First Phosphate Corp. (CSE:PHOS) has appointed corporate finance veteran Jérôme Cliche as its new vice-president, business development.
Cliche is the co-founder of Renmark Financial Communication, a reputable Montreal-based company that provides a range of integrated services to companies of various sizes, including those trading on major North American stock exchanges.
"I am very happy to join the team of this excellent electrification project and to have a significant impact of the development of its business," Cliché said in a statement.
John Passalacqua, CEO of First Phosphate, told shareholders that Cliche's years of business experience will be “essential” to the company as it expands its business development program.
As part of the appointment, First Phosphate issued 338,462 restricted share units to Cliche. The RSUs will vest in four tranches, with 25% vesting immediately, and an additional 25% vesting after each of three, six and nine months from issuance.
Furthermore, the company granted 150,000 stock options to Cliche over the next 12 months, with an exercise price of $0.70 per common share.
First Phosphate holds over 1,500 square kilometres of land claims in the Saguenay Region of Quebec, Canada that it is actively developing. The mineral exploration and development company is fully dedicated to extracting and refining advanced phosphate material for the Lithium Iron Phosphate Battery industry.