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Zenyatta Ventures Ltd. (TSXV:ZEN) announced that it has signed a contribution agreement with the Northern Ontario Heritage Fund Corporation (NOHFC).

Zenyatta Ventures Ltd. (TSXV:ZEN) announced that it has signed a contribution agreement with the Northern Ontario Heritage Fund Corporation (NOHFC). Under the agreement, the company will receive a $500,000 grant; it will be used to move the process flow sheet for the Albany graphite deposit forward.

Aubrey Eveleigh, president and CEO of Zenyatta, commented:

We are very pleased to receive recognition and support from the NOHFC Program. The Albany project has the potential to produce an ultra-high purity graphite product that could lead to high-tech, value-added business opportunities to emerge in Ontario. On behalf of our shareholders, I would like to thank NOHFC and MNDM for this important support in developing a one of a kind graphite product targeting the cleantech sector.

About NOHFC:

The Northern Ontario Heritage Fund Corporation (NOHFC) is a crown corporation and development agency of the Ontario government that invests in northern businesses and municipalities. The Northern Innovation Program (Pilot Demonstration & Commercialization Projects) supports the vision of the growth plan for Northern Ontario by supporting the development and commercialization of new and emerging technologies that will contribute to future prosperity in Northern Ontario, and by fostering collaboration and partnerships among the private sector, academic institutions and research institutes. The purpose of this program is to help Northern Ontario businesses reduce the technical and financial risks associated with scaling-up and demonstrating their new and innovative technologies. It is also intended to support them as they ramp-up for commercial production.

Click here to read the full Zenyatta Ventures Ltd. (TSXV:ZEN) press release.

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