TORONTO, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Eagle Graphite Incorporated (the "Company", "We", "Eagle") provides the following update for stakeholders:
As previously disclosed, trading in the Company's shares remains suspended. The Company has subsequently been delisted from the NEX.
Despite initial success in avoiding foreclosure, the holder of the Company's debt-originally incurred in connection with an offtake arrangement-has obtained control of all assets of Eagle's operating subsidiary, including the Black Crystal Graphite Quarry ("Black Crystal"), through a court-appointed receivership process initiated by the debtholder. Black Crystal was the core asset of the Company.
Management has explored various options to recapitalize the Company. However, given the circumstances, a viable path to recapitalization appears unlikely at this time. Without such recapitalization, the Company's future remains highly uncertain.
Jamie Deith, Eagle Graphite's CEO, states:
"I wish to express my heartfelt thanks to everyone who has supported our project over the years. It has been a privilege to work with and for you. I wish you all the very best."
Cautionary Statements
Disclosure Regarding Forward-Looking Statements: This release contains certain "forward-looking information" within the meaning of applicable securities legislation. Such information is based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking information and accordingly, readers should not place undue reliance on such information. Although we believe, in light of the experience of our officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because we can give no assurance that they will prove to be correct. Readers should carefully consider various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking information. Statements in this release are made as of the date of this release. We undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company or its securities, its financial or operating results.
Neither the TSXV, the NEX nor their Regulation Services Provider(s) (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Jamie Deith, CEO
604-909-4247
Email: info@eaglegraphite.info
