NEW YORK, NY / ACCESSWIRE / November 16, 2016 / Next Graphite, Inc. (OTC PINK: GPNE) ("Next Graphite," "GPNE" or the "Company"),
a graphite development company in the African Republic of Namibia and license holder of the Aukam vein project, is pleased to
announce that its joint venture partner, CKR Carbon Corporation, Toronto, Canada, has raised gross proceeds of CD $1,087,979
pursuant to the brokered private placement led by First Republic Capital Corporation announced on October 17, 2016. All securities
issued pursuant to the Offering are subject to a four-month hold period expiring on March 5, 2017.
Use of the net proceeds from the sale of these securities includes underground exploration, drilling and sampling at Next
Graphite's Aukam Graphite Mine in Namibia required to apply for a mining permit and working capital.
"This latest raise will allow our JV partner to accelerate activities and complete Phase 3 of our farmout agreement for the
Aukam mining site that culminates in a full mining license," said Cliff Bream CEO of Next Graphite. "That triggers the final Phase
4 and construction of our new processing facility, when revenue per ton will increase from approximately $400 (unprocessed
graphite) to $3,000 (high quality processed graphite). We want to stay on our timetable to fulfill orders for the JV's 10 year
supply agreement announced October 10, as well as other anticipated orders."
About Next Graphite, Inc.:
Next Graphite, Inc. is a development stage company targeting the growing global graphite production industry with the Company's
Africa-based Aukam Graphite Project. The Aukam Graphite Mine was established in 1940 in the current Republic of Namibia and
produced USD $30 million of graphite at today's prices. The site is located on approximately 96,000 acres (34,082 hectares) in
southern Namibia close to the port city of Luderitz and is estimated to contain a significant amount of high grade, vein type
graphitic material.
The property hosts three underground adits that were mined periodically between 1940 and 1974. Five dumps from the historical
mining occur on the property and 73 samples from the lower three dumps were assayed and averaged 42% Cg. Next Graphite's joint
venture has completed a bulk-sampling program at Aukam, and the joint venture has a letter of intent to sell the graphitic material
produced during the program. Findings to date have reinforced Next's intent to put the historical mine back into production. The
Company is working to transition from its current exploratory license to a full mining license and build a new graphite processing
facility. Next's joint venture in Namibia maintains high safety and environmental standards and has a comprehensive strategy of
social engagement.
For more information, please visit: www.nextgraphite.com.
Safe Harbor Statement:
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Next
Graphite Inc.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward
looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and
acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any
statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic
conditions or performance; uncertainties related to conducting business in Africa, as well as all assumptions, expectations,
predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking
statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking
statements. Among others, could cause actual results to differ from those set forth in the forward-looking statements: business
conditions in Africa, general economic conditions; geopolitical events and regulatory changes, availability of capital, the
Company's ability to maintain its competitive position and dependence on key management. This press release does not constitute an
offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of such jurisdiction.
CONTACT:
Steve Nichols TaconicMedia@AOL.com (210) 260-3125
SOURCE: Next Graphite, Inc.
