Northern Graphite clears $23.6M debt by issuing 12.5M shares
Northern Graphite settled its debt to Sprott Streaming with new shares, making Sprott its largest shareholder at 9.9%, according to TradingView.
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what happened
Northern Graphite Corporation settled about $16.0M of principal and $7.6M of accrued interest owed to Sprott Streaming by issuing 12.5M shares. According to TradingView, citing TMX Newsfile, the deal leaves Sprott with 9.9% and makes it the company's largest shareholder.
The amended Okanjande stream now covers all future production, and the 350,000-tonne cap and conversion option have been removed. Separately, about US$4.7M of royalty plus interest is payable first from certain future equity financing and IP licensing proceeds. The shares issued in the deal are subject to a four-month, one-day hold. The transaction still needs final TSXV acceptance; the exchange has given conditional approval.
why it matters
This is a completed balance-sheet restructuring: the senior secured debt is gone, but existing shareholders face dilution. For the graphite market the deal matters mostly as a signal about the financial position of a small producer rather than a sector event. Investors will look next for restart financing, operating timelines and progress on battery-anode development.
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sources
- Northern Graphite Corporation (NGC) Settles $23.6M Debt With 12.5M Shares — TradingView, 13 November 2026 at 12:45 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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