|Great Lakes Graphite Announces Purchase Orders From U.S. Industrial|
TORONTO, ONTARIO--(Marketwired - Feb. 16, 2016) - Great Lakes Graphite Inc. ("Great Lakes", "GLK" or the "Company") (TSX VENTURE:GLK)(OTC PINK:GLKIF)(FRANKFURT:8GL) is pleased to announce it has received two purchase orders from a large, Texas-based industrial company whose initial requirement consists of 40 tonnes of micronized graphite products in total. These purchase orders are the first ever to be received by Great Lakes and originate from a customer who, through this relationship, expects to source a significant volume of micronized graphite on an on-going basis.
Senior Vice President of Sales Mike Coscia commented, "These initial orders represent an important outcome of a process that has been ongoing for several months now. In this case, we worked closely with a customer who is developing a solution with stringent performance requirements. Identifying the right product for their application required an iterative process of testing various products and blends and working collaboratively to find the right solution. We believe this model works well for Great Lakes and enables customers to benefit from our substantial experience with graphite and other industrial minerals."
Great Lakes CEO Paul Gorman added, "The focused efforts of our team working together with our valued partners have enabled us to achieve this critical milestone. Commissioning of the facility is underway and with our first purchase orders in hand, we are now executing the next phase of our business plan."
Product Qualification Progress Update
Over the past several months, Great Lakes Graphite has been working with prospective customers to qualify graphite products for a range of applications in specific markets. By working in parallel with a limited number of select prospects, Great Lakes has made significant progress in demonstrating the suitability of GLK's micronized graphite products and qualifying them for use in the following product areas:
The length of time required and the complexity of the qualification process varies by application. Generally, applications with less stringent performance requirements can often be qualified in a few months. Conversely, applications with demanding requirements for a variety of performance characteristics often require graphite of very high purity and substantially more time to complete qualification, due to the variety and complexity of testing as well as the testing iterations that are typically performed.
| ||Lubricants - greases and lubricating fluids and sprays|
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| ||Friction Products - automotive brake pads|
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| ||Batteries/Energy Storage - anode material for lead-acid batteries and LiOH batteries|
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| ||Conduction - thermal and electrical conductors for chemical manufacturing|
Sr. Vice President of Sales Mike Coscia said, "We are in the process of qualifying several products. Our first priority is the micronized graphite products we are preparing to deliver in quantity in the near term and on applications that have relatively shorter qualification periods.
We are complementing that effort with a sampling program for prospects that require high purity micronized graphite. The long qualification times required for the high purity markets require us to begin working with prospective customers now. Feedback obtained during this process will inform decisions we need to make regarding the production of high purity micronized graphite.
Working with a representative sample of our targeted customer base has been enormously helpful and provides insight into what customers are seeking that you simply cannot get any other way. When we collaborate with our customers to solve their challenges, we are providing real value, earning credibility and firmly establishing our brand in the market."
About Great Lakes Graphite: Great Lakes Graphite Inc. is an industrial minerals company focussed on bringing value-added carbon products to a well-defined market.
The Company's Innovation Division has entered into long-term agreements for use of the Matheson Micronization Facility and for supply of high quality natural graphite concentrate (see news release dated 03/23/15) which are positioning 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 101,227,645 shares outstanding (145,354,238 fully diluted).
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 includes, but is not limited to, statements regarding the two purchase orders recently received by a Texas-based industrial company. 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.
Chief Marketing Officer