Northern Graphite Announces Exercise of Warrants

March 25, 2021 – Northern Graphite Corporation (NGC:TSX-V, NGPHF:OTCQB) (the “Company” or “Northern”) announces that 3,020,000 warrants that were due to expire on March 24, 2021 have been exercised at a price of $0.40 per share. The Company realized proceeds of $1,208,000 and its cash position currently stands at $4.9 million. The Company also owns 2,000,000 shares of Electric Royalties Ltd. with a market value of approximately $650,000 and it has no debt. Northern currently has 78,820,756 shares outstanding.

 

Gregory Bowes CEO commented that: “The Company greatly appreciates the vote of confidence from existing shareholders who have increased their investment by exercising warrants.” He added that: “While there has been an almost constant stream of announcements about the EV plans of major automobile makers and increases in lithium ion battery manufacturing capacity, they have said little about the substantial quantity of graphite that is required to actualize these plans. This needs to change because the production of synthetic graphite has a very large environmental footprint and both it and the natural graphite market are dominated by China. There are very few graphite deposits located in countries, and owned by companies, that can meet the highest ESG standards. Northern is one of them.”

 

About Northern Graphite

 

Northern Graphite is a mineral development and technology company focussed on developing its Bissett Creek graphite deposit and upgrading mine concentrates into high value components used in lithium-ion batteries, electric vehicles, fuel cells, graphene and other advanced technologies. An independent study estimates that Bissett Creek will have the highest margin of any existing or proposed graphite deposit due to its very favorable location, simple metallurgy and the high quality of its concentrates which the Company believes will provide a competitive advantage in manufacturing products for the green economy.

 

Bissett Creek is an advanced stage project with a full Feasibility Study and its major mining permit which puts the Company in position to make a construction decision, subject to financing. The Project is located in the southern part of Canada between the cities of North Bay and Ottawa and close to the Trans-Canada highway providing ready access to labour, supplies, equipment, natural gas and markets.