Great Lakes Graphite Inc. outlined plans to rebrand as NovoCarbon Corp., with its shares expected to resume trading on the TSX Venture Exchange on May 17.
The company also created a U.S. subsidiary under the name NovoCarbon Inc., according to its May 16 news release.
Great Lakes Graphite proposed a name change to New Energy Metals & Minerals in February, but Darien Resource Development Corp. subsequently announced plans for a name change to New Energy Metals Corp., leading Great Lakes to choose a different name.
Additionally, the company signed a definitive agreement with Saint Jean Carbon Inc. to sell 100% of its Lochaber graphite property in Quebec, after agreeing on the terms of the deal in February.
Great Lakes Graphite will hold a special shareholder meeting to secure approval for various matters including a change of business due to the sale of Lochaber and a new strategy to source material rather than produce it itself.