TORONTO, ONTARIO–(Marketwired – March 15, 2017) – Great Lakes Graphite Inc. (“GLK” or the “Company“) (TSX VENTURE:GLK)(OTC PINK:GLKIF)(FRANKFURT:8GL) today announces that the company has placed a purchase order for 2,320 metric tonnes of graphite with DNI Metals Inc. (“DNI”) The purchase order specifies a shipping schedule for the material from July through December of this year, with the exception of one container load of twenty tonnes that was shipped in late February.
The order has been placed following a visit in February by Great Lakes and DNI with the supplier of the material at their mine site in Brazil. Great Lakes Graphite Chief Executive Officer Paul Gorman commented, “Locking in a schedule for this year provides assurances on both sides that are required to operate our respective businesses. Great Lakes is assured of the supply that is required for this year and DNI Metals is able to provide assurances to the supplier that enable them to formulate a production schedule. We are fortunate to have access to this particular source of high quality material and equally as important that it is comes from an extremely competent, experienced and customer and quality-focused supplier.”
Brazil Trip Solidifies Supply Chain Relationships
Great Lakes Graphite traveled to Brazil in February this year to visit the graphite producer who supplies the flake graphite concentrate under the previously announced agreement. The trip provided the opportunity to see the production operations first hand and to speak with the personnel who have responsibility for operations and production.
The graphite concentrate product supplied under the terms of the agreement is a -100 mesh graphite concentrate with an average purity of 96%+. The material will be micronized to standard sizes offered by Great Lakes of 45 microns, 20 microns, 10 microns to a minimum of 5 microns. Specific particle sizes or particle size blends can be manufactured to customer specifications.
Micronized graphite is purified for applications that have the most demanding purity requirements. High technology applications requiring ultra high purity graphite include electric vehicles, energy storage, power generation and biotechnology. Great Lakes Graphite is able to achieve purity levels with the Brazilian graphite of over 99.99% using thermal purification methods at a commercial scale.
Great Lakes Graphite is pleased to be working on this critical supply relationship with DNI Metals, who will continue to handle the logistics and brokering of the material from Brazil to North America.
About Great Lakes Graphite: Great Lakes Graphite Inc. is an industrial minerals company focused on bringing value-added carbon products to a well-defined market.
The Company is party to an agreement for shared use of a portion of an industrial facility located in Matheson, Ontario owned by Northfil Resources Limited, as well as for supply of high quality natural graphite concentrate (see news release dated 03/23/15), which have positioned Great Lakes Graphite to become an emerging domestic manufacturer and supplier of micronized products to a growing regional customer base where pricing and demand continue to rise.
Further information regarding Great Lakes can be found on the Company’s website at: www.GreatLakesGraphite.com.
Great Lakes Graphite trades with symbol GLK on the TSX Venture Exchange and currently has 123,444,330 shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward Looking Information: Certain statements in this press release may constitute “forward looking information” which involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this press release, such forward looking information may use such words as “may”, “will”, “expect”, “believe”, “plan” and other similar terminology. Forward looking information is provided for the purpose of presenting information about management’s current expectations relating to the future events and the operating performance of the Company, and readers are cautioned that such information may not be appropriate for other purposes. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the ability of the Company to fulfill the orders and future orders, regulatory requirements, general economic, market or business conditions and future developments in the sectors of the economy in which the business of Great Lakes operates. The foregoing list of factors is not exhaustive. Please see the Company’s financial statements, MD&A and other documents available on www.sedar.com, for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.
Paul Ferguson
Chief Marketing Officer
1-800-754-4510 x106
[email protected]
Great Lakes Graphite Inc.
Paul Gorman
Chief Executive Officer
1-800-754-4510 x109
[email protected]
www.GreatLakesGraphite.com
