TORONTO, ONTARIO--(Marketwired - Sept. 12, 2016) - Great Lakes Graphite Inc. ("GLK" or the "Company") (TSX VENTURE:GLK)(OTC PINK:GLKIF)(FRANKFURT:8GL) today announces that the Company has received two (2) new purchase orders from a Canadian-based technology development firm. The purchase orders represent the Company's first commercial sale of a high purity micronized natural flake graphite product and secondly, the Company's first customer in the avionics sector. The Company believes that these developments are notable to the extent that they represent the progress being made on transitioning the Company to a commercial enterprise.
Great Lakes Graphite CEO Paul Gorman said, "We are excited to be working with our first customer in the avionics sector and are extremely encouraged by the feedback that we continue to receive as we make our initial forays into the growing, value-add graphite market. While they have asked us to keep the specifics about the application confidential, what we can say is that the customer is seeking a source of consistently high quality, high purity micronized flake graphite for a demanding technological application."
Senior Vice President of Sales Mike Coscia added, "Graphite products are priced across a broad spectrum based on quality, the amount of engineering required and other considerations. High technology applications require premium value material due to their exacting size and purity requirements. In this instance, the customer is looking for chemistries that requires extremely small particle size and extremely high purity. Based on the terms of this sale and discussions with this customer and other prospects who are qualifying this material, we anticipate pricing for this specific material to average US$3,500 per ton."
About Great Lakes Graphite: Great Lakes Graphite Inc. is an industrial minerals company focused on bringing value-added carbon products to a well-defined market.
The Company is party to an agreement for shared use of a portion of an industrial facility located in Matheson, Ontario owned by Northfil Resources Limited, as well as for supply of high quality natural graphite concentrate (see news release dated 03/23/15), which have positioned Great Lakes Graphite to become an emerging domestic manufacturer and supplier of micronized products to a growing regional customer base where pricing and demand continue to rise.
Further information regarding Great Lakes can be found on the Company's website at: www.GreatLakesGraphite.com.
Great Lakes Graphite trades with symbol GLK on the TSX Venture Exchange and currently has 117,561,978 shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward Looking Information: Certain statements in this press release may constitute "forward looking information" which involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this press release, such forward looking information may use such words as "may'', "will'', "expect'', "believe'', "plan'' and other similar terminology. Forward looking information is provided for the purpose of presenting information about management's current expectations relating to the future events and the operating performance of the Company, and readers are cautioned that such information may not be appropriate for other purposes. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the ability of the Company to fulfill the orders and future orders, regulatory requirements, general economic, market or business conditions and future developments in the sectors of the economy in which the business of Great Lakes operates. The foregoing list of factors is not exhaustive. Please see the Company's financial statements, MD&A and other documents available on www.sedar.com, for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.