07:24 AM EDT, 05/06/2025 (MT Newswires) -- First Nordic Metals ( FNMCF ) overnight Monday announced changes to its board and management and gave an update on its Nasdaq First North Growth Market listing in Sweden.

The company said it appointed Rakesh Malhotra as chief financial officer, succeeding Ross Wilmot who retired on May 1. Malhotra previously served as controller at the company.

Malhotra, with close to 30 years of varied financial experience, has been a CFO for several TSX-listed natural resource companies. He commenced his career working for the audit firm A.F Ferguson & Co. (correspondent for KPMG) and later moved to the Middle East where he worked with the International Bahwan Group of Companies in various senior finance positions.

He also worked as vice president of finance for a private group of service companies based in Toronto from 2001 to 2005 and was the corporate controller and director for the Canadian subsidiary of the US multinational Diebold Nixdorf (DBD) from 2006 to 2018.

"I would like to congratulate Rakesh on his move to CFO from Controller; his extensive financial experience and networks have been instrumental to FNM's launch and ramp-up over the past year," said First Nordic Metals' ( FNMCF ) Chief Executive Officer Taj Singh. "I would also like to thank Ross for his commitment over his many years of service and wish him the best on his very well-earned retirement."

Additionally, the company reported that it was granted an order of exemptive relief by the Canadian securities regulators in British Columbia, Ontario, Alberta, Saskatchewan and Manitoba, effective April 22.

The decision enables it to continue to be classified as a "venture issuer" under Canadian securities laws, despite the listing of its Swedish depositary receipts on the Nasdaq First North Growth Market.