Northern Graphite Corp V.NGC

The future is bright...from CEO..survive today?

[GripnRip]

However, commodity and financial markets remain difficult and in the second quarter the Company was not able to meet all the financial covenants for its senior secured loan and royalty financing, including making the required interest and royalty payments.  All defaults have been waived by the lender and royalty holder and discussions are ongoing with respect to amending the terms of our senior secured loan and royalty financing. While the current situation is challenging, the long term outlook for our strategy to sell to the EV battery space remains strong and we continue to implement  measures to enable the Company to weather the prevailing environment and carry us through until graphite markets recover

OUCH...take a pay cut...all

[1student]

Granting 1,700,000 stock options to certain employees pursuant to the Company's Stock Option Plan. Additionally, the Company has granted a total of 5,100,000 restricted share units ("RSUs") to certain officers and employees pursuant to the Company's Deferred Share Unit and Restricted Share Unit Compensation Plan This company is literally in default of it senior secured debt