Northern Graphite Corporation completed the acquisition of two graphite assets from Imerys SA on May 2, 2022.

1. Lac des Iles (LDI) Mine in Quebec, Canada: A producing graphite mine that has been operational for over 20 years.

2. Okanjande Graphite Deposit and Okorusu Processing Plant in Namibia: A graphite deposit and processing facility, which had been on care and maintenance since 2018.

Northern Graphite raised approximately US$55 million to finance the acquisition and related expenses.

This acquisition positioned Northern Graphite as the third-largest non-Chinese producer of natural graphite globally and the only significant producer in North America. The company plans to invest in upgrading the Namibian processing plant and expanding production to meet the growing demand for graphite in electric vehicles and battery applications.

DLA Piper Canada acted as legal advisors for Northern on the acquisition and financings, with a transaction team led by Vaughn MacLellan and which included Ilia Danef, Alan Monk, Kevin Fritz, Jamie Mandell, Alexandre Lamoureux, Natalie Prange, Tania Da Silva, Matt Demeo and Rownock Zamani (articled student).