Big North Announces Private Placement
10 Enero 2014 - 4:30PM
Access Wire
Vancouver, B.C., January 10, 2014 - BIG NORTH GRAPHITE CORP. (TSX-V: NRT)
(the "Company" or
"Big North"), is pleased to announce that it intends to complete a
non-brokered private placement of up to 10,000,000 units (the
"Units") at a price of $0.06 per Unit, for gross proceeds of up to
$600,000 (the "Offering"). Each Unit
will consist of one common share (a "Share") and one common
share purchase warrant (a "Warrant"). Each Warrant
will entitle the holder thereof to purchase one Share at an
exercise price of $0.075 for a period of 24 months following the
closing of the Offering.
Completion of the
Offering is subject to receipt of all regulatory approvals,
including the approval of the TSX Venture Exchange (the
"TSXV"). All securities issued pursuant to the Offering will be
subject to a statutory four month hold period under applicable
securities laws.
Net proceeds from the
Offering will be applied towards the acquisition of the El Tejon
graphite mine in Oaxaca, Mexico (see December 19, 2013 press
release) and for general working capital purposes.
In connection with
the Offering, Big North may, subject to regulatory acceptance, pay
a finder's fee to certain arm's length parties up to the maximum
permitted under TSXV policies.
None of the securities issued in connection
with the Offering will be registered under the U.S. Securities Act
of 1933, as amended, and may not be offered or sold in the United
States absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful.
About Big North Graphite Corp.
Big North is a
graphite development and exploration company focused on select
projects in Mexico and Canada. The Company acquired three past
producing amorphous graphite mines in Sonora, Mexico and is working
towards accelerating the restart of the Nuevo San Pedro amorphous
graphite mine. Big North is currently in the Test Mining phase at
Nuevo San Pedro and has completed four consecutive months of sales
of amorphous graphite.
Big North has started
the assembly of a processing plant that will be used for crushing,
screening, sizing and drying of amorphous graphite to the
specifications of future customers. Further, the Company has
commenced a strategy of buying unprocessed amorphous graphite from
local miners who do not possess the ability to process or ship to
end users. Recently, Big North signed an LOI to acquire the El
Tejon Flake Graphite Mine and Mill in Oaxaca, Mexico. Big North
also owns high priority, large flake graphite exploration projects
in Ontario and Quebec, Canada.
For further information please contact Spiro Kletas at
(604) 629-8220.
ON BEHALF OF THE
BOARD
(signed)
"Spiro
Kletas"
Spiro
Kletas
President and Chief Executive
Officer
Facebook: https://www.facebook.com/bignorthgraphite
Twitter: https://twitter.com/NRTgraphite
YouTube: http://www.youtube.com/bignorthgraphite
Flicker: http://www.flickr.com/photos/bignorthgraphite
Neither the 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.
Except for historical information contained
herein, this news release contains forward-looking
statements that involve risks and
uncertainties. Actual results may differ materially. Except as
required pursuant to applicable securities laws, the Company will
not update these forward-looking statements to reflect events or
circumstances after the date hereof. More detailed information
about potential factors that could affect financial results is
included in the documents filed from time to time with the Canadian
securities regulatory authorities by the Company.
NOT
FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR
DISSEMINATION IN THE UNITED STATES
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