Foremost Lithium Resource & Technology Ltd. (NASDAQ:FMST) (CSE:FAT) (“Foremost Lithium”, “Foremost” or the “Company”), a North American hard-rock lithium exploration company, today announced the appointment of seasoned finance and accounting executive Sead Hamzagic, CPA, CGA as Chief Financial Officer and Corporate Secretary.
Mr. Hamzagic is a Chartered Professional Accountant, Certified General Accountant, has over 37 years of public practice accounting and financial management experience as a director and/or Chief Financial Officer with multiple public companies listed on Nasdaq, the TSX-V and the CSE – with a particular emphasis on natural resource and mining companies. His experience includes initial public offerings, reverse takeovers and plans of arrangements. Since 2008 he has led his own accounting and consulting practice, providing a full complement of financial services to public and private companies. Sead has served in several diverse industries as Chief Financial Officer, including Wealth Minerals Ltd., a mineral resource company with lithium projects in Chile, Cobra Venture Corp., World Copper Ltd., GoldHaven Resources Corp., Gelum Resources Ltd., Canadian Spirit Resources Inc., and Magnum Goldcorp Inc. Sead was the CFO at Northstar Clean Technologies Inc, where he was instrumental in bringing the Company public on a $12.2 million initial public offering, amongst others.
As Chief Financial Officer of Foremost Lithium, Sead will provide financial leadership to assist in building on the Company’s goal of delivering value to its shareholders through the development of its Lithium Lane properties. His experience in risk management, corporate strategic development, system implementation, regulatory compliance, financial reporting, internal controls and tax will prove invaluable towards strengthening the Company’s financial capabilities.
“On behalf of our board and management team, I would like to welcome Sead to the position – we are privileged to have someone of his caliber and financial skill set serve as our CFO,” said Jason Barnard, President and CEO of Foremost Lithium. “I would also like to thank Bal Bhullar for her contributions as the Company’s most recent CFO in leading us to this point in our growth trajectory, and welcome Sead’s proven capabilities in scaling natural resource and mining companies. His achievements and expertise in financial management of listed companies will help to ensure we are well positioned to execute on our goal to deliver sustainable, long-term value to my fellow shareholders.”
Mr. Hamzagic added: “I am thrilled to be appointed as CFO of such a dynamic company at an exciting inflection point, facing a robust set of catalysts further supported by near-term drilling programs. I look forward to working with Jason, the senior leadership team and the Board as we continue to execute on our strategic and financial objectives.”
In connection with Sead Hamzagic appointment, the Company has now granted him a fully vested stock option to purchase an aggregate of up to 20,000 common shares of the Company at an exercise price of CAD $3.98 common share, expiring five years from the date of grant. The stock option is granted in accordance with the Company’s current Stock Incentive Plan and the policies of the Canadian Securities Exchange.
