Great Lakes Graphite Receives Purchase Order From Western European Industrial Customer
TORONTO, ONTARIO--(Marketwired - Feb. 3, 2017) - Great Lakes Graphite Inc. ("GLK" or the "Company") (TSX VENTURE:GLK)(OTC PINK:GLKIF)(FRANKFURT:8GL) announces today that the Company has received a purchase order for 400 kilograms of micronized natural flake graphite from a large corporation headquartered in Western Europe with two production facilities in North America and a third production facility in the Middle East. The customer was provided with an initial sample of two kilograms of material for qualification testing and is now purchasing a larger quantity to conduct production-scale qualification tests.
The customer manufactures foams and chemicals that are used in a number of industries to make a wide range of products that include range from a wood substitute used in signage to cryogenic applications used in natural gas production processes. In this particular case, the customer is targeting improved performance for a particular set of products, which has been achieved by adding graphite.
Great Lakes Graphite Chief Executive Officer Paul Gorman said, "We are excited to be working with this customer for a number of reasons. The customer represents new markets for us, both geographically and also in terms of the targeted application set. We have been enjoying strong early success with our synthetic graphite products and are now gearing up marketing efforts for our natural flake graphite products. We are continuing to work through our partners to manage the production of these initial orders and are able to do so until such time as we are prepared to initiate and transition manufacturing operations to the Matheson facility."
Mike Coscia, GLK's Sr. Vice President of Sales said, "Product qualifications typically take several months. In this case we sent initial samples just before Christmas and the customer was able to put the material through their initial qualification protocol very quickly. Our sampling program is proving to be an effective means of attracting prospects and serves as an excellent entry point for beginning the conversion process of turning leads into customers."
Additional Purchase Orders Received From US Industrial
Great Lakes Graphite is pleased to announce that it has received an additional two purchase orders for a combined forty tons of synthetic graphite products from the large US-based industrial company who has purchased over four hundred and fifty tons of graphite from the Company to date.
Corporate Update - Board Chairman Appointed
The Company also wishes to announce that the Board of Directors has appointed Richard Lane as Chairman of the Board of Directors, effective immediately.
About Great Lakes Graphite: Great Lakes Graphite is an industrial minerals processing company working to supply customers with innovative, high quality value-added carbon products.
There is no significant graphite production in North America now. As pricing and demand continue to rise, Great Lakes Graphite is one of the first new domestic suppliers to a growing regional customer base. We continually work to ensure our products are of the very best quality and consistency and accompanied with outstanding customer service.
The Company is party to an agreement for shared use of a portion of an industrial facility located in Matheson, Ontario owned by Northfil Resources Limited, as well as for supply of high quality natural graphite concentrate (see news release dated 03/23/15), which have positioned Great Lakes Graphite to become an emerging domestic manufacturer and supplier of micronized products to a growing regional customer base where pricing and demand continue to rise.
Further information regarding Great Lakes can be found on the Company's website at: www.GreatLakesGraphite.com.
Great Lakes Graphite trades with symbol GLK on the TSX Venture Exchange and currently has 123,444,330 shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward Looking Information: Certain statements in this press release may constitute "forward looking information" which involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this press release, such forward looking information may use such words as "may'', "will'', "expect'', "believe'', "plan'' and other similar terminology. Forward looking information is provided for the purpose of presenting information about management's current expectations relating to the future events and the operating performance of the Company, and readers are cautioned that such information may not be appropriate for other purposes. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the ability of the Company to fulfill the orders and future orders, regulatory requirements, general economic, market or business conditions and future developments in the sectors of the economy in which the business of Great Lakes operates. The foregoing list of factors is not exhaustive. Please see the Company's financial statements, MD&A and other documents available on www.sedar.com, for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.
Contact
Paul Ferguson
Chief Marketing Officer
PFerguson@GreatLakesGraphite.com
1-800-754-4510 x106
Paul Gorman
Chief Executive Officer
PGorman@GreatLakesGraphite.com
1-800-754-4510 x109