2012-11-28 22:04:30 -
OTTAWA, ONTARIO -- (Marketwire) -- 11/28/12 -- Northern Graphite Corporation (TSX VENTURE:NGC)(OTCQX:NGPHF) is pleased to announce that it has been accepted for graduation to Tier 1 of the TSX Venture Exchange (the "TSXV"). Northern will commence trading as a Tier 1 issuer on November 29, 2012.
As a result of Northern's graduation to Tier 1 issuer status, securities of Northern currently held in escrow under escrow agreements dated April 7, 2011 entered into among Northern, Equity Financial Trust Company as escrow agent and certain escrowed security holders of the Company pursuant to National Policy 46-201 Escrow for Initial Public Offerings and the policies of the TSXV will become subject to an accelerated release schedule. As a result, all of the securities of Northern currently remaining in escrow, being an aggregate of 1,734,541 common shares of Northern, will be released effective November 29, 2012. Upon the release of these securities, Northern will not have any securities remaining in escrow. The vast majority of the escrowed shares are held by directors and management. The number of outstanding common shares of Northern will not change as a result of the escrow release.
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.
Gregory Bowes, CEO
Stephen Thompson, CFO