APPLIED MINERALS, INC. (OTCMKTS:AMNL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On March 13, 2019, the Board of Directors of Applied Minerals, Inc. (the “Company”) appointed Geoffrey G. Scott a director of the Company. The Board of Directors has not yet named Mr. Scott to any of the committees of the Board.
In June 2018, Mr. Scott purchased from the Company for $50,000 625,000 units, each unit consisting of one share of Common Stock and one warrant to purchase one share of Common Stock at an exercise price of $.15 per share. In April 2018, he purchased from the Company 2.5 million shares of Common Stock for a purchase price of $100,000. In March 2018, he purchased from the Company 1,000,000 shares of Common Stock for $50,000.
About APPLIED MINERALS, INC. (OTCMKTS:AMNL)
Applied Minerals, Inc. (Applied Minerals) is an exploration-stage company. The Company owns the Dragon Mine, from which it extracts, processes and markets halloysite clay and iron oxide for sale to a range of end markets. The Company is engaged in the research and development, and works collaboratively with customers to engineer its halloysite clay and iron oxide products. Halloysite, marketed by Applied Minerals under the DRAGONITE trade name, is aluminosilicate clay with a hollow tubular morphology. DRAGONITE utilizes halloysite’s shape, high surface area and reactivity to add functionality to applications, such as plastic composites, flame retardant additives, paints and coatings, catalysts and environmental remediation media. The Company’s Dragon Mine is an approximately 270-acre property located in central Utah, over 70 miles southwest of Salt Lake City, Utah. There are two areas of the Dragon Mine minesite, which include the Dragon Pit area and the Western Area.