Big North Graphite Announced Increase and Closure of Private Placement For $991,810

 Big North Graphite Corp. (TSXV:NRT) announced an increase in its non-brokered private placement offering. It closed on 14,168,712 units for proceeds of $991,810.

As quoted in the press release:

Each unit will consist of a common share and one half of one share purchase warrant, (one whole common share purchase warrant a “Warrant”), with each Warrant entitling the holder to acquire one common share at a price of $0.12 per share for 2 years following the closing.

Big North Graphite Corp. President and CEO, Spiro Kletas said:

We are pleased that the private placement has been over-subscibed allowing the Company to fast-track the advancement of its portfolio of assets for Big North shareholders.. Furthermore, fast-tracking the recently acquired amorphous graphite assets in Mexico puts the Company in a unique position to take advantage of what is the largest segment of the natural graphite market, with Big North being one of only a few companies pursuing this segment of the market.

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