Great Lakes Graphite receives 8 U.S. purchase orders

Oct 3, 2016

GREAT LAKES GRAPHITE RAMPS REVENUE GROWTH WITH NEW PURCHASE ORDERS FROM U.S. INDUSTRIAL

2016-10-03 09:52 ET – News Release

Mr. Paul Gorman reports

Great Lakes Graphite Inc. has received eight new purchase orders from its U.S. industrial customer. A total of 160 tons of micronized graphite have been ordered, doubling the amount of material requested by this customer, bringing the total quantity to date up to 300 tons.

Mike Coscia, senior vice-president of sales, added: “After several months of working together, we have built a strong relationship with this customer that is translating into a steady flow of repeat business. Based on recent discussions and an assessment of their ongoing requirements, we are moving as quickly as possible to formulate a supply agreement that will provide the customer with assurances of product quality and long-term supply, and provide Great Lakes with an improved production planning and scheduling capability, as well as visibility into ongoing ramped-up revenues.”

Great Lakes chief executive officer Paul Gorman commented on the new orders by saying: “With realized sales, Great Lakes Graphite is clearly distinguishing itself within the sector by executing a business model that has provided a fast path to revenue by obtaining customers, purchase orders and sustained micronized production. To date, Great Lakes has delivered 240 of the 300 tons which have been ordered. Payment has been received for five of the 15 purchase orders. At present, we are continuing to work with our partners to fulfill these orders by the end of November, or earlier.”

New product sample requests indicate strong potential for additional sales

In addition to the micronized material that this customer has been ordering from Great Lakes Graphite, the company has also recently provided samples for two additional graphite products for qualification. Guidance from the customer has indicated a high degree of confidence that these new products will meet its qualification requirements, and the customer has requested that the company prepare to begin fulfilling orders for these new products in the near term.

About Great Lakes Graphite

Great Lakes Graphite is an industrial minerals company focused on bringing value-added carbon products to a well-defined market.

The company is party to an agreement for shared use of a portion of an industrial facility located in Matheson, Ont., owned by Northfil Resources Ltd., as well as for the supply of high-quality natural graphite concentrate (see news release dated March 23, 2015).