Mason Graphite Announces Exercise of Warrants in NanoXplore Inc. and Filing or Early Warning Report
August 06 2019 - 8:00AM
Mason Graphite Inc. ("Mason Graphite" or "the
Company") (TSX.V: LLG; OTCQX: MGPHF) announces it filed an early
warning report today in connection with the exercise by Mason
Graphite of 1,111,111 warrants to purchase common shares in the
capital of NanoXplore Inc., a publicly listed company on the TSX
Venture Exchange trading under the ticker symbol GRA, at an
exercise price of $0.70 per share. The warrants had been
acquired by Mason Graphite pursuant to a private placement
completed by NanoXplore in the third quarter of 2017.
Prior to the exercise of these warrants, Mason
Graphite held an aggregate 21,077,222 shares of NanoXplore,
1,111,111 warrants to purchase additional shares of NanoXplore at
an exercise price of $0.70 per share and 303,050 warrants to
purchase additional shares of NanoXplore at an exercise price of
$2.30 per share. The warrants were acquired in two separate
private placement transactions.
Subsequent to the exercise of these warrants,
Mason Graphite holds an aggregate of 22,188,333 shares of
NanoXplore and 303,050 warrants which represents approximately
18.76% of the issued and outstanding shares of
NanoXplore.
The shares were acquired by Mason Graphite upon
exercise of warrants previously acquired that were to expire on
August 2nd, 2019. The purpose of the transaction was to
benefit from the fact that the exercise price of the warrants
($0.70) was less than the current market price of the shares of
NanoXplore.
The above referenced early warning report
relating to this press release has been filed on System for
Electronic Document Analysis and Review (SEDAR) at www.sedar.com
under NanoXplore’s issuer profile.
About Mason Graphite and the Lac Guéret
Project
Mason Graphite is a Canadian mining, processing
and natural graphite development company, which is in the process
of establishing its graphite production facility in Baie-Comeau,
Quebec. The Company is led by a highly experienced team that has
approximately 70 years of experience in graphite production, sales,
and research and development. For more information, visit
www.masongraphite.com.
Mason Graphite Inc. On Behalf
of the Board“Benoît Gascon, CPA, CA”, President & Chief
Executive Officer
For more Information:Simon
Marcotte, CFA, Director Corporate Development at +1 (647) 801-7273
and at info@masongraphite.com
For more information relating to local
communities:+1 (514) 289-3580 and at
info@masongraphite.comHead Office: 3030, boulevard Le Carrefour,
bureau 600, Laval, Québec, H7T 2P5
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; (x) 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.
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.
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