TORONTO, July 10, 2018 (GLOBE NEWSWIRE) -- Great Lakes Graphite Inc., doing business as NovoCarbon Corporation, (“GLK”, “NovoCarbon” or the “Company”) (TSX-V:GLK) (OTCQB:GLKIF) (FWB:8GL) today announces the appointment of Richard Baxter as a Director of the Company, subject to approval by the TSX Venture Exchange.
Following a career in investment banking, Richard Baxter spent 20 years in the energy storage industry. Mr. Baxter works with senior executives to craft corporate strategy, including partnerships, raising capital, mergers, acquisitions and divestitures. Richard works with clients to help them develop achievable corporate and division goals through market and regulatory assessment, financial and economic analysis, and competitive positioning.
Richard is currently consulting for the US Department of Energy to produce market research on pricing of alternative energy generation and storage systems. Richard is the author of “Energy Storage: A Nontechnical Guide”, PennWell Publishing and a frequent speaker at industry conferences, including Energy Storage North America (ESNA), the New York Battery and Energy Storage Technology (NY-BEST) Consortium and The Battery Show.
Mr. Baxter said, “NovoCarbon is establishing itself at a time when the market they are entering is poised for an extended period of dramatic growth. I am impressed by what the team has accomplished to date an am very much looking forward to furthering their efforts in a number of areas.”
CEO Paul Gorman said, “I join my colleagues on the Board of Directors in welcoming Richard Baxter as our newest member. Richard’s work in the investment banking industry and consulting to the battery and energy storage industries has honed his considerable financial and business acumen and enabled him to cultivate an extensive network of contacts built over two decades of working in the industry. Richard is extremely knowledgeable and experienced in areas that are of critical importance to our growth going forward and is also highly respected and well-liked by his colleagues and business partners. We are very pleased to have Richard join our team.”
About NovoCarbon Corporation: NovoCarbon is a Clean Technology Minerals Processing Company supplying 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, NovoCarbon is one of the first new domestic suppliers to a growing regional customer base. We continually work to deliver products of the best quality with outstanding customer service.
The Company is party to an agreement for long-term supply of high quality natural graphite concentrate from Brazil. NovoCarbon is presently working with an established US-based processor for toll micronization services. The Company has partnered with Ashland Advanced Materials for commercial-scale purification operations at Ashland’s 110,000 square foot purification facility located in Niagara, New York.
Through our partner relationships, NovoCarbon began selling micronized synthetic graphite beginning in 2016 and now supplies micronized and high purity micronized natural flake graphite products to a growing customer base.
NovoCarbon trades as GLKIF on the OTCQB market in the US and as GLK on the TSX Venture Exchange in Canada. There are currently 132,656,830 shares outstanding.
Note: The current legal name of the corporation is Great Lakes Graphite Inc., which is doing business as NovoCarbon Corporation until final approval by the shareholders and the TSX Venture Exchange.
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Chief Executive Officer
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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.