OTTAWA, ONTARIO--(Marketwire - April 11, 2012) - Northern Graphite Corporation (TSX VENTURE:NGC) ("Northern" or the "Company") announces that it has granted options to purchase an aggregate of 500,000 common shares to the five non-executive directors of the Company pursuant to the stock option plan approved by the Company's shareholders on August 17, 2011 (the "Plan"). The options are exercisable at any time at a price of $2.50 per share until April 11, 2017. The Company currently has 46,119,882 common shares issued and outstanding and can grant up to 4,611,988 options pursuant to the Plan. After giving effect to the above grants, 3,500,000 options will be outstanding under the Plan.
About Northern Graphite Corporation
Northern Graphite Corporation (TSX VENTURE:NGC) is a Canadian company that has a 100% interest in the Bissett Creek graphite deposit located in eastern Ontario. Northern Graphite is well positioned to benefit from this compelling supply/demand dynamic with a high purity, large flake, scalable deposit that is located close to infrastructure. A bankable Final Feasibility Study ("FS") and permitting are expected to be completed in the first half of 2012, following which mine construction could commence, subject to the results of the FS and financing. Additional information on Northern Graphite Corporation can be found under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.northerngraphite.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.
This press release contains forward-looking statements, which can be identified by the use of statements that include words such as "could", "potential", "believe", "expect", "anticipate", "intend", "plan", "likely", "will" or other similar words or phrases. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. The Company does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.