Graphite One Announces Closing of $2.7 Million Private Placement and to Present at the 2023 Kinvestor Virtual Conference
Graphite One Announces Closing of $2.7
Million Private Placement and to Present at the
2023 Kinvestor Virtual Conference
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN
THE UNITED
STATES
/
All amounts are in Canadian dollars unless otherwise indicated, except for shares
VANCOUVER, BC
,
Sept. 14, 2023
/CNW/ -
Graphite One Inc.
(TSXV: GPH); (OTCQX: GPHOF)
("Graphite One" or the "Company")
is pleased to announce that it has closed a non-brokered
private placement with Bering Straits Native Corporation ("Bering Straits") for gross proceeds of
$2,718,609
through the issuance of 2,802,690 units at a price of
$0.97
per unit ("Private
Placement"). 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
$1.21
to the Company,
one common share of the Company for a period of twelve (12) months from the closing date of the
Private Placement.
No finder's fee was paid on this Private Placement and all securities issued in connection with the
Private Placement will be subject to a four month + one (1) day hold period ending
January 14,
2024
.
The Company has also granted Bering Straits an option to invest a further
US$6.0 million
in common
shares of the Company at any time before
September 13, 2024
(the "Option"). If and when the
Option and the Warrants are exercised, Bering Straits would have invested a total of
US$10.4 million
in Graphite One, based on the current exchange rate.
The Company intends to use the net proceeds to support the feasibility study, community
investment, and general corporate purposes. Completion of the Private Placement financing is
subject to receipt of final applicable regulatory approvals including final approval of the TSX Venture
Exchange.
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.
Kinvestor Days Virtual Conference
Anthony Huston
, President and CEO of Graphite One is scheduled to present at the 2023 Kinvestor
Days Virtual Conference on
September 19, 2023
at
10:00 am PT
(
1:00 pm ET
). More details below.
This year's Kinvestor Days is a 2-day virtual conference featuring a stellar lineup of presenting
companies in the mining and technology industries. Hosted by Kin Communications president
Arlen
Hansen
, presenting companies will have the opportunity to share about latest developments and
answer thoughtful questions from attendees.
Register for free today and reserve your spot to hear from Mr. Huston and other key executives as
they discuss the latest in mining, battery metals, and technology.
Presentation Details:
Date:
September 19, 2023
Presentation Time:
10:00 am PT
/
1:00 pm ET
Presenter:
Anthony Huston, President and CEO
Register now at
https://us06web.zoom.us/webinar/register/1916911734480/WN_T-UkYKxYR66v8mUFoVsxGw
Graphite One's Supply Chain Strategy
With
the United States
currently 100 per cent import dependent for natural graphite, Graphite One is
planning to develop a complete U.S.-based, advanced graphite supply chain solution anchored by
the Graphite Creek resource. The Graphite One Project plan includes an advanced graphite material
and battery anode manufacturing plant expected to be sited in
Washington State
integrated with the
development of the Graphite Creek Property. The plan includes a recycling facility to reclaim
graphite and the other battery materials, to be co-located at the
Washington State
site, the third link
in Graphite One's circular economy strategy.
About Graphite One Inc.
GRAPHITE ONE INC. (TSX
V: GPH; OTCQX: GPHOF) continues to develop its Graphite One
Project (the "Project") to become 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 anode materials primarily for the lithium
ion electric
vehicle battery market. As set forth in the Company's 2022 Pre-Feasibility Study, graphite
mineralization mined from the Company's Graphite Creek Property, situated on the
Seward
Peninsula
about sixty (60) kilometers north of
Nome, Alaska
, would be processed into concentrate at
an adjacent processing plant. Natural and artificial 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 State. 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)
For more information on Graphite One Inc., please visit the Company's website,
www.GraphiteOneInc.com.
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:
Anthony Huston, CEO, President & Director, Tel: (604) 889-4251, Email:
[email protected]; Investor Relations Contact: Tel: (604) 684-6730,
CO: Graphite One Inc.
CNW 11:46e 14-SEP-23