In addition, Imerys S.A. ("Imerys") received US$4 million in equity of the Company on the same terms as the Private Placement, as partial payment of the purchase price for the LDI Project. The Company is now the only significant North American natural graphite producer and has acquired an established customer base and market share. Full details of the Acquisition are described in the "Mining Operations and Projects" section below and full details of the financing are described in the "Liquidity and Capital Resources / Financings" sections below.