Northern Graphite Engages Strategic Advisor
Ottawa, May 14, 2019 - Northern Graphite Corp. (TSXV: NGC) (OTCQX: NGPHF) (the "Company") announces that it has engaged Red Cloud Klondike Strike Inc. ("RCKS") to act as its strategic and financial advisor. RCKS will assist the Company in evaluating and pursuing alternatives for maximizing shareholder value including identifying potential sources of financing and/or corporate partners needed to move the Bissett Creek graphite project forward.
Gregory Bowes, CEO, commented that: "While the supply/demand outlook for graphite is compelling and the Bissett Creek project has good economics even at currently depressed prices, investor interest in the sector has been low for some time which has severely impacted the Company's valuation. The experience and expertise of RCKS will greatly assist the Company in evaluating strategic options for maximizing shareholder value given the current environment."
About Northern Graphite
Northern Graphite is a Canadian development company with a 100% interest in the Bissett Creek graphite deposit which is located in the southern part of Canada with ready access to labour, supplies, equipment and concentrate transportation. The Company has completed a full FS, a PEA which includes a Phase 2 expansion, and has secured its major mining permit. Northern intends to start production at a realistic level to minimize capital costs and the risk associated with introducing a new source of supply into the market. Production will then be expanded as the market grows. The percentage of large/XL flake graphite in the Bissett Creek deposit is one of the highest in the industry which will enable the Company to focus on high margin and value added industrial markets, mainly in the US and Europe.
About Red Cloud Klondike Strike
Red Cloud Klondike Strike Inc. is an exempt market dealer focused on providing unique and innovative financing alternatives, growth opportunities, and market exposure for select mining companies. The Red Cloud Klondike Strike team has a mix of technical and financial expertise with over 100 cumulative years of combined mining and corporate finance experience. Working as an extension of management, the Red Cloud Klondike Strike team uses its global network of mining and capital markets professionals and extensive in-house experience in the many facets of the mining business to help companies identify sources of capital and quality actionable merger, acquisition and divestiture opportunities, and to generate and maintain important relationships with key investors.
Qualified Person
Gregory Bowes, B.Sc. MBA, P. Geo., a Qualified Person as defined under National Instrument 43-101, has reviewed and is responsible for the technical information in this news release.
For additional information, please contact: Gregory Bowes, CEO (613) 241-9959
This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking 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 FS, the PEA, graphite prices, project economics, permitting, the development timeline and the graphite market.
All such forward-looking statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believe are appropriate in the circumstances. These statements, however, 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 in the forward-looking statements 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, the failure of exploration programs, including drilling programs, to deliver anticipated results 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 upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. 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/44779