Orocan Resource Corp. Completes Name Change to “Standard Graphite Corporation“
02.02.2012 | Marketwire
VANCOUVER, Feb. 2, 2012 - Standard Graphite Corp. (the “Company) (TSX VENTURE: SGH) is pleased to announce that at the extraordinary general meeting of members of the Company on January 27, 2012 the shareholders voted in favor of a name change to Standard Graphite Corporation.The Company will commence trading on the TSX Venture Exchange under the symbol “SGH“ at the open on February 3, 2012.
Graphite Market
Global consumption of natural graphite is estimated to have increased from ~600,000t in 2000 to 1.1 Mt in 2010. Demand for graphite is estimated to have been increasing by approximately 5% per year since 2000 due to the ongoing modernization of China, India and other emerging economies, resulting in strong demand from traditional end uses such as the steel and automotive industries. Graphite also has many important new applications such as lithium-ion batteries, fuel cells and nuclear and solar power that have the potential to create significant incremental demand growth. There is roughly 10-20 times more graphite in a lithium-ion battery than there is lithium. Demand for graphite is expected to rise as electric vehicles and lithium battery technology are adopted as well as increasing uses in new technology applications. A recent European Commission study regarding the criticality of 41 different materials to the European economy included graphite among the 14 materials high in both economic importance and supply risk (Critical Raw Materials for the EU, July 2010).
ON BEHALF OF THE BOARD
Chris Bogart
President & CEO
Cautionary Statement:
The foregoing information may contain forward-looking statements relating to the future performance of Standard Graphite Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Standard Graphite's Corp.'s filings with the appropriate securities commissions.
Neither the 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 Information
Standard Graphite Corporation
Chris Bogart
President & CEO
604.683.2509
604.683-2506 (FAX)
info@standardgraphite.com
www.standardgraphite.com