Northern Graphite Comments on Market Activity
October 24, 2017 (Source) — At the request of the Investment Industry Regulatory Organization of Canada (“IIROC”), Northern Graphite Corporation (TSX-V:NGC) (OTCBB:NGPHF) (the “Company”) wishes to confirm that the Company’s management is unaware of any material change in the Company’s affairs or operations that would account for the recent increase in market activity.
Gregory Bowes, CEO, commented that; “Supply issues in China, a recovering steel market, a very positive outlook for demand from the lithium ion battery industry and electric vehicles, and recent increases in graphite prices may all be contributing factors.”
About Northern Graphite Corporation
Northern is a Canadian company that has a 100% interest in the Bissett Creek graphite deposit located in southern Canada, relatively close to all required infrastructure. Bissett Creek is a well advanced project that has a Full Feasibility Study and its major environmental permit. Subject to the completion of operational and species at risk permitting, which are in the final stages, construction could commence in 2018 pending financing. The Company believes Bissett Creek has the highest margin, best flake size distribution and lowest marketing risk of any new graphite project, and has the added advantages of low capital costs and realistic production levels relative to the size of the market.
This press release contains forward-looking statements, which can be identified by the use of statements that include words such as “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “likely”, “will” or other similar words or phrases. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. The Company does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.
Neither 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.
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