Alabama Graphite Corp. ("AGC" or the "Company") is very pleased to announce that further to its June 23, 2016 announcement ('Alabama Graphite Corp. Announces Shipment of American Sourced and Manufactured CSPG Samples to United States Department of Defense (DoD) Lithium-ion Battery Solutions Provider'), the Company has manufactured and shipped three one-kilogram evaluation samples of its Purified Micronized Graphite ("PMG") to a U.S.-based leader in both Lithium-ion ("Li-ion") and lithium batteries for a diverse range of military applications under contract from the United States Department of Defense ("DoD"). AGC conveyed sub-10 micron, fine-sized PMG made from the Company's Coosa Graphite Project material - located in Coosa County, Alabama, USA - that will be tested in various defense applications; specifically, primary (non-rechargeable) lithium batteries. All requisite downstream secondary processing to manufacture Coosa PMG was conducted in the United States of America.
Employing nearly 700 people, this international battery company is known for its extensive expertise and experience in battery development for the DoD. Although government and defense accounts for the vast majority of the battery manufacturer's revenues, it designs and manufacturers both primary and secondary (rechargeable) lithium batteries for multiple other industries, including healthcare/medical, critical stationary energy storage, safety, and industrial markets. The aforementioned company will remain unnamed for reasons of commercial confidentiality.
Execution of Additional NDAs with U.S. DoD Li-ion Battery Manufacturers
Further to AGC's July 18, 2016 announcement ('Alabama Graphite Corp. Announces the Execution of Six Non-Disclosure Agreements with U.S Department of Defense Lithium-ion Battery Solution Providers for Coated Spherical Graphite ("CSPG") Samples'), the Company announces the execution of an additional two non-disclosure agreements ("NDAs") with U.S. DoD lithium-battery manufacturers and suppliers for the purpose of carrying on discussions and due-diligence evaluation of samples of AGC's American-sourced and -manufactured CSPG and PMG for use in lithium batteries. These two new agreements bring AGC's total of DoD-related agreements to eight currently, and are in addition to the multiple NDA agreements AGC has entered into with U.S.-based entities that are not affiliated with the U.S. DoD.
AGC's President, Chief Executive Officer, and Executive Director, Donald Baxter commented, "As we continue to advance our CSPG and PMG graphite initiatives, I am extremely pleased to report that we have conveyed a significant-sized sample of our 100% U.S. sourced and manufactured battery-ready material to yet another DoD manufacturer. This multi-kilogram shipment is important because it demonstrates that we can produce battery-ready graphite to a battery manufacturer's precise specifications, and as importantly, that we can do so in comparatively significant quantities - with a very short lead time.
"This particular DoD battery manufacturer requested samples of both AGC's CSPG and PMG materials. The company required kilogram quantities of PMG immediately for a primary lithium application development project. Additionally, we are preparing CSPG samples for this and multiple other DoD contractors. The interest we have received thus far from U.S. DoD battery manufacturers for our battery-ready graphite is extremely encouraging," stated Mr. Baxter.
AGC will continue to update shareholders and the market in a timely fashion of further material developments with respect to this and other potential American-based end users, as we are able to disclose. Please note, certain potential end users preclude the Company from announcing any aspect of its relationship and activities, ranging from the execution of an NDA to the shipment(s) of sample material(s).
AGC Announces Granting of Stock Options
Further to AGC's August 8, 2016 announcement ('Dr. Gareth Hatch Appointed to the Board of Directors of Alabama Graphite Corp.'), the Company announces that it has granted incentive stock options to purchase up to 400,000 common shares at an exercise price of $0.15 per share for a period of two years to Dr. Hatch, in accordance with the provisions of its stock-option plan.
On behalf of the Board of Directors of
ALABAMA GRAPHITE CORP.
Donald K. D. Baxter, P.Eng., President, Chief Executive Officer and Executive Director
Donald K. D. Baxter, P.Eng., President, Chief Executive Officer and Executive Director of Alabama Graphite Corp., is a Qualified Person as defined by National Instrument 43-101 guidelines, and has reviewed and approved the content of this news release.