MONTREAL, QUEBEC--(Marketwired - March 14, 2017) - Sama Graphite Inc. (TSX VENTURE:SRG) ("SRG" or the "Company") today announced the signature of a consulting agreement with ProGraphite GmbH ("PG") for advanced graphite testwork on the Company's 100%-owned Lola Graphite deposit in the Republic of Guinea, West Africa. Laboratory work and analysis on the Lola Graphite concentrate will include, among others, purification testing, expandability and fraction analysis. A comprehensive final report along with deducible conclusions regarding the potential market and industry applications for the test material is expected in early May 2017. PG is a highly regarded firm with professional expertise in natural graphite and other carbon products that has been acquired during several decades of working in the industry worldwide.
"We called upon the expertise of ProGraphite GmbH mainly because of their cutting-edge testing and graphite characterization methodologies," said Marc-Antoine Audet, President and Chief Executive Officer, SRG, "The results of this advanced testwork will provide our Company with the precise characteristics of our graphite, thereby allowing us to target the most appropriate industry applications for our product."
PG will work in close collaboration with Activation Laboratories Ltd., Ontario ("Actlab"). Previous analysis performed by Actlab on samples from SRG's Lola Graphite deposit, including geochemical, mineralogical and metallurgical testing, yielded excellent results (reference SRG's press release dated February 21, 2017). These tests returned purities of 99.7% and 99.1% graphitic carbon ("Cg") for +48 mesh (>0.31 millimeters ("mm") and the -48+80 mesh (between 0.18 mm and 0.31 mm), respectively using a light caustic acid wash (10% concentration). The majority of the concentrate, 89%, is made up of flake sizes greater than 0.18 millimeters. Super-jumbo flakes (>0.50 mm) account for 29% of the concentrate with purities of 96.6% and 95.9% Cg obtained using the basic floatation process.
SRG also announced that it has entered into a consulting agreement with Contact Financial Corp. ("Contact") to provide investor relations and communication services, subject to TSX Venture Exchange (the "Exchange") approval. The Company has selected Contact as an experienced arm's length firm to share Sama Graphite's compelling story with brokers, analysts and portfolio managers.
Contact is a broad-based strategic marketing and communications firm with experience in creating exposure for small- to mid-cap companies. Contact Financial headed by Kirk Gamley, is based in Vancouver, British Columbia, with core strengths in Vancouver, Montreal and affiliates in Europe. Contact's services will include providing advice to the Company with respect to corporate development, production and distribution of investor-focused communication tools, and increasing awareness of the Company within the financial community.
Contact has been retained for an initial term of three (3) months, with service to be provided on a month-to-month basis thereafter. Contact will be paid a monthly fee of CAN $5,000.00 (plus GST) and has been granted options to purchase up to 200,000 common shares of the Company, with an exercise price of CAN $0.365 per share that shall have a life of 2 years from the date of issue, with vesting restrictions in accordance with TSX Venture Exchange policies.
Other than 650,000 common shares held directly and indirectly by Kirk Gamley and Contact Financial, none of Contact Financial group has any interest, directly or indirectly, in Sama Graphite or its securities, or any right or intent to acquire such an interest, other than the above-referenced proposed stock options.
ProGraphite GmbH is specialized in natural graphite and other carbon products. Based on more than 20 years of professional experience and passion for graphite and carbon, ProGraphite offers expert consultancy for most aspects of natural graphite projects. Furthermore ProGraphite offers a wide range of specialized lab services and extended geological and mineralogical services for graphite and other minerals. ProGraphite is also involved in trading of carbon products. The company is located in Germany. For additional information on ProGraphite: www.pro-graphite.com.
About Contact Financial
Contact Financial is a broad-based strategic marketing and communications firm with experience in creating exposure for small to mid-cap companies. Contact Financial's services include providing advice with respect to corporate development, production and distribution of investor-focused communication tools, and increasing awareness within the financial community. Contact Financial has offices in both Vancouver and Montreal, and is owned by Kirk Gamley. For additional information, please visit Contact's website at www.contactfinancial.com
About Sama Graphite Inc. (SRG)
SRG is a Canadian-based company focused on developing the Lola Graphite deposit, located in the Republic of Guinea, West Africa. SRG is committed to operate in a socially, environmentally and ethically responsible manner.
For additional information, please visit SRG's website at www.srggraphite.com.
This press release contains information that may constitute forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Additional Information identifying risks and uncertainties is contained in the Company's filings with the Canadian Securities regulators, which filings are available at www.sedar.com
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