LATEST
La Scuola Laica in Un Paese Musulmano: Il Caso dell’Azerbaigian E La Reazione Della TurchiaEuropean Publishers Call Out Meta for Revised Wording on EU Content Use Terms and Urge Commission ActionWill Artificial Intelligence Replace the Doctor—or Set the Doctor Free?The SJH Group Celebrates Quality Journalism as Official Sponsor of London Press Club Awards 2026Are Vintage Pokémon Cards an Asset Class? A New Index Says +197% Since 2021, Ahead of Gold, Bitcoin and the S&P 500‘An Attack on Free Speech’: Amnesty Exposes University Crackdown on Palestine SolidarityBritain Saw the Evidence of Gaza Atrocities and Kept the Arms FlowingPress Publishers Slam EU Digital Omnibus Council Deal That Threatens Funding of Journalism and Citizens’ Access to NewsDiabeloop Announces the Completion of Its Balance Sheet Restructuring and Looks Ahead to the Next Phase of Its DevelopmentNew Analysis Examines Russia's Satellite Network and Emerging Drone ThreatsLa Scuola Laica in Un Paese Musulmano: Il Caso dell’Azerbaigian E La Reazione Della TurchiaEuropean Publishers Call Out Meta for Revised Wording on EU Content Use Terms and Urge Commission ActionWill Artificial Intelligence Replace the Doctor—or Set the Doctor Free?The SJH Group Celebrates Quality Journalism as Official Sponsor of London Press Club Awards 2026Are Vintage Pokémon Cards an Asset Class? A New Index Says +197% Since 2021, Ahead of Gold, Bitcoin and the S&P 500‘An Attack on Free Speech’: Amnesty Exposes University Crackdown on Palestine SolidarityBritain Saw the Evidence of Gaza Atrocities and Kept the Arms FlowingPress Publishers Slam EU Digital Omnibus Council Deal That Threatens Funding of Journalism and Citizens’ Access to NewsDiabeloop Announces the Completion of Its Balance Sheet Restructuring and Looks Ahead to the Next Phase of Its DevelopmentNew Analysis Examines Russia's Satellite Network and Emerging Drone Threats
Business

Canada Carbon Enters into Memorandum of Understanding with Irondequoit Carbon Co., LLC for Sale of Graphite

Richard Powell  2 min read

Canada Carbon Inc. (TSX-V:CCB) (the “Company”) is pleased to announce that it has entered into a memorandum of understanding (“MOU”) with Irondequoit Carbon Co., LLC (“Irondequoit”) providing for a potential future joint venture and the sale of a minimum of 25% of the graphite produced from the Company’s Miller deposit located in Grenville-Sur-La-Rouge, Quebec (the “Subject Graphite”).

  Under the terms of the MOU, Irondequoit will have the exclusive right for a period of three years (subject to extension) to conclude binding offtake agreements with certain entities engaged in the aerospace, high performance lithium battery energy storage, and other high margin verticals.  Additionally, Irondequoit will assist the Company with its efforts to raise the capital necessary to build a primary processing operation for graphite on the site of its Miller deposit.  Finally, the MOU contemplates the formation of a joint venture arrangement with the following primary objectives:  
  1. Commitment of a minimum of 25% of the Subject Graphite from Miller;
  2. Development of a value-added processing operation in the United States (likely in New York State);
  3. An economic construct whereby the Company and Irondequoit will share net profits from the joint venture on a 50/50 basis.
  Ellerton Castor, Chief Executive Officer of the Company comments: “Canada Carbon is very excited to work with Irondequoit on what is a major step toward the commercialization of the Company’s Miller Graphite Deposit.  This MOU lays the groundwork for a pathway which could expedite achievement of the Company’s longstanding objectives in the safe, responsible, and profitable development of the Miller deposit. Irondequoit is an excellent partner, who brings a very complimentary set of capabilities to the contemplated venture.  We really look forward to working together in the coming months.”   

Stefan Hawrylak, spokesperson for Irondequoit comments: “Irondequoit is pleased to work with Canada Carbon to solidify sustainable long-term government as well as defence and aerospace industry customers as part of the commercialization of Canada Carbon’s Miller Graphite Deposit. 

  Developing this secure Canadian deposit of ultra-high-purity nuclear graphite, having achieved 99.9998% Ct purity utilizing commercially available nuclear graphite thermal upgrading, is integral to the long-term national security of Canada and the United States. Irondequoit will endeavor to work with the various defense and aerospace industry stakeholders to bring this critical source of natural graphite to market.  We look forward to collaborating with Mr. Castor and the team at Canada Carbon.”

Related articles

Top