Graphite One Announces Exercise of Warrants
Graphite One Announces Exercise of Warrants
VANCOUVER, BC
,
Feb. 23, 2023
/CNW/ - Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) ("Graphite
One", "G1" or the "Company") today announces that it has received total proceeds of
$7,563,482
from the
exercise of 11,354,766 warrants between
January 1, 2023
and
February 22, 2023
. The warrants were
issued pursuant to two private placements that closed on
February 23, 2021
. The proceeds from the
exercise of the warrants will be used for the feasibility study on the Graphite One Project and for general
working capital purposes.
"I want to thank our shareholders for such a strong vote of confidence for G1", said
Anthony Huston
,
founder and CEO of Graphite One. "The results from the warrant exercises are a strong sign of support
for G1's strategy to bring a 100% domestic advanced graphite supply chain to
the United States
".
USGS Recognizes Graphite Creek as U.S.'s Largest Known Graphite Deposit
In
March 2022
, G1's Graphite Creek resource was cited as the largest known graphite deposit in
the
United States
by the U.S. Geological Survey in its updated U.S. Mineral Deposit Database
1
.
_______________________________
1
https://www.usgs.gov/news/technical-announcement/usgs-updates-mineral-database-graphite-deposits-united-states
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 resource. The plan also 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. is developing its Graphite One Project (the "Project") to become an American
producer of high-grade anode materials on a commercial scale integrated with a U.S. 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 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 on a commercial scale 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
On Twitter @GraphiteOne
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 events or developments
that the Company expects, including but not limited to future production and establishment of graphite
processing plants, are forward-looking statements. Although the Company believes 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 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
.
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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 07:00e 23-FEB-23