Ceylon Graphite Announces Amended and Restated Agreement Ceylon Graphite Announces Amended and Restated Agreement For Acquisition of Sarcon Development
Vancouver, BC, Feb. 07, 2023 (GLOBE NEWSWIRE) — Ceylon Graphite Corp. (“Ceylon Graphite” or the “Company”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) today announced that it has entered into an amended and restated agreement dated February 4, 2023 (the “Restated Agreement”) with a private vendor (the “Vendor”) based in Sri Lanka to amend and restate the terms of a purchase agreement dated September 12, 2012 , as amended (the “Initial Agreement”), whereby the Company’s wholly owned subsidiary incorporated in Curacao, Plumbago Refining Corp BV (“Plumbago”), acquired Sarcon Development Pvt Ltd. (“Sarcon”). Sarcon holds 116 high-grade graphite grids in the country of Sri Lanka, which grids represent the Company’s primary focus for exploration and development.
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