Proceeds to help finance Baie-Comeau Battery Anode Material facility feasibility study and provide working capital
Lead follow-on Investment by The BMI Group represents a further endorsement of Northern's Mine-to-Market strategy
Ottawa, 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 key missing link in North America's energy transition supply chain, providing the domestic processing capacity needed to turn Canadian graphite into battery-grade anode material.
In connection with the closing of the Private Placement, the Company paid finder's fees of $10,750 and $51,000 to Canaccord Genuity Corp. and 2401242 Ontario Inc., respectively, in relation to Offered Shares sold to investors introduced by such parties.
The Offered Shares issued in the Private Placement are subject to the statutory hold period of four months and one day from the date of issuance expiring on April 20, 2026 in accordance with applicable Canadian securities legislation.
This press release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities being offered under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws of any state in the United States and accordingly may not be offered or sold within the United States or to any person in the United States or to U.S. persons unless registered under the 1933 Act and any applicable state securities laws, or exemption from such registration requirements is available.
About Northern Graphite
Northern is a Canadian, TSX Venture Exchange listed company that is the only flake graphite producing company in North America. Northern is focused 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. The Company's mine-to-battery strategy is spearheaded by its Battery Materials Group, which has a fully equipped, state-of-the-art laboratory in Frankfurt.
Northern's graphite assets include the producing Lac des Iles mine in Quebec where the Company is boosting output to meet growing demand from industrial customers and coming demand from North American battery makers. The Company also owns the large-scale Bissett Creek project in Ontario and the fully permitted Okanjande graphite mine in Namibia, which is currently on care and maintenance, and represents an opportunity to substantially increase graphite production at a lower cost and with a shorter time to market than most competing projects. All projects have "battery quality" graphite and are located close to infrastructure in politically stable jurisdictions.
For media inquiries contact
Pav Jordan, VP of Communications
Email: pjordan@northerngraphite.com
For additional information
Please visit the Company's website at https://www.northerngraphite.com/home/, the Company's profile on www.sedarplus.ca our Social Channels listed below or contact the Company at (613) 271-2124.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements in this news release include statements regarding, among others, the Company's plans to develop its Baie-Comeau Battery Anode Material facility, extend the mine life of its LDI mine, intentions to restart the Okanjande mine in Namibia and development plans for its other projects including Bissett Creek. All such forward-looking statements are based on assumptions and analyses made by management based on their experience and perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. However, these statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected including, but not limited to, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of other parties to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure and the failure of ongoing and contemplated studies to deliver anticipated results or results that would justify and support continued studies, development or operations and the inability to raise required financing. Readers are cautioned not to place undue reliance on forward-looking information or statements.
Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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Source: Northern Graphite Corporation