First Phosphate Corp. (CSE:PHOS) announced the appointment of Peter Nicholson to its Board of Directors, following the departure of Marc Branson.
Nicholson, the founder and president of Wealth Creation Preservation & Donation, brings extensive experience in Canadian tax-assisted investments, particularly in the mining sector. He has facilitated over $350 million in client donations through his work with various donors, foundations, and institutions.
"It is my pleasure to welcome Peter to our team," said Laurence Zeifman, chairman of First Phosphate. "His mining and fundraising experience will serve the company well as we progress further in the development of our projects."
Nicholson expressed his enthusiasm for joining First Phosphate, highlighting the company's efforts to advance lithium iron phosphate (LFP) battery production in Quebec's Saguenay-Lac-St-Jean region.
"Critical minerals and downstream processing at home represent mining practices of the future that First Phosphate is pioneering and represent the type of mining innovation that I wish to take forward," he said in a statement.
In conjunction with his appointment, Nicholson has been granted 150,000 restricted share units (RSUs) by the company, vesting in two tranches by February 2025.
Outgoing director Branson, who resigned to focus on his own business commitments, received a commendation from the company for his contributions.
"Marc's work has been foundational in the early-stage development of the company, and we wish him all the best in his future endeavours," Zeifman said.
First Phosphate is focused on the development of phosphate-based materials essential for the LFP battery industry in North America.