Big North Drops El Tejon Option
BIG NORTH GRAPHITE CORP. announces that further to its news release issued on June 5, 2015, the Company has decided that it will not proceed with its option on the El Tejon property. As a result of falling graphite prices, currently at a four year low, and current market conditions, the Company is unable to maintain property payments and to move the El Tejon project forward. Pursuant to the terms of the acquisition agreement, the Company is in the process of returning the El Tejon property to the vendors, at which time, Big North will have no further obligations or liabilities with respect to the El Tejon project.