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Northern Graphite Completes $1.35 Million Non-Brokered Private Placement
Proceeds to help finance Baie-Comeau Battery Anode Material facility feasibility study and provid...
About this update from Northern Graphite Corporation
[{"type":"text","content":"Northern Graphite Completes $1.35 Million Non-Brokered Private PlacementProceeds to help finance Baie-Comeau Battery Anode Material facility feasibility study and provide working capitalLead follow-on Investment by The BMI Group represents a further endorsement of Northern's Mine-to-Market strategyOttawa, Ontario--(Newsfile Corp. - December 22, 2025) - Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG) (the \"Company\" or \"Northern\") is pleased to announce it has completed a non-brokered private placement financing (the \"Private Placement\") under which it has issued 10,800,000 common shares of the Company (the \"Offered Shares\") at a price of C$0.125 per Offered Share for aggregate gross proceeds of C$1,350,000. The BMI Group was the lead investor under the Private Placement. The Private Placement, along with the non-brokered private placement announced on October 10, 2025, completes the total C$2,200,000 non-brokered private placement previously disclosed by Northern in September 2025.The net proceeds from the Private Placement will be used for the feasibility study on Northern's planned Battery Anode Material (\"BAM\") facility in Baie-Comeau, Québec and for working capital and corporate expenses.\"The participation of The BMI Group in this financing reflects confidence in Northern's assets and strategy and supports the advancement of battery anode material processing capabilities in Canada and North America,\" said Northern Chief Executive Officer Hugues Jacquemin.In April, Northern and The BMI Group announced a partnership to evaluate the establishment of a BAM facility at the former paper mill site in Baie-Comeau being redeveloped by BMI as the Norderra multimodal industrial hub. Reactivating this brownfield site would provide a faster time to market compared to a greenfield alternative, supporting Québec and Canada's critical minerals strategy while creating new jobs and economic growth in the region. The BMI Group was also the lead investor in Northern's $1.4 million non-brokered private placement completed in October 2025.Battery anode material, the single largest component of lithium-ion batteries, is produced by upgrading graphite mine concentrate to the exacting specifications of electric vehicle battery manufacturers. Northern's Baie-Comeau project directly addresses a...