First Canadian Graphite Inc. has appointed Michael Iverson to its Board of Directors, effective immediately, as the company advances its flagship Berkwood Graphite Project in Quebec to meet growing demand for onshore sourced critical minerals. Iverson brings over two decades of leadership in the resource sector, having founded Niogold Mining Corp. and co-founded Fortuna Silver Mines Inc., where he served as Chairman, CEO, and President through 2016. His track record includes raising over $100 million and building companies that achieved aggregate market capitalizations exceeding $1 billion.
Iverson's expertise in public and private equity markets, strategic planning, and corporate governance is expected to bolster First Canadian Graphite's efforts to expand its resource at the Berkwood Graphite Project, which holds a 43-101 Resource Estimate Report revealing 3.2 million tonnes of indicated and inferred graphite averaging grades of 17%. The company is also working toward a Preliminary Economic Assessment (PEA) and eventual production. "Mike will be working closely with management implementing best practices as we expand the resource and assist the move to becoming a leading graphite producer in North America," said CEO John LaGourgue.
Iverson commented on the appointment: "With increasing global demand for graphite as a critical material for energy storage and advanced technologies, the Company is well positioned to expand the current resource through drilling and exploration, execute on a PEA and make the required steps towards production." His experience in Quebec, where Niogold was acquired at a substantial premium, is particularly relevant as First Canadian Graphite continues to develop its project in the region, located within the traditional territory of the Pessamit Innu First Nation. The company is committed to fostering respectful relationships with local Indigenous communities.
In conjunction with Iverson's appointment, Brijender (Binny) Jassal has resigned from the board but will continue as Chief Financial Officer. Jassal served as a dedicated director since 2017, and the board thanked him for his contributions. First Canadian Graphite remains focused on advancing its graphite projects to supply high-quality graphite for battery, energy storage, and advanced manufacturing markets. The company's shares trade on the TSX Venture Exchange under the symbol FCI, on the OTC under GBMIF, and on the Frankfurt Stock Exchange under BR20. More information is available at www.firstcanadiangraphite.com.
