Northern Graphite Completes $500,000 Private Placement and Announces Board Changes

Northern Graphite ( (TSE:NGC) ) just unveiled an announcement.

Northern Graphite has successfully closed a non-brokered private placement, raising $500,000 through the issuance of flow-through shares. The proceeds will be directed towards Canadian exploration expenses at the Lac des Iles mine in Quebec and the Mousseau West exploration project, aiming to identify new sources of mill feed. Additionally, the company has granted restricted share units to its team to support long-term growth plans and announced the resignation of Don Christie from its Board of Directors, with no immediate plans to replace him.

More about Northern Graphite

Northern Graphite is the only flake graphite producing company in North America, listed on the TSX Venture Exchange. It aims to become a global leader in producing natural graphite and transforming it into high-value products essential for the green economy, such as anode materials for lithium-ion batteries, fuel cells, and graphene. The company’s Battery Materials Division, equipped with a state-of-the-art laboratory in Frankfurt, focuses on developing advanced anode materials to enhance the performance of lithium-ion batteries.

YTD Price Performance: -33.64%

Average Trading Volume: 71,614

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: $9.58M

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