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Northern Graphite intends to acquire Mousseau West graphite project

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Maksim Labkouski

  • Northern Graphite (OTCQB:NGPHF) intends to exercise its option to acquire a 100% interest in the Mousseau West graphite project.
  • The project is located ~80 kms from, and within economic trucking distance of, the company's producing Lac-des-Iles ("LDI") graphite mine in Quebec.
  • The company can acquire Mousseau West through the payment of $500K in cash and the issuance of 900K shares, subject to the acceptance of the TSX Venture Exchange.
  • The company also has the right to acquire a 2% net smelter royalty retained by the owners at any time upon the payment of $1M.
  • Source: Press Release

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