Northern Graphite arranges $2.2M private placement

Executive Summary

• Northern Graphite Corp. announced a non‑brokered private placement of up to 20 million common shares at C$0.11 per share, targeting gross proceeds of up to C$2.2 million.
• The offering has been conditionally accepted by the TSX Venture Exchange and is subject to standard regulatory approvals and a four‑month statutory hold period.
• Net proceeds will fund a feasibility study for a battery anode material facility in Baie‑Comeau, Quebec, as well as working capital and other corporate expenses.

Key Details

• Placement Size: Up to 20 million common shares.
• Price per Share: C$0.11 (non‑brokered).
• Gross Proceeds Target: Up to C$2.2 million.
• Exchange Acceptance: Conditionally accepted by the TSX Venture Exchange.
• Regulatory Conditions: Subject to final acceptance by TSX Venture Exchange and statutory hold period of four months from issuance per Canadian securities law.
• Use of Proceeds:
• Initiate feasibility study for a battery anode material facility in Baie‑Comeau, Quebec.
• Working capital.
• General corporate expenses.

Notable Quotes

(No direct quotes were provided in the release.)