Great Lakes Graphite Announces Repeat Purchase Orders From U.S. Industrial
TORONTO, ONTARIO--(Marketwired - Aug 31, 2016) - Great Lakes Graphite Inc. ("Great Lakes", "GLK" or the "Company") (TSX VENTURE:GLK)(OTC PINK:GLKIF)(FRANKFURT:8GL) today announces that five repeat purchase orders have been received from the large, Texas-based industrial company who placed two purchase orders for micronized synthetic graphite products earlier this year. Each purchase order specifies twenty tonnes of material and takes the number of orders that Great Lakes has now received from this customer to a total of seven, representing one hundred and forty tonnes of graphite products.
Great Lakes CEO Paul Gorman commented, "We have spent the last few months working closely with this particular customer to develop a solution with the required performance characteristics. By working closely and creatively with our partners, we have been able to fulfill the first four purchase orders and we have delivered eight tonnes of material to date, or as packaged, roughly thirty-two hundred 50-pound bags. Ongoing fulfillment of orders for this customer will continue to be accomplished by working with our partners. Production activities will in time transition to the Matheson facility and that changeover is expected to take place over the coming weeks."
Mike Coscia, Sr. Vice President of Sales added, "We are getting underway and are making steady progress in building the foundation that will enable us to manufacture products and address customer requirements. Successful contingency planning has made it possible to keep moving forward, even as we work to address the inevitable challenges that come up during any project of this size."
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.
Contact
Great Lakes Graphite Inc.
Paul Ferguson
Chief Marketing Officer
PFerguson@GreatLakesGraphite.com
1-800-754-4510 x106
Great Lakes Graphite Inc.
Paul Gorman
Chief Executive Officer
PGorman@GreatLakesGraphite.com
1-800-754-4510 x109