January 6, 2020, Vancouver – Ceylon Graphite Corp. (“Ceylon Graphite”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) today announced that Don Baxter has joined the Board of Directors of the company.
Don Baxter is one of the premier graphite experts outside of China, having built one of only two producing graphite mines in North America. He is presently Chief Executive Officer and Director of Applied Graphite Technologies Corp. Prior to this, Don served as President, CEO and Executive Director of Alabama Graphite Corp, successfully completing the company’s disruptive Preliminary Economic Assessment (PEA) and introducing a new, batteryfocused strategy
“Don brings to Ceylon experience, ideas and capabilities we cannot find anywhere else,” said Bharat Parashar, Chief Executive Officer. “Now that we are in commercial production, we will benefit from his expertise as we invest to ensure we have top quality upgraded graphite for the growing lithium-ion battery market.”
As President and Chief Operating Officer of Focus Graphite Inc., Don led Focus Graphite to wide recognition in the graphite industry, updated the company’s PEA and advanced the company to a completed Feasibility Study. He was also responsible for rapidly advancing the development of value-added graphite products, namely coated spherical purified graphite for the lithium-ion battery sector. Prior to Focus, Don served as President of Northern Graphite Corporation and was responsible for all technical aspects relating to the Bissett Creek graphite project, including the company’s Feasibility Study, metallurgical test work, environmental and mine permitting, as well as developing batteryrelated graphite products.
“I’m excited to join the Board of Ceylon,” said Baxter. “As I look at the market today and the incredible demand for high quality graphite products, I see that Ceylon is the real deal – a production level operation, with purity and easy upgradability you cannot find elsewhere. The potential is incredible.”
Don also served as Mine Superintendent at the Kearney Graphite Mine and was Director of Mining at Ontario Graphite Ltd. Don holds a degree in Mining Engineering from Queen’s University, is a Registered Professional Engineer and, is a past member of the Board of Directors of the National Association of Advanced Technology Batteries International (NAATBatt International) — a US- based not-for-profit trade association commercializing advanced electrochemical energy-storage technology for emerging, high-tech applications — and is a ‘Qualified Person’ as defined by National Instrument 43-101 (NI 43- 101) guidelines.
About Ceylon Graphite Corp.
Ceylon Graphite Corp, is a public company listed on the TSX Venture Exchange (CYL:TSX-V), that is in the business of exploration and development of graphite mines in Sri Lanka. The Government of Sri Lanka has granted the company exploration rights in a land package of over 120km². These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka. Graphite mined in Sri Lanka is known to be some of the purest in the world, and currently accounts for less than 1% of the world graphite production.
Qualified Person
Robert Marvin, P. Geo (ONT) is a Qualified Person under National Instrument 43-101 and has reviewed and approved the geological information provided in this news release
Forward-Looking Information
This press release contains forward-looking information based on current expectations. Statements about the acquisition or disposition of securities of the Company by the Acquiror, among other things, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of the Company. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: changes in laws, general economic and business conditions; and changes in the regulatory regime. The final exchange bulletin will not be issued if the Exchange determines that the Company has not met the conditions set out in the Exchange’s conditional approval letter. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information or for a copy of the early warning report filed with the relevant Canadian Securities regulators in conjunction with this news release please contact Optimal Energy B.V., Attention: Jody Lenihan at 949.677.2299.
These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
Further information regarding the Company is available at www.ceylongraphite.com
Bharat Parashar, Chairman & Chief Executive Officer
Corporate Communications
(604) 559-8051
