Vancouver, B.C. / ACCESSWIRE / January 22, 2015 / BIG NORTH GRAPHITE CORP. (TSX-V: NRT) (the "Company" or "Big North"), announces that Flinders Resources Limited ("Flinders") has notified Big North that it has terminated the binding letter agreement between the companies which was first announced in the Company's press release of September 2, 2014 (see also the press releases dated October 21, 2014, November 3, 2014 and December 1, 2014 for further details).
In commenting on the letter agreement being terminated, Spiro Kletas, the President and CEO of Big North stated, "While we are disappointed that the proposed transaction with Flinders will not proceed, we remain enthusiastic about Big North's future and the potential of the El Tejon project. Big North will continue to assess strategic opportunities and will announce developments as appropriate".
About Big North Graphite Corp.
Big North is a graphite development and exploration company focused on select projects in Mexico and Canada.
In 2014, Big North Graphite acquired the past producing El Tejon flake graphite mine and mill in Oaxaca, Mexico. Big North is poised to capitalize on the increasing strategic demand for graphite throughout the world, a demand that is being driven by the growth in new, green technologies including the lithium ion batteries that are being used in hybrid and fully electric vehicles.
Big North also owns high priority, large flake graphite exploration projects in Ontario and Quebec, Canada.
For further information please contact Spiro Kletas at (604) 629-8220.
ON BEHALF OF THE BOARD
(signed) "Spiro Kletas"
Spiro Kletas
President and Chief Executive Officer
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.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
SOURCE: Big North Graphite Corp.