Northern Graphite Announces Grant of Options
OTTAWA, ONTARIO--(Marketwired - Jan 12, 2015) - Northern Graphite Corporation (TSX VENTURE:NGC) announces that it has granted options to purchase a total of 500,000 common shares to its five non-executive directors and options to purchase a total of 150,000 common shares to two senior officers of the Company pursuant to the stock option plan approved by shareholders on June 5, 2014. The options are exercisable at any time at a price of $0.70 per share until January 8, 2020. The Company currently has 49,181,281 common shares issued and outstanding and after giving effect to the above grants, 4,200,000 options will be outstanding.
About Northern Graphite Corporation
Northern Graphite is a graphite development and battery technology company whose 100% owned Bissett Creek project is located in eastern Canada. Bissett Creek provides the Company with a natural competitive advantage in the battery technology field as it has the highest percentage of battery grade material, the highest reported yield on conversion to anode material for batteries and a pristine, highly ordered crystal structure that has the potential to improve battery performance. The Company is leveraging these advantages with proprietary coating and purification technologies to make better and lower cost anode materials and to replace the damaging environmental practices currently used in their manufacture.
Bissett Creek is the most advanced new graphite project with a bankable Feasibility Study and its major environmental permit. The Company believes that it has the best location/infrastructure, the lowest capital cost and the highest operating margin of any new graphite project and that it is the only one to have demonstrated it is economic at current prices and at production rates that are unlikely to adversely affect the pricing structure of the industry. Because of Chinese supply problems and the continued rapid growth in new uses such as lithium ion batteries, new western sources of graphite supply are needed.
Additional information on Northern can be found at www.sedar.com and www.northerngraphite.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.
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.
