TORONTO, Feb. 26, 2018 (GLOBE NEWSWIRE) -- Alabama Graphite Corp. (“Alabama Graphite” or the “Corporation”) (TSX-V:CSPG) (OTCQB:CSPGF) (FRANKFURT:1AG) today announced that Institutional Shareholder Services Inc. (“ISS”) and Glass, Lewis & Co., LLC (“Glass Lewis”), two leading proxy advisory firms, have recommended that the securityholders of Alabama Graphite vote FOR the plan of arrangement (the “Arrangement”) whereby Westwater Resources, Inc. (“Westwater”) (NASDAQ:WWR) will acquire all of the issued and outstanding common shares of Alabama Graphite, at the Corporation’s special meeting of securityholders to be held on March 9, 2018 (the “Special Meeting”).

ISS, for its part, cited the reasonable strategic and financial rationale in recommending that the securityholders of Alabama Graphite vote in favour of the Arrangement. ISS anticipates that the Arrangement will allow shareholders of Alabama Graphite to participate in the growth potential and future value creation of Westwater while also benefitting from Westwater’s enhanced capital markets profile and liquidity.

“We are pleased that the proposed plan of arrangement with Westwater has gained the support of ISS and Glass Lewis,” said Tyler Dinwoodie, President of Alabama Graphite. “The recommendations of these reputable, independent proxy advisors bolster our belief that this arrangement transaction is the best choice for Alabama Graphite’s business, prospects and securityholders going forward.”

ATTENTION ALABAMA GRAPHITE SECURITYHOLDERS
The securityholders of Alabama Graphite are reminded to vote their proxy before 11:00 a.m. (Eastern Standard time) on Wednesday, March 7, 2018. Management and the board of directors of both Westwater and Alabama Graphite, as well as the Special Committee of Alabama Graphite’s board of directors, are unanimously in support of the Arrangement. For more information and assistance in voting your proxy, please contact Laurel Hill Advisory Group, at:

  • North American Toll-Free Number: 1-877-452-7184
  • Collect Calls Outside North America: 416-304-0211
  • Email: assistance@laurelhill.com

SPECIAL MEETING FOR SECURITYHOLDERS
At the Special Meeting, securityholders will be asked to approve the Arrangement in accordance with the terms of an arrangement agreement dated as of December 13, 2017 (the “Arrangement Agreement”). Securityholders are encouraged to review the management information circular of Alabama Graphite dated February 7, 2018 (the “Circular”), which provides further details of the Arrangement. The Arrangement remains subject to certain closing conditions, including approval by the securityholders and the Supreme Court of British Columbia, and is expected to be completed in the second quarter of 2018.

The Circular and related voting materials (the “Meeting Materials”) have been filed on SEDAR and are also available at www.alabamagraphite.com. Securityholders are urged to carefully review the Meeting Materials, as they contain important information regarding the Arrangement and its consequences to securityholders.

On behalf of the Board of Directors of
ALABAMA GRAPHITE CORP.

Gareth P. Hatch, PhD, CEng, FIMMM, FIET
Chief Executive Officer and Executive Director

ABOUT ALABAMA GRAPHITE CORP.
Alabama Graphite is a Canadian-based flake graphite exploration and development company as well as an aspiring battery materials production and technology company. Alabama Graphite operates through its wholly owned subsidiary, Alabama Graphite Company, Inc. (a company registered in the state of Alabama).

For more information on Alabama Graphite, please visit www.alabamagraphite.com.

ABOUT WESTWATER RESOURCES, INC.
Westwater (formerly Uranium Resources, Inc.) is focused on developing energy-related minerals. Westwater has developed a dominant land position in three prospective lithium brine basins in Nevada and Utah in preparation for exploration and potential development of any lithium resources that may be discovered there. In addition, Westwater remains focused on advancing the Temrezli in-situ recovery (ISR) uranium project in Central Turkey when uranium prices permit economic development of this project.

For more information on Westwater, please visit www.westwaterresources.net.

FORWARD-LOOKING STATEMENTS
This press release contains forward-looking information under applicable Canadian securities laws (“forward-looking statements”), which may include, without limitation, the current expectations of management of Alabama Graphite, ISS and Glass Lewis regarding the Arrangement and its consummation, including whether conditions to the consummation of the Arrangement will be satisfied, the timing for the Special Meeting, the final approval of the Arrangement from the Supreme Court of British Columbia and the timing for completing the Arrangement.The forward-looking statements are based on the beliefs of management and reflect Alabama Graphite’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may”, “will” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current view of Alabama Graphite. Completion of the Arrangement is subject to a number of conditions which are typical for transactions of this nature. Failure to satisfy any of these conditions, the emergence of a superior proposal or the failure to obtain the approval of the securityholders of Alabama Graphite and shareholders of Westwater, as well as court approval, may result in the termination of the Arrangement Agreement.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and Alabama Graphite undertakes no obligation to update forward-looking statements (unless required by law) if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

Alabama Graphite has also assumed that the material factors and assumptions will not cause any forward-looking statements to differ materially from actual results or events. However, the list of these factors and assumptions is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

CONTACT

Alabama Graphite Corp.
Tyler W. P. Dinwoodie

President
+1 (416) 309-8641
tdinwoodie@alabamagraphite.com