/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
TORONTO, Oct. 29, 2012 /CNW/ - Mason Graphite Inc. (formerly POCML 1 Inc., "Mason Graphite" or the "Company") is pleased to announce that the TSX Venture Exchange has granted approval for the listing of its common shares. Mason Graphite shares will begin trading tomorrow, October 30, 2012, at market open under the ticker symbol "LLG" as a Tier 2 Issuer.
Benoît Gascon, CEO of Mason Graphite commented, "We are very excited to begin trading on the TSX Venture and give investors the opportunity to be part of the development of our Lac Guéret graphite project in Quebec."
|TSX Venture Trading Symbol|
| Equity Financial Trust Corporation
200 University Avenue, Suite 400
Toronto ON M5H 4H1
Tel: (416) 361-0152
Fax: (416) 361-0470
|57520W100 (CA 57520W1005)|
On October 15, 2012, the Company announced that it had completed its qualifying transaction with Mason Graphite Corp., whereby all of the outstanding shares of Mason Graphite Corp. were exchanged for common shares of the Company on a one-for-one basis. As a result 51,229,989 shares were issued by the Company to former Mason Graphite Corp. shareholders, on a non-diluted basis, including 8,634,000 shares (representing 15.2% of the issued and outstanding shares of the Company on a non-diluted basis) which were issued to Fahad Tamimi, a resident of Riyadh, Saudi Arabia. As part of this transaction, the name of the Company was changed to "Mason Graphite Inc." Please see the Company's filling statement dated September 15, 2012, or press releases dated July 16, 2012 and October 16, 2012, for full details of the transaction. These documents are available on the Company's website, www.masongraphite.com, or on its SEDAR profile at www.sedar.com.
About Mason Graphite
Mason Graphite is a Canadian mining company focused on the exploration and development of its 100% owned Lac Guéret graphite property, which is located in northeastern Québec near the main service center of Baie-Comeau. The Lac Guéret graphite property currently hosts a National Instrument 43-101 compliant Measured & Indicated Mineral Resource of approximately 7.6 million tonnes grading 20.4% Cgr (carbon as graphite)(see the news release issued by Mason Graphite on July 16, 2012). Exploration potential exists on the property with the current Mineral Resource based on exploration of only 17% of one well defined zone. Mason Graphite is led by Benoit Gascon, CA CMA, who has held 20 years of executive positions at Timcal, including over 6 years as CEO. Timcal, now owned by Imerys, is one of the largest graphite producer in the world.
Benoît Moreau, President and COO of Mason Graphite, is a Qualified Pesron as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release and has in no way passed upon the merits of the Transaction and has neither approved nor disapproved of the contents of this press release.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
Cautionary Statements Regarding Forward Looking Information
This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, Mason Graphite Corp. or the resulting issuer to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; * access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the resulting issuer; (xii) the risks associated with the various environmental regulations the resulting issuer is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through the issue of resulting issuer common shares; (xviii) the resulting issuer does not anticipate declaring dividends in the near term; (xix) the risk of litigation; and (xx) risk management.
Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company and Mason Graphite Corp. have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company, Mason Graphite Corp. and the resulting issuer's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company, Mason Graphite Corp. and the resulting issuer do not undertake to update such forward-looking information except in accordance with applicable securities laws.
SOURCE: Mason Graphite Inc.
For further information:
For more information about Mason Graphite visit www.masongraphite.com or contact:
65 Queen Street West, Suite 800
Toronto, Ontario M5H 2M5
+1 (416) 861-1685
Simon Marcotte, Corporate Development
+1 (416) 309-2133
2000 McGill College ave., Suite 2210
Montreal, PQ H3A 3H3
Benoît Gascon, CEO
+1 (514) 281-9434