Northern Announces Change in Restricted Share Unit Vesting Periods and Stock Option Grant
Northern Announces Change in Restricted
Share Unit Vesting Periods and Stock Option
Grant
Ottawa, Ontario--(Newsfile Corp. - February 12, 2023) - Northern Graphite Corporation
(TSXV: NGC)
(OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG)
(the "
Company
" or "
Northern
"
)
announces that the
vesting period for 1,300,000 restricted share units ("
RSUs
") granted by the Company to certain officers
and employees, and announced on December 20, 2022, were issued subject to time-based vesting of
1/4 of the RSUs on each of the first and second anniversaries of the respective start dates for the
officers and employees with the balance vesting on the third anniversary.
It was originally announced that
1/4 of the RSUs would vest on each of their first, second, third and fourth anniversaries. This change was
made for tax reasons specific to the award of RSUs.
Northern also reports the grant of stock options to an officer of the Company to purchase a total of
200,000 shares of the Company, vesting immediately, for a period of five years. The options will be
priced at $0.55 and have been granted in accordance with the Company's amended and restated stock
option plan.
About Northern Graphite
Northern is a Canadian, TSX Venture Exchange listed company that is focussed on becoming a world
leader in producing natural graphite and upgrading it into high value products critical to the green
economy including anode material for lithium ion batteries/EVs, fuel cells and graphene, as well as
advanced industrial technologies.
Northern is the only significant graphite producing company in North America and will become the third
largest outside of China when its Namibian operations come back online.
The Company also has two
large scale development projects, Bissett Creek in Ontario and Okanjande in Namibia, that will be a
source of continued production growth in the future.
All projects have "battery quality" graphite and are
located close to infrastructure in politically stable countries.
For additional information
Please visit the Company's website at
http://www.northerngraphite.com/investors/presentation/
, the
Company's profile on
www.sedar.com,
our
Social Channels
listed below or
contact the Company at
(613) 271-2124.
YouTube
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain "forward-looking statements" within the meaning of applicable
Canadian securities laws. Forward- looking statements and 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 Company's intentions with respect to advancing its developments projects to
production, and developing the capacity to manufacture value added products. All such forward-
looking statements are based on assumptions and analyses made by management based on their
experience and perception of historical trends, current conditions and expected future developments,
as well as other factors they believe are appropriate in the circumstances. However, these statements
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 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 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 on what
management believes are reasonable assumptions, the Company cannot assure investors that
actual results will be consistent with them. 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/154531