Business
Northern Announces Change in Restricted Share Unit Vesting Periods and Stock Option Grant
Ottawa, Ontario--(Newsfile Corp. - February 12, 2023) - Northern Graphite Corporation (TSXV: NGC...
About this update from Northern Graphite Corporation
[{"type":"text","content":"Northern Announces Change in Restricted Share Unit Vesting Periods and Stock Option GrantOttawa, Ontario--(Newsfile Corp. - February 12, 2023) - Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG) (the \"Company\" or \"Northern\") announces that the vesting period for 1,300,000 restricted share units (\"RSUs\") granted by the Company to certain officers and employees, and announced on December 20, 2022, were issued subject to time-based vesting of 1/4 of the RSUs on each of the first and second anniversaries of the respective start dates for the officers and employees with the balance vesting on the third anniversary. It was originally announced that 1/4 of the RSUs would vest on each of their first, second, third and fourth anniversaries. This change was made for tax reasons specific to the award of RSUs.Northern also reports the grant of stock options to an officer of the Company to purchase a total of 200,000 shares of ‎the Company, vesting immediately, for a period of five years.‎ The options will be priced at $0.55 and have been granted in accordance with the Company's amended and restated stock option plan.About Northern GraphiteNorthern is a Canadian, TSX Venture Exchange listed company that is focussed on becoming a world leader in producing natural graphite and upgrading it into high value products critical to the green economy including anode material for lithium ion batteries/EVs, fuel cells and graphene, as well as advanced industrial technologies. Northern is the only significant graphite producing company in North America and will become the third largest outside of China when its Namibian operations come back online. The Company also has two large scale development projects, Bissett Creek in Ontario and Okanjande in Namibia, that will be a source of continued production growth in the future. All projects have \"battery quality\" graphite and are located close to infrastructure in politically stable countries.For additional informationPlease visit the Company's website at http://www.northerngraphite.com/investors/presentation/, the Company's profile on www.sedar.com, our Social Channels listed below or contact the Company at (613) 271-2124. LinkedInYouTubeTwitterFacebookCautionary Note Regarding Forward-Looking StatementsThis news release contains certain \"forward-looking ...