Graphite One Announces Closing of $10.08 Million in Private Placement Offering
Graphite One Announces Closing of $10.08
Million in Private Placement Offering
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
Aug. 30, 2022
/CNW/ -
Graphite One Inc.
(TSXV: GPH) (OTCQX: GPHOF)
("Graphite One" or the "Company")
is pleased to announce that it has closed the first tranche of
the previously announced non-brokered private placement dated
August 8, 2022
raising gross
proceeds of
$10,076,382
through the issuance of 8,762,071 units at a price of
$1.15
per unit
("Tranche One Financing"). Each unit consists of one common share and one common share
purchase warrant (a "Warrant"), with each Warrant entitling the holder to acquire, on payment of
$1.50
to the Company, one common share of the Company for a period of 24 months from the
closing date of the Tranche One Financing, which is subject to an acceleration provision.
The Company paid cash finders' fees of
$316,758
and issued 316,758 compensation warrants
("Compensation Warrant") on the Tranche One Financing. Each Compensation Warrant entitles the
holder to purchase one common share of the Company for a period of 24 months from the closing
date of the Tranche One Financing at an exercise price of
C$1.50
.
The Company intends to use the net proceeds from the Tranche One Financing to support the
upcoming feasibility study, including the completion of the summer drilling program, for business
development activities and general working capital. Completion of the Tranche One Financing is
subject to receipt of final applicable regulatory approvals including final approval of the TSX Venture
Exchange. All securities issued in connection with the Tranche One Financing will be subject to a four
month hold period ending
December 30, 2022
.
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 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.
About Graphite One Inc.
GRAPHITE ONE INC. (GPH: TSX–V; GPHOF: OTCQB) continues to develop its Graphite One
Project (the "Project"), with the goal of becoming an American producer of high grade anode
materials that is integrated with a domestic graphite resource. The Project is proposed as a
vertically integrated enterprise to mine, process and manufacture high grade anode materials
primarily for the lithium–ion electric vehicle battery market. As set forth in the Company's 2022 Pre-
Feasibility Study, potential graphite mineralization mined from the Company's Graphite Creek
Property is expected to be processed into concentrate at a graphite processing plant. The proposed
processing plant would be located on the Graphite Creek Property situated on the Seward Peninsula
about 60 kilometers north of Nome, Alaska. Graphite anode materials and other value–added
graphite products would be manufactured from the concentrate and other materials at the
Company's proposed advanced graphite materials manufacturing facility expected to be located in
Washington. The Company intends to make a production decision on the Project upon the
completion of a Feasibility Study.
On Behalf of the Board of Directors
"Anthony Huston" (signed)
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 the use of
proceeds from the Offering, receipt of regulatory approvals, exploration drilling, exploitation
activities and events or developments that the Company expects, are forward-looking statements.
Although the Company believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are no 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 the receipt of all necessary regulatory approvals, 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 forward-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
.
SOURCE
Graphite One Inc.
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For further 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, Tel: (604) 684-6730,
CO: Graphite One Inc.
CNW 07:00e 30-AUG-22