/NOT FOR DISTRIBUTION TO UNITED
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MONTREAL,
Jan. 22, 2014 /CNW/ - Mason
Graphite Inc. ("Mason Graphite" or the "Company") (TSX.V: LLG;
OTCQX: MGPHF) has completed its previously-announced non-brokered
private placement financing by issuing 875,000 common shares at a
price of $0.80 per common share for
gross proceeds of $700,000.
The common shares will be subject to a hold
period of four months and one day expiring on May 22, 2014.
Mason Graphite intends to use the proceeds from
the financing to fund an investment in Group NanoXplore Inc. (see
news release dated January 13, 2014)
and for general corporate purposes.
About Mason Graphite
Mason Graphite is a Canadian mining company
focused on the exploration and development of its 100% owned Lac
Guéret graphite property, located in northeastern Québec. The
property hosts a National Instrument 43-101 compliant Mineral
Resource featuring 50,024,000 tonnes grading 15.6% Cg, including
6,672,000 tonnes at 32.4% Cg, in the Measured and Indicated
categories and 11,861,000 tonnes grading 17.1% Cg, including
2,637,000 tonnes at 30.5% Cg, in the Inferred category. Excellent
potential exists for further mineral resource growth. A Preliminary
Economic Assessment study was completed on an earlier 7,600,000
tonne mineral resource estimate from July
2012 which features 22 years of production at 27.4% Cg and a
pre-tax internal rate of return of 33.7% (see technical report
entitled "NI 43-101 Technical Report on the Mineral Resources
Estimation Update 2013 Lac Guéret Graphite Project,
Québec-Canada", dated January
17, 2014). The Company's senior management team possesses
significant graphite expertise from their experience at
Timcal/Imerys, including Benoit
Gascon, CPA, CA, who held executive positions for 20 years,
including over 6 years as President and CEO; Jean L'Heureux, Eng.,
Executive Vice-President, Process Development, with over 20 years
of experience; and Luc Veilleux,
CPA, CA, Chief Financial Officer and Executive Vice-President, with
8 years of experience. Timcal, now owned by Imerys, is one of the
largest graphite producers in the world.
Qualified Person
Jean L'Heureux, Eng., Mason
Graphite's Executive Vice-President of Process
Development and a Qualified Person as defined by National
Instrument 43-101, has reviewed and approved the scientific and
technical content of this press release.
For more information about Mason Graphite, visit
www.masongraphite.com or contact info@masongraphite.com.
Stay Connected: Twitter: @MasonGraphite
Facebook: /MasonGraphite
Cautionary Statements
This press release contains "forward-looking
information" within the meaning of Canadian securities legislation.
All information contained herein that is not clearly historical in
nature may constitute forward-looking information. Generally, such
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: (i)
volatile stock price; (ii) the general global markets and economic
conditions; (iii) the possibility of write-downs and impairments;
(iv) the risk associated with exploration, development and
operations of mineral deposits; (v) the risk associated with
establishing title to mineral properties and assets; (vi) the risks
associated with entering into joint ventures; (vii) fluctuations in
commodity prices; (viii) the risks associated with uninsurable
risks arising during the course of exploration, development and
production; (ix) competition faced by the resulting issuer in
securing experienced personnel and financing; * access to adequate
infrastructure to support mining, processing, development and
exploration activities; (xi) the risks associated with changes in
the mining regulatory regime governing the resulting issuer; (xii)
the risks associated with the various environmental regulations the
resulting issuer is subject to; (xiii) risks related to regulatory
and permitting delays; (xiv) risks related to potential conflicts
of interest; (xv) the reliance on key personnel; (xvi) liquidity
risks; (xvii) the risk of potential dilution through the issue of
common shares; (xviii) the Company does not anticipate declaring
dividends in the near term; (xix) the risk of litigation; and (xx)
risk management.
Forward-looking information is based on
assumptions management believes to be reasonable at the time such
statements are made, including but not limited to, continued
exploration activities, no material adverse change in metal prices,
exploration and development plans proceeding in accordance with
plans and such plans achieving their stated expected outcomes,
receipt of required regulatory approvals, and such other
assumptions and factors as set out herein. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such forward-looking information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such forward-looking
information. Such forward-looking information has been provided for
the purpose of assisting investors in understanding the Company's
business, operations and exploration plans and may not be
appropriate for other purposes. Accordingly, readers should not
place undue reliance on forward-looking information.
Forward-looking information is made as of the date of this press
release, and the Company does not undertake to update such
forward-looking information except in accordance with applicable
securities laws.
Mineral resources that are not mineral
reserves do not have demonstrated economic viability. The estimate
of mineral resources may be materially affected by environmental,
permitting, legal, title, taxation, sociopolitical, marketing, or
other relevant issues.
The quantity and grade of reported inferred
mineral resources in this news release are uncertain in nature and
there has been insufficient exploration to define these inferred
mineral resources as indicated or measured mineral resources and it
is uncertain if further exploration will result in upgrading them
to indicated or measured mineral resources.
The PEA is preliminary in nature and includes
Inferred Mineral Resources, which are considered too geologically
speculative to have mining and economic considerations applied to
them that would enable them to be categorized as mineral reserves.
Mineral resources that are not mineral reserves do not have
demonstrated economic viability. There is no certainty that the
reserves development, production, and economic forecasts on which
the PEA is based will be realized.
Neither 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 release.
SOURCE Mason Graphite Inc.