior to commercialization. For instance, the recently announced VAB Controller, a control system designed for use in a variety of vehicles, vessels, installations and equipment exposed to very low temperatures, has been developed by Wheelbarger within our JV, and is currently entering the fast-tracked pre-commercial testing phase (see press release dated 22 January 2020 and 30 January 2020).

Lee has over thirty years experience in research, development, test and evaluation (RDT&E) of battery-centered, high-reliability hybrid power systems and electronics, including cutting-edge systems for critical infrastructure, military and marine applications. He is responsible for dozens of patents and inventions. He led the testing and integration of the first battlefield-ready “MilSpec” hybrid battery-generator system, and subsequently oversaw the design and testing of mobile auxiliary battery-based systems that have been successfully installed in hundreds of police, emergency and utility vehicles. He designs and consults on hybrid solar generator systems and battery storage using best-of-breed lithium batteries to provide reliable power for critical infrastructure, mobile power and telecommunications applications. He is also managing a project to test sustained solar-battery propulsion and auxiliary power for vessels, the Far-sponsored Electric Blue Research Vessel.