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Northern Graphite Corporation (TSXV: NGC) (OTC Pink: NGPHF) (the "Company" or "Northern") is pleased to announce that trading in the Company's common shares on the TSX Venture Exchange (the "TSX-V") will resume with the open of market on Thursday, January 27, 2022. Trading was halted following the Company's December 2, 2021 announcement that it had entered into binding purchase agreements to acquire the producing Lac des Iles graphite mine in Quebec and the Okanjande graphite depositOkorusu processing plant in Namibia from subsidiaries of Imerys Group (the "Transaction").
The Transaction is a considered a "Fundamental Acquisition" pursuant to the policies of the TSX-V and, accordingly, the common shares were halted from trading pending their review of related documentation. Closing of the Transaction is still subject to a number of conditions including approval of the TSX-V, completion of US$40 million in debt/royalty/stream financing with Sprott Resource Streaming and Royalty Corp. and completion of the Company's previously announced $20 million private placement being led by Sprott Capital Partners LP. The Company anticipates that the equity financing will be oversubscribed and that the over allotment option will be exercised.
As a result of the Transaction, Northern will become the only North American and the world's third largest non Chinese graphite producing company. In addition, Northern will have two large scale development projects which will enable the Company to significantly expand production to meet growing demand from the EV/battery markets. All deposits are located in politically stable jurisdictions with good access to North American and European markets.
This press release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States.
About Northern Graphite
Northern Graphite is a Canadian company, listed on the TSX Venture Exchange, that is focussed on becoming a world leading producer of natural graphite and on the upgrade of mine concentrates into high value products critical to the green energy revolution including electric vehicles, lithium-ion batteries, fuel cells and graphene, as well as advanced industrial technologies.
For additional information
Please visit the Company's website at https://www.northerngraphite.com/investors/presentation/, the Company's profile on www.sedar.com, contact Gregory Bowes, CEO (613) 241-9959 or visit our Social Channels.
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This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward- looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements in this release include statements regarding, among others: the statements regarding the expected timing for lifting of the trading halt imposed on the Company's common shares; the Company's intentions to complete the Transaction and related financings;; and the Company's market position post-Transaction. All such forward-looking statements are based on assumptions and analyses made by management based on their experience and perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. However, these statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected including, but not limited to, the inability to successfully market the Subscription Receipts, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of other parties to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure and the failure of ongoing and contemplated studies to deliver anticipated results or results that would justify and support continued studies, development or operations. Readers are cautioned not to place undue reliance on forward-looking information or statements.
Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
Neither the 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.
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111683
181,057,000 € 20%-30% 40-50% 30% Figure 1 – Financing Plan and Structure
