Developments Continue to Reposition Company as a Commercial Enterprise
May 25, 2016, Toronto: Great Lakes Graphite Inc. (“GLK” or the “Company” TSX-V:GLK, OTC PINK:GLKIF, FWB:8GL) today announces that the Company has recently completed end-to-end commercial transactions from order to delivery with two local customers, marking completion of a key initial step in the transition of the company towards becoming a commercial enterprise. Each of the customers has ordered and received material that will be used for product qualification and performance testing. Material used to fulfill these orders was produced at a pilot plant facility and is representative of products that will be produced at Matheson.
Great Lakes Graphite CEO Paul Gorman said, “Advancing the Company to the point where we are now prepared and able to accept and fulfill purchase orders from customers has required a sustained and focused effort from a highly-motivated team. A manageable number of modest purchase orders are enabling us to build out the internal systems and capabilities we require to rapidly scale our business. This approach enables us to ensure the that internal procedures and controls are implemented and working as designed in advance of the next steps for the Company.”
Product Qualification Opens Marketing Channel
Following several months of product quality and performance testing, Great Lakes Graphite is finalizing details of a joint marketing agreement with one of the world’s premier advanced materials solutions providers. GLK’s new marketing partner is a Fortune 500 company that develops, manufactures and markets highly engineered advanced materials for global customers across a wide range of markets, including consumer electronics, defense and science, industrial and aerospace, automotive electronics, telecommunications infrastructure, appliances, medical and energy.
Preparations for Commissioning Advance at Matheson
Activities to continue preparing the plant for commissioning have been greatly facilitated by energizing of the facility. Availability of power has enabled the Company to move forward with testing all of the components that are involved in the micronization circuits at the plant. In addition to activities directed at the flowsheet components, other recent activities include a workplace safety audit and a number of initiatives targeted at improving security and providing necessary workplace amenities. Paul Adams, President of Northfil Resources Limited, said “Following a recent site visit, we are extremely pleased with the significant milestones achieved by Great Lakes and are very excited about the future.”
About Great Lakes Graphite: Great Lakes Graphite Inc. is an industrial minerals company focussed on bringing value-added carbon products to a well-defined market.
The Company has entered into 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 101,227,645 shares outstanding.
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Chief Marketing Officer
Chief Executive Officer
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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.