Northern Graphite Announces $2.2 Million Non-Brokered Private Placement

Core Viewpoint - Northern Graphite Corporation is conducting a non-brokered private placement to raise up to C$2.2 million for financing a feasibility study for its Battery Anode Material facility in Baie-Comeau, Québec, along with working capital needs [1][2]. Group 1: Private Placement Details - The private placement involves the issuance of up to 20,000,000 common shares at a price of C$0.11 per share, with conditional acceptance from the TSX Venture Exchange [1]. - The net proceeds will be allocated to initiate a feasibility study for the Baie-Comeau facility and cover working capital and corporate expenses [2]. - The shares issued will be subject to a statutory hold period of four months in accordance with Canadian securities legislation [3]. Group 2: Company Overview - Northern Graphite is the only flake graphite producer in North America, aiming to become a leader in producing natural graphite and high-value products essential for the green economy, including battery anode materials [5]. - The company operates the Lac des Iles mine in Quebec and owns the Bissett Creek project in Ontario, as well as the Okanjande graphite mine in Namibia, which is currently on care and maintenance [6]. - All projects are characterized by "battery quality" graphite and are strategically located near infrastructure in politically stable regions [6].