OTTAWA, Nov. 20, 2017 (GLOBE NEWSWIRE) — Northern Graphite Corporation (“Northern” or the “Company”) (TSX-V:NGC) (OTCQX:NGPHF) announces that it has increased the size of its previously announced non-brokered private placement to a maximum of 4,600,000 units at a price of $0.45 per unit for gross proceeds of $2.1 million. Each unit will consist of one common share and one half of one common share purchase warrant with each full warrant entitling the holder to purchase one common share at a price of $0.60 per share for a period of two years. The securities to be issued will be subject to a four month hold period from the date of closing and the placement is subject to approval by the TSX Venture Exchange.
This press release is for informational purposes only and shall not be constituted as an offer to sell or the solicitation of an offer to buy the units nor shall there be any sale of the units in any jurisdiction in which such sale would be unlawful.
About Northern Graphite
Northern Graphite is a Canadian company that has a 100% interest in the Bissett Creek graphite deposit located in southern Canada, relatively close to all required infrastructure. Bissett Creek is an advanced stage project that has a Full Feasibility Study and its major environmental permit. Subject to the completion of operational and species at risk permitting, which are well advanced, Northern could commence construction in 2018 pending financing. The Company believes Bissett Creek has the highest margin, best flake size distribution and lowest marketing risk of any new graphite project, and has the added advantages of low capital costs and realistic production levels relative to the size of the market.
Gregory Bowes, B.Sc. MBA, P. Geo., a Qualified Person as defined under NI 43-101, has reviewed and is responsible for the technical information in this press release.
This press release contains forward-looking statements, which can be identified by the use of statements that include words such as “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “likely”, “will” or other similar words or phrases. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. The Company does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.