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Northern Graphite Corporation (TSXV: NGC) (OTC Pink: NGPHF) (the "Company" or "Northern") is pleased to announce that it has retained Hugues Jacquemin to act as a Special Advisor to the Board on matters relating to development of the Company's Bissett Creek graphite project, management and operation of assets being acquired from subsidiaries of Imerys Group ("Imerys") (see December 2, 2021 announcement), and the evaluation of opportunities to expand the Company's business through acquisitions, joint ventures and strategic partnerships.
Hugues has over 30 years of senior management experience in a number of diverse industries including graphite mining and processing, lithium ion and other battery materials, fuel cells and hydrogen production, graphene and carbon nanotubes, graphite and carbon materials including carbon black and carbon and glass fibre composites. Hugues was previously Chief Executive Officer of the Graphite and Carbon Division of Imerys and acted as an independent expert for NINE58 Advisors, an arm's length investment advisory firm based in the United Kingdom which advised Northern on the acquisitions from Imerys.
Gregory Bowes, CEO commented that "Northern is very pleased to have retained the services of a very experienced graphite executive such as Hugues who will help guide the Company as we continue to expand and grow. The recent acquisition of assets from Imerys was just the first step in this process."
About Northern Graphite
Northern Graphite is a Canadian company, listed on the TSX-V, that is focussed on becoming a world leader in the production of natural graphite and upgrading mine concentrates into high value products including many critical to the green energy revolution such as electric vehicles, lithium-ion batteries, fuel cells and graphene.
On December 2, 2022 the Company announced that it had entered into binding purchase agreements to acquire the producing Lac des Iles graphite mine in Quebec and the Okanjande graphite deposit/Okorusu processing plant in Namibia from Imerys (the "Transaction").Closing of the Transaction is subject to a number of conditions including approval of the TSX-V, completion of a $20 million equity financing being led by Sprott Capital Partners LP and completion of US$40 million in debt/royalty/stream financing with Sprott Resource Streaming and Royalty Corp.
On completion 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 in politically stable jurisdictions that will enable the Company to significantly expand production to meet growing demand from the EV/battery markets.
Stock Options
Subject to the approval of the TSX Venture Exchange ("TSX-V"), the Board of Directors has approved a grant of stock options to certain directors and officers to purchase a total of 2,225,000 shares of the Company at a price of $0.75 per share. A total of 1,825,000 of these options are exercisable for a period of five years, 300,000 for a period of three years and 100,000 for a period of one year. In addition, 100,000 options have been granted to Company consultants.
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.
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 the Company's intentions to develop the Bissett Creek graphite project and complete the 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 complete the Transaction, 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112132
