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
www.northerngraphite.com/investors/presentation/
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www.sedar.com
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