Northern Graphite Corporation
TSX VENTURE : NGC

Northern Graphite Corporation

December 18, 2015 16:14 ET

Northern Graphite Announces Cancelation of Options

OTTAWA, ONTARIO--(Marketwired - Dec. 18, 2015) - Northern Graphite Corporation (TSX VENTURE:NGC) (the "Company") announces the voluntary cancelation of 500,000 stock options held by non-executive directors. The Company has a total of 51,284,279 common shares and 1,177,679 share purchase warrants issued and outstanding and 3,800,000 options after giving effect to the above cancelation.

About Northern Graphite Corporation

Northern is a graphite development and battery technology company whose Bissett Creek deposit is located in eastern Canada. Bissett Creek provides a natural competitive advantage in the lithium ion battery field as it has a high percentage of battery grade material, a high yield on the conversion of mine concentrate to anode material, and a pristine, highly ordered crystal structure that results in less costly purification and higher capacity batteries. The Company is leveraging these advantages with proprietary, environmentally sustainable coating and purification technologies to make better and lower cost anode materials and to replace the environmentally damaging practices currently used in their manufacture.

Bissett Creek is an advanced stage project that has a Feasibility Study and its major environmental permit. The Bissett Creek project has good location/infrastructure, a high percentage of large/XL/XXL flake, a reasonable capital cost and the highest operating margin of any proposed graphite project. Because of Chinese supply issues and the continued rapid growth in new uses such as lithium ion batteries, new western sources of supply will be needed, particularly for large/XL /XXL flake graphite.

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.

Contact Information

  • Northern Graphite Corporation
    Gregory Bowes
    CEO
    (613) 241-9959

    Northern Graphite Corporation
    Stephen Thompson
    CFO
    (613) 241-9959
    www.northerngraphite.com