Northern Graphite closes $1.44-million financing

Executive Summary

• Northern Graphite Corp. completed a $1.44 M non‑brokered private placement, issuing 13,114,546 common shares at C$0.11 per share.
• Net proceeds will fund a feasibility study for the planned Battery Anode Material (BAM) facility in Baie‑Comeau, Quebec, and provide working capital.
• The BMI Group acted as lead investor; a finder's fee of $29,260 was paid to Haywood Securities.

Key Details

• Placement size: 13,114,546 common shares issued at C$0.11 per share.
• Gross proceeds: C$1,442,600 (approximately US$1.4 M).
• Lead investor: The BMI Group.
• Use of proceeds:
• Initiate feasibility study for the Baie‑Comeau BAM facility (targeted completion within 12 months).
• Working capital and corporate expenses.
• Finder’s fee: $29,260 cash paid to Haywood Securities Inc., representing ~7 % of shares sold through the finder.
• Statutory hold period: Shares subject to a four‑month‑plus‑one‑day hold expiring on 2026‑02‑10.
• Potential additional issuance: Up to 6,885,454 further shares may be issued in a follow‑on closing (not guaranteed).
• Regulatory condition: Private placement pending final acceptance by the TSX Venture Exchange.

Notable Quotes

• “Securing the participation of a sophisticated investor like The BMI Group… is a strong endorsement of Northern, our assets and our strategy.” – Hugues Jacquemin, CEO, Northern Graphite Corp.
• “Our participation solidifies the partnership between BMI and Northern Graphite with a meaningful investment toward the Baie‑Comeau strategy.” – Paul Veldman, CEO, The BMI Group.