Big North Closes Private Placement - KMPH FOX 26 | Central San Joaquin Valley News Source

Big North Closes Private Placement

Posted: Updated:

Vancouver, B.C. / ACCESSWIRE / March 14, 2014 / BIG NORTH GRAPHITE CORP. (TSX-V: NRT) (the Company or Big North“), announces that, further to its news releases of January 10, February 24 and March 13, 2014, the Company has closed on a total of 13,333,333 units (the “Units“) at $0.06 per Unit for aggregate gross proceeds of $800,000. The final tranche closed on March 13, 2014 and consisted of 8,275,001 Units for gross proceeds of $496,500 (the “Offering“).

Each Unit consists of a common share in the capital of the Company (a “Share“) and one common share purchase

warrant (a “Warrant”). Each Warrant entitles the holder to acquire one Share at a price of $0.075 per Share for

two years following the closing of the Offering.

As announced on February 24, 2014, the Company closed the first tranche of the Offering for a total of 5,058,332 Units for gross proceeds of $303,500.

All securities issued in connection with the second tranche of the Offering will be subject to a four month hold period expiring on July 14, 2014, in accordance with applicable Canadian 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 news release) and for general working capital purposes. The Offering remains subject to final acceptance by the TSX Venture Exchange.

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 sales of amorphous graphite totaling 760 tons to date.

Big North Graphite recently announced the acquisition of the past producing El Tejon flake graphite mine and mill in Oaxaca, Mexico. Big North is poised to capitalize on the increasing strategic demand for graphite throughout the world, a demand that is being driven by the growth in new, green technologies including the lithium ion batteries that are being used in hybrid and fully electric vehicles.

Big North also owns high priority, large flake graphite exploration projects in Ontario and Quebec, Canada.

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 state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This news release has been approved by the Board of Directors. For additional information please contact: Spiro Kletas, President & CEO, at +1-604-629-8220 or spiro@bignorthgraphite.com

ON BEHALF OF THE BOARD

“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 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 UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

ReleaseID: 413068

  • Local NewsLocal NewsMore>>

  • Fresno County Sheriff's Deputy and A Man Accused of Breaking Into A Home Get Into A Fight

    Fresno County Sheriff's Deputy and A Man Accused of Breaking Into A Home Get Into A Fight

    A Fresno County Sheriff's Deputy is recovering after getting into a fight with a man trying to break into a home. Investigators say the bad guy tried to run away and that's when the fight happened.
    More >>
    A Fresno County Sheriff's Deputy is recovering after getting into a fight with a man trying to break into a home. Investigators say the bad guy tried to run away and that's when the fight happened.

    More >>
  • Father of Fallen Soldier Speaks About Son's Death & Life

    Father of Fallen Soldier Speaks About Son's Death & Life

    Visalia resident, Frank Williams says his son Keith loved to make his friends laugh but most of all he loved to serve The United States of America.Private First Class Keith Williams died Thursday night near the Afghanistan-Pakistan border.Williams says when the truck Keith was riding in was hit an improvised explosive device.Williams says, "Keith was a dedicated soldier and he loved being a soldier and his mom and I are very proud of his accomplishments. Even though we lost him and it's very...More >>
    Visalia resident, Frank Williams says his son Keith loved to make his friends laugh but most of all he loved to serve The United States of America.Private First Class Keith Williams died Thursday night near the Afghanistan-Pakistan border.Williams says when the truck Keith was riding in was hit an improvised explosive device.Williams says, "Keith was a dedicated soldier and he loved being a soldier and his mom and I are very proud of his accomplishments. Even though we lost him and it's very...More >>
  • Customer Steals Parts While Bike Shop Owner Repairs His Bike

    Customer Steals Parts While Bike Shop Owner Repairs His Bike

    A customerdecided to help himself to bike parts atFulton Cycle Works in downtown Fresno while the ownerwas busy repairing his bicycle. The burglary was caught on the owner's security cameras. The owner Darren Johnson called the thief a semi-regular customer. "It' hurts, it hurts. I take it personal because I have to trust people in this spot to kind of be on their honor."Johnson says the thief helped himself to a pair of gloves, bike grips and a set of tires. He brought a second bike to the s...More >>
    A customerdecided to help himself to bike parts atFulton Cycle Works in downtown Fresno while the ownerwas busy repairing his bicycle. The burglary was caught on the owner's security cameras. The owner Darren Johnson called the thief a semi-regular customer. "It' hurts, it hurts. I take it personal because I have to trust people in this spot to kind of be on their honor."Johnson says the thief helped himself to a pair of gloves, bike grips and a set of tires. He brought a second bike to the s...More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KMPH. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.