Mason Graphite Inc (TSX-V:LLG, OTCQX:MGPHF) has tapped Peter Damouni as its new CEO to help lead the company's pivot to sourcing new investment opportunities.
Damouni has served as executive chairman of the Montreal-based company since January 2021.
According to a statement from Mason Graphite, the company has completed its change of business from a "Tier 2 mining issuer" to a "Tier 2 investment issuer,” which was approved at the special meeting of shareholders in July 2022.
READ: Mason Graphite says two proxy advisory firms recommend vote in favour of agreement with Nouveau Monde Graphite
That means that Mason Graphite’s focus has shifted from its roots as a junior mining company to a company focused on seeking investment opportunities, as evidenced by the entering into the option and joint venture agreement with Nouveau Monde Graphite (TSX-V:NOU) Inc, announced earlier this year.
The company said its strategy is to develop vertical and horizontal integration in the mining industry, with a special focus on industrial and specialty minerals, notably battery-related materials and their by-products.
The firm pledged to achieve its objectives by leveraging the skillset and expertise of the Board of Directors and management to review investment opportunities and adopting a flexible approach to its investments.
As of September 30, 2022, Mason Graphite's investments consisted of nearly 118 million shares of Black Swan Graphene Inc and around $9.7 million in cash or cash equivalents.
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