Vancouver, BC -- August 12, 2016 -- Standard Graphite Corp. (TSXV: SGH)
(the 'Company' or 'Standard') announces subject to TSX Venture Exchange ('Exchange') approval, has agreed to settle an aggregate amount of $348,275 owed to related and non-related parties (the 'Debt Settlement') to be settled by the issuance of approximately 4,975,356 common shares at a deemed issue price of $0.07 per share.
The securities issued pursuant to the Debt Settlement will be subject to a four-month hold period from the date of issuance. Completion of the Debt Settlement is subject to acceptance by the Exchange.
About Standard Graphite
Standard is rapidly positioning itself as a premier gold explorer and developer in Quebec. Standard is currently advancing Philibert and Diego Gold projects managed by a team with extensive expertise in resource exploration, finance and management.
ON BEHALF OF THE BOARD
'Chris Bogart'
President & CEO
For further information, contact:
Corporate Information
Standard Graphite Corp.
Chris Bogart
President & CEO
Tel: (604) 683-2509 Fax: (604) 683-2506
[email protected]
www.standardgraphite.com
Cautionary Statement:
Forward-looking information
This news release contains forward-looking information relating to the Company's growth and corporate strategy, and other statements that are not historical facts. Forward-looking information relates to management's future outlook and anticipated events or results, and may include statements or information regarding the Shares for Debt Settlement; and the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.
Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks and uncertainties associated with oil and gas exploration, development, exploitation, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.