Northern Graphite Increases Size of Mousseau West Project
Northern Graphite Increases Size of Mousseau
West Project
Ottawa, Ontario--(Newsfile Corp. - March 14, 2023) - Northern Graphite Corporation
(TSXV: NGC)
(OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG)
(the "
Company
" or "
Northern
") is pleased to announce
that the area covered by its Mousseau West graphite project in Québec has been increased by an
additional 101.64 hectares to a total of 590.54 hectares by the Québec ministère des Ressources
naturelles et des Forêts (the "Minister") through an automatic procedure under the
Mining Act
(Québec)
due to the lapse of certain adjoining claims previously held by an arm's length third party. In connection
with the increase in the area covered by the Company's claims, the Company has paid $50,000 and
issued 100,000 common shares of the Company to the previous holder of the adjoining claims in order
to settle litigation proceedings challenging
the Minister's increase in the area of the Company's claims.
The transaction is an arm's-length transaction for purposes of the policies of the TSX Venture Exchange
(the "TSX-V") and was completed as an "Expedited Acquisition" pursuant to TSX-V Policy 5.3. The
common shares issued to the previous holder of the claims in connection with the transaction are subject
to a statutory four-month hold period expiring on July 15, 2023.
About Northern Graphite
Northern is a Canadian, TSX-V 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 in 2024.
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
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 bringing its Namibian
operations back on line and to advancing its other development 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, the failure of ongoing and contemplated studies to deliver anticipated results or results that would justify
and support continued studies, development or operations and the inability to raise the required financing. 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/158454