First Canadian Graphite Inc. (TSXV: FCI | OTC: GBMIF | FRANKFURT: BR20) announced the appointment of Michael Iverson to its Board of Directors, effective immediately. Iverson, a seasoned mining executive with over two decades of experience, previously founded Niogold Mining Corp. and co-founded Fortuna Silver Mines Inc. His track record includes leading Niogold through a successful acquisition by Oban Mining Corp. (now Osisko Mining Inc.) at a premium, and playing a key role in Fortuna's evolution into a silver producer with mines in Peru and Mexico.
The appointment comes as First Canadian Graphite focuses on advancing its flagship Berkwood Graphite Project in northern Quebec, which hosts a 43-101 resource estimate of 3.2 million tonnes of indicated and inferred graphite at an average grade of 17%. The company aims to meet growing demand for graphite from battery, energy storage, and advanced manufacturing markets, particularly as North America seeks onshore sources of critical minerals.
CEO John LaGourgue 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. Mike will be working closely with management implementing best practices as we expand the resource at our flagship Berkwood Graphite Project and assist the move to becoming a leading graphite producer in North America.'
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.'
Concurrently, the company announced that Brijender (Binny) Jassal will resign from the board but continue as Chief Financial Officer. Jassal has been a director since 2017, and the board thanked him for his contributions.
Iverson's expertise in capital markets is notable: over his career, he has raised, invested, and co-invested more than $100 million in companies he has led and advised. Companies where he has served as CEO and/or director have achieved aggregate market capitalizations exceeding $1 billion. His appointment is expected to bolster First Canadian Graphite's strategic planning, corporate governance, and access to capital as the company advances the Berkwood project.
The Berkwood Project is located within the traditional territory of the Pessamit Innu First Nation, and the company states it is committed to fostering respectful, transparent, and collaborative relationships with local Indigenous communities.
First Canadian Graphite is positioning itself to supply high-quality graphite to meet increasing demand, with the board strengthening reflecting a strategic push toward production. The company's focus on Quebec aligns with broader North American efforts to secure domestic supply chains for critical minerals used in energy transition technologies.
