Graphite One Announces Closing CA$10 Million IN Financings and Awarding of Options
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GRAPHITE ONE ANNOUNCES CLOSING CA$10 MILLION IN FINANCINGS
AND AWARDING OF OPTIONS
February 23, 2021 - Graphite One Inc. (GPH: TSX-V; GPHOF: OTCQB) (“Graphite One” or the “Company”)
announced today it has completed two non-brokered private placement offerings, raising gross proceeds
from both financings of CA$10 million and grants options.
CLOSES PRIVATE PLACEMENTS
The Company has completed the two private placements previously announced on January 20, 2021 for
CA$8 million and February 4, 2021 for CA$2 million (the “Offerings”), raising aggregate gross proceeds
from both Offerings of CA$10 million. The net proceeds of the Offering will be used for the continued
evaluation of the Company’s advanced graphite materials supply chain Project, completion of the Pre-
Feasibility Study planned for mid-year 2021 and for general working capital purposes.
The Company has issued 16 million Units (the “2021-1 Units”) related to the first Offering, at a price of
CA$0.50 per Unit for a total of CA$8 million. Each Unit consists of one common share (a “Common Share”)
and one transferable common share purchase warrant (a “2021-1 Warrant”). Each Warrant entitles the
holder to purchase one full Common Share at a purchase price of CA$0.61 per Common Share and will
expire two years from the date of issuance. The Warrants include an accelerated exercise clause whereby,
in the event the Common Shares trade at a volume of CA$0.90 or more on the TSXV or the Toronto Stock
Exchange (if so listed at such time) for 10 consecutive trading days, the Company may, at its option, issue
a press release and a notice to the Warrant holder for the expiry of the Warrants on the date that is 45
days from the press release and notice and the Warrant holder may exercise the Warrants during this 45
day period but no later than the expiry date. A total of 1,228,800 Broker warrants and $614,000 was paid
in finder’s fees relating to the first Offering.
The Company has also issued 2,564,104 Units (the “2021-2 Units”) related to the second Offering, at a
price of CA$0.78 per Unit for a total of CA$2 million. Each Unit consists of one common share (a “Common
Share”) and one transferable common share purchase warrant (a “2021-2 Warrant”). Each Warrant
entitles the holder to purchase one full Common Share at a purchase price of CA$0.98 per Common Share
and will expire two years from the date of issuance. The Warrants include an accelerated exercise clause
whereby, in the event the Common Shares trade at a volume of CA$1.45 or more on the TSXV or the
Toronto Stock Exchange (if so listed at such time) for 10 consecutive trading days, the Company may, at
its option, issue a press release and a notice to the Warrant holder for the expiry of the Warrants on the
date that is 45 days from the press release and notice and the Warrant holder may exercise the Warrants
during this 45 day period but no later than the expiry date. A total of 196,923 Broker warrants and
$153,600 was paid in finder’s fees relating to the second Offering.
Both Offerings are subject to receipt of final applicable regulatory approvals including approval of the TSX
Venture Exchange. All securities issued in connection with the Offering will be subject to a restricted
period that expires four months and a day following the date of issuance.
This media release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the United
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States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may
not be offered or sold within the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such registration is available.
GRANT OF OPTIONS
The Company announces that the board of directors of the Company has approved an incentive stock
option grant to directors, officers and consultants of the Company of an aggregate of 2,105,000 options
of Graphite One (“Options”) in accordance with the Company’s shareholder approved stock option plan.
Each Option is exercisable at a price of $1.02 per share, all vesting immediately and expiring on February
23, 2026. All Options are subject to a restricted period that expires four months and a day following the
date of issuance.
Upon the granting of the Options described above, Graphite One will have 6,165,000 Options outstanding,
which represents approximately 10% of the 61,673,246 common shares of the Company currently
outstanding. Graphite One’s stock option plan limits the issuance of Options to no more than 10% of the
outstanding common shares.
ABOUT GRAPHITE ONE
GRAPHITE ONE INC. continues to evaluate its advanced graphite materials supply chain project with the
objective of becoming an American producer of high grade Coated Spherical Graphite (“CSG”), and other
advanced graphite products, that is integrated with a domestic graphite resource (the “Graphite One
Project” or the “Project”). The Project is conceived as a vertically integrated enterprise to mine, process
and manufacture high grade CSG primarily for the lithium-ion electric vehicle battery market and energy
storage systems, with significant additional production for a range of advanced value -added graphite
applications. As set forth in the Company’s Preliminary Economic Assessment, graphite mineralization to
be mined from the Company’s Graphite Creek Property would be processed into concentrate at a graphite
processing plant to be located on the Graphite Creek Property situated on the Seward Peninsula about 60
kilometers north of Nome, Alaska. CSG and other value-added graphite products would be manufactured
from the concentrate at the Company’s proposed graphite product manufacturing facility, the location of
which is the subject of further study and analysis. A production decision on the Project would be made
once a positive feasibility study is completed.
ON BEHALF OF THE BOARD OF DIRECTORS
"Anthony Huston” (signed)
For more information on Graphite One Inc., please visit the Company’s website,
www.GraphiteOneInc.com or contact:
Anthony Huston
CEO, President & Director
Tel: (604) 889-4251
Email: [email protected]
Investor Relations Contact
1-604-684-6730
WWW.GRAPHITEONEINC.COM GPH: TSX-V GPHOF: OTCQB
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be forward -looking statements. All
statements in this release, other than statements of historical facts that address actual use of proceeds
including the timing and completion of the anticipated Pre -Feasibility Study , receipt of regulatory
approvals, implementation of a more established shipment program, exploration drilling, exploitation
activities, future production, establishment of a processing plant, and events or developments that the
Company expects, are forward- looking statements. Although the Company beli eves the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or developments may differ materially from those
in the forward-looking statements. Factors that could cause actual results to differ materially from those
in forward-looking statements include market prices, exploitation and exploration successes, continuity of
mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays
due to third party opposition, changes in government policies regarding mining and natural resource
exploration and exploitation, and continued availability of capital and financing, and general economic,
market or business conditions. Readers are cautioned not to place undue reliance on this forward-looking
information, which is given as of the date it is expressed in this press release, and the Company undertakes
no obligation to update publicly or revise any for ward-looking information, except as required by
applicable securities laws. For more information on the Company, investors should review the Company's
continuous disclosure filings that are available at www.sedar.com.