First Canadian Graphite Inc. (TSXV: FCI | OTC: GBMIF | FRANKFURT: BR20) announced the appointment of Michael Iverson to its Board of Directors, effective immediately. Iverson brings over two decades of leadership experience in the resource sector, having founded Niogold Mining Corp. and co-founded Fortuna Silver Mines Inc. He served in senior executive roles including Chairman, Chief Executive Officer, and President through 2016, and has held various executive positions with Volcanic Gold Mines Inc. since 2007.
Iverson's expertise is expected to be instrumental as First Canadian Graphite advances its flagship Berkwood Graphite Project in northern Quebec. The company recently reported a 43-101 Resource Estimate of 3.2 million tonnes of indicated and inferred graphite, averaging grades of 17%. With increasing global demand for graphite as a critical material for energy storage and advanced technologies, the company aims to expand the resource through drilling and exploration, execute a Preliminary Economic Assessment (PEA), and move toward production.
John LaGourgue, CEO of First Canadian Graphite, stated, "The FCI Team is thrilled to welcome Mike to the Board. He brings extensive experience and a proven track record of building successful resource companies, particularly in Québec, as well as driving shareholder value." Iverson commented, "I am honoured to join the Board of First Canadian Graphite at such an exciting time. 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."
At Niogold, Iverson led the acquisition and exploration of a significant land package in Val-d'Or, Québec, positioning the company for its acquisition by Oban Mining Corp. (now Osisko Mining Inc.) at a substantial premium. At Fortuna, he played an integral role in the company's evolution into an established silver producer with operating mines in Peru and Mexico. Over his career, Iverson has raised, invested, and co-invested more than $100 million in companies he has led and advised, and companies where he served as CEO and/or director achieved aggregate market capitalizations exceeding $1 billion.
The company also announced the resignation of Brijender (Binny) Jassal from the board of directors, effective immediately. Jassal, who has been a dedicated director since 2017, will continue as Chief Financial Officer. First Canadian Graphite continues to focus on advancing its graphite projects to supply high-quality graphite to meet increasing demand from battery, energy storage, and advanced manufacturing markets. The company acknowledges that its Berkwood Project is located within the traditional territory of the Pessamit Innu First Nation and is committed to fostering respectful, transparent, and collaborative relationships with local Indigenous communities.
For more information on First Canadian Graphite Inc., visit www.firstcanadiangraphite.com.
