August 16, 2012
Standard Graphite Closes Non-Brokered Private Placement for $787,500
NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, BC - August 16, 2012 - Standard Graphite Corp. (TSXV: SGH) (the "Company") is pleased to advise further to its news release dated August 10, 2012, it has received TSX Venture Exchange approval of its non-brokered private placement for 5,250,000 units (the "Units") at a price of $0.15 per Unit.
The net proceeds from this private placement will be used for additional exploration on the Company's Quebec and Ontario properties.
Finders' fees of 7% cash ($55,125) of the gross proceeds received by the Company from the sale of Units sold pursuant to the Financing were paid, in addition to the Company granting compensation options entitling the holder to purchase that number of Units equal to 10% of the total number of Units sold (525,000) pursuant to the Financing, exercisable in whole or in part at the price of the Units for a period of 24 months from the closing of the Financing. All finders' fees were paid in accordance to the policies of the TSX Venture Exchange.
All securities issued pursuant to the Financing will be subject to a four month and one day hold period from the date of closing of the Financing.
About Standard Graphite
Standard Graphite Corp is focused exclusively on the exploration and development of a large portfolio of flake graphite properties in Canada. The company is rapidly positioning itself as North America's premier pure-play graphite exploration & development company. Standard is controls 100% interest in 13 highly prospective graphite properties including the historic graphite deposit on its Mousseau East property. An aggressive 2012 exploration strategy and drill program has commenced and will be implemented by a geologic team with the pedigree of a previous world-class graphite discovery.
ON BEHALF OF THE BOARD
"Chris Bogart"
President & CEO
For further information, contact:
Corporate Information
Standard Graphite Corp.
Chris Bogart
President & CEO
Tel: (604) 683-2509 Fax: (604) 683-2506
info@standardgraphite.com
www.standardgraphite.com
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Talk about stiffing the loyal shareholders!
Glad I never bought any of these shares at the much,much higher prices!
My opinions are my own and and DD I post should be confirmed as unbiased
