Mason Graphite Announces Appointment of New Independent Director
MONTREAL, QUEBEC--(Marketwired - Dec 15, 2015) - Mason Graphite Inc. ("Mason Graphite" or the "Company") (TSX VENTURE:LLG)(OTCQX:MGPHF) is pleased to announce the appointment of Mr. Guy Chamard as an independent director of the Company, effective immediately.
Mr. Chamard is the nominee of Ressources Québec, a subsidiary of Investissement Québec, appointed pursuant to its nomination rights granted by the Company on closing of the Company's bought deal private placement financing closed on April 28th 2014. Ressources Québec was also granted a right of first refusal to participate in any future securities offerings of the Company on closing of this offering. Mr. Chamard's appointment was approved by the shareholders of the Company at the Annual and Special Meeting of Shareholders of the Company held in Laval, Quebec on December 15th 2015.
Tayfun Eldem, Chairman of the Board of Mason Graphite commented "On Behalf of all the Directors, I would like to welcome Guy to Mason Graphite's Board. We are very excited to have someone with this level of experience join our team at this exciting time in the Company's evolution. Having worked on many projects in Québec and with a unique experience in industrial minerals, Guy is a perfect fit with the team and the company."
Mr. Guy Chamard, Eng., brings over 30 years of engineering and construction management experience to the Mason Graphite team. He has managed the design, engineering and construction of numerous mining projects around the world. From 2007 to 2014, Mr. Chamard worked as a Senior Manager, Mines & Geology for WSP Canada Inc., a leading engineering and construction management services firm and has worked in the position of Director of Projects with Tetra Tech Inc., a leading provider of engineering, construction management and technical consulting services, since 2014. He has also gained additional valuable experience as prevention officer for construction sites and was also a lecturer for the Engineering Masters Program at the University of Sherbrooke.
The Company also announces that it intends to issue an aggregate of 319,231 common shares of the Company (the "Common Shares") at a deemed price per share of $0.39 in payment of $124,500 in interest due and payable under the Company's 12% convertible debentures (the "Debentures"), which are held by Sodémex Développement, a subsidiary of the Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ and the Fonds régional de solidarité FTQ Côte-Nord. The Debentures are due June 11, 2019. Under the terms of the Debentures, the Company has the option to pay 50% of the semi-annual interest due on the Debentures in Common Shares. The balance of the interest owing under the Debentures, being $124,500, has been paid in cash. The issuance of the Common Shares in payment of interest on the Debentures is subject to the approval of the TSX Venture Exchange and the Common Shares will be subject to a four month hold period.
About Mason Graphite and the Lac Guéret Project
Mason Graphite is a Canadian mining and processing company focused on the development of its 100% owned Lac Guéret natural graphite deposit located in northeastern Québec. The Company is led by a highly experienced team that has over five decades 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
Head Office: 3030, boulevard Le Carrefour, bureau 600, Laval, Québec, H7T 2P5
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.
Contact
For more Information:
Simon Marcotte, CFA
Vice-President Corporate Development
+1 (514) 289-3580
info@masongraphite.com
For more information relating to local communities:
Luc Veilleux, CPA, CA
Executive Vice-President and CFO
+1 (514) 289-3582
info@masongraphite.com