NORTHERN GRAPHITE TO NOT EXECUTE OR EXTEND OPTION TO ACQUIRE STAKE IN NEOGRAF SOLUTIONS
NORTHERN GRAPHITE ORD (NGPHF)
Company Research
Source: PR Newswire
CLEVELAND, March 8, 2024 /PRNewswire/ -- NeoGraf Solutions, LLC ("NeoGraf"), a leading provider of specialty, value-added industrial products manufactured from natural graphite, upon consultation with Northern Graphite Corporation (NGC:TSX-V, NGPHF:OTCQB, FRA:0NG, XSTU:0NG) ("Northern") acknowledges the decision to not to exercise or extend its agreement with Edgewater Capital Partners ("Edgewater") to acquire a stake in NeoGraf.In response, NeoGraf Chief Executive Officer Natesh Krishnan stated, "We remain committed to our longstanding commercial partnership with Northern and look forward to exploring alternative avenues of collaboration in the future."Northern Graphite's Chief Executive Officer, Hugues Jacquemin emphasized, "Given current market conditions, it is in the best interests of our shareholders and the Company not to proceed with the investment at this time. However, our commitment to innovation and collaboration between our two businesses remains unwavering."As one of Nor
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