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Completes Issuance of Shares in Payment for Advisory Fees
This document corrects and replaces the press release that was issued by Northern Graphite Corporation earlier today. The error occurred in the body where the paragraph headed “Payment of Advisory Fees” occurred twice. No other changes were required in the body of the release.
Ottawa, Ontario--(Newsfile Corp. - August 2, 2022) - Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG) (the "Company" or "Northern") is pleased to announce the appointment of Marco Zvanik B.Sc as Vice President of Global Sales. Marco has 35 years of sales, management and operational experience in the composite material, carbon fiber, nanomaterial and wind energy manufacturing industries. He has created, implemented and managed global commercial teams for start-up, mid-cap and Fortune 500 companies with a focus on delivering value for both his customers and their businesses. Mr. Zvanik received his B.Sc degree in Ocean Engineering in 1986 from Texas A&M University.
Mr. Zvanik will oversee all global commercial activities for Northern. Sales Managers in North America and Europe will report to Marco with respect to marketing production from the Lac des Iles and Namibian graphite mines and he will be intimately involved in developing new markets for value added industrial products and lithium ion battery anode materials.
Marco Zvanik commented, "I am extremely excited to be joining Northern at this important time as we implement our strategy to become the world's leading graphite producer and processor. By supporting both current and future customers that require critical materials such as graphite, we will enable them to transform new industries such as the lithium ion battery market for electric vehicles."
"Marco is exactly the person we were looking for in this role as we continue to grow and transform into a world leading global graphite company," said Northern CEO Hugues Jacquemin. "By leveraging his global experience, combined with a deep understanding of the specialty materials industry, he will make a big difference for our customers and our company by helping to provide complete solutions to the market."
Payment of Advisory Fees
The Company also announces that it has completed the previously announced issuance of 700,000 common shares of the Company to NINE58 Advisors ("NINE58"), an arm's length investment advisory firm based in London, United Kingdom, at a deemed price of US$0.60 (approximately C$0.78) per share as payment for US$420,000 (approximately C$546,000) in advisory fees owed to NINE58. The common shares are subject to a four month hold period expiring November 28, 2022.
About Northern Graphite
Northern is a Canadian, TSXV listed company that is focused on becoming a world leader in producing natural graphite and upgrading it into high value products critical to the green economy including anode material for LiBs/EVs, fuel cells and graphene, as well as advanced industrial technologies.
Northern is the only significant graphite producing company in North America and will become the third largest outside of China when its Namibian operations come back online in the first half of 2023. The Company also has two large scale development projects, Bissett Creek in Ontario and Okanjande in Namibia, that will be a source of continued production growth in the future. All projects have "battery quality" graphite and are located close to infrastructure in politically stable countries.
For additional information
Please visit the Company's website at http://www.northerngraphite.com/investors/presentation/, the Company's profile on www.sedar.com, our Social Channels listed below or contact the Company at (613) 241-9959.
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 Company's intentions with respect to bringing its Namibian operations back on line and to advancing its developments projects to production, and developing the capacity to manufacture value added products. 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 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/132470