Big North Graphite Corp. (TSXV:NRT) announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.20 per unit for gross proceeds of up to CAD 2,000,000 on November 16, 2016. Each unit will consist of one common share and one-half of one common share purchase warrant, with each warrant exercisable into one additional common share at a price of CAD 0.30 for a period of 12 months from the date of closing of the transaction. In connection with the transaction, the company may pay finder's fees within the amount permitted by the policies of the TSX Venture Exchange. Closing of the transaction is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the transaction will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The transaction is not subject to a minimum aggregate amount of subscriptions.