Business
Mason Graphite Closes Private Placement Financing
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED ...
About this update from Transoceanic Investments Inc.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR\n DISSEMINATION IN THE UNITED STATES/\n\n\nMONTREAL, Jan. 22, 2014 /CNW/ - Mason Graphite Inc. (\"Mason Graphite\" or the \"Company\") (TSX.V: LLG; OTCQX: MGPHF) has\n completed its previously-announced non-brokered private placement\n financing by issuing 875,000 common shares at a price of $0.80 per\n common share for gross proceeds of $700,000.\n\n\nThe common shares will be subject to a hold period of four months and\n one day expiring on May 22, 2014.\n\n\nMason Graphite intends to use the proceeds from the financing to fund an\n investment in Group NanoXplore Inc. (see news release dated January 13,\n 2014) and for general corporate purposes.\n\n\nAbout Mason Graphite\n\n\nMason Graphite is a Canadian mining company focused on the exploration\n and development of its 100% owned Lac Guéret graphite property, located\n in northeastern Québec. The property hosts a National Instrument 43-101\n compliant Mineral Resource featuring 50,024,000 tonnes grading 15.6%\n Cg, including 6,672,000 tonnes at 32.4% Cg, in the Measured and\n Indicated categories and 11,861,000 tonnes grading 17.1% Cg, including\n 2,637,000 tonnes at 30.5% Cg, in the Inferred category. Excellent\n potential exists for further mineral resource growth. A Preliminary\n Economic Assessment study was completed on an earlier 7,600,000 tonne\n mineral resource estimate from July 2012 which features 22 years of\n production at 27.4% Cg and a pre-tax internal rate of return of 33.7%\n (see technical report entitled \"NI 43-101 Technical Report on the\n Mineral Resources Estimation Update 2013 Lac Guéret Graphite Project,\n Québec-Canada\", dated January 17, 2014). The Company's senior\n management team possesses significant graphite expertise from their\n experience at Timcal/Imerys, including Benoit Gascon, CPA, CA, who held\n executive positions for 20 years, including over 6 years as President\n and CEO; Jean L'Heureux, Eng., Executive Vice-President, Process\n Development, with over 20 years of experience; and Luc Veilleux, CPA,\n CA, Chief Financial Officer and Executive Vice-President, with 8 years\n of experience. Timcal, now owned by Imerys, is one of the largest\n graphite producers in the world.\n\n\nQualified Person\n\n\nJean L'Heureux, Eng., Mason Graphite...