Graphite One Announces Extension of Financing /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO
Graphite One Announces Extension of
Financing
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
CANADA
ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
./
VANCOUVER, BC
,
Oct. 19, 2022
/CNW/ -
Graphite One Inc.
(TSXV: GPH) (OTCQX:
GPHOF) ("
Graphite One
" or the "
Company
") announces that further to the news release
disseminated on
September 20, 2022
, the Company has received an extension from the TSX
Venture Exchange (the "
TSXV
") with respect to the duration of its previously announced non-
brokered private placement. The outside date upon which final acceptance of the non-brokered
private placement will be granted by the TSXV has been extended until
November 21, 2022
.
On
August 8, 2022
, the Company announced a non-brokered private placement of up to 13,500,000
units at a price of
$1.15
per unit (the "
Offering
") for gross proceeds of up to
$15,525,000
. Each
unit will consist of one common share and one transferable common share purchase warrant entitling
the holder to purchase one common share of the Company at a price of
$1.50
per common share
for a period of 24 months from the first date of closing of the Offering, subject to early acceleration
of expiry date under certain conditions.
On
August 29, 2022
, the Company announced an increase in the size of the Offering of up to
18,500,000 units at a price of
$1.15
per unit for gross proceeds to the Company of up to
$21,275,000
.
On
August 30, 2022
, the Company announced the closing of the first tranche of the Offering of
8,762,701 units for gross proceeds of
$10,076,382
.
In all other respects, the terms of the Offering and the use of proceeds remain unchanged as
previously disclosed in the Company's
August 8, 2022
news release. The Offering will be subject to
receipt of final applicable regulatory approvals including final approval by the TSXV.
The securities being offered under the Offering will be issued pursuant to applicable exemptions
from the prospectus requirements under applicable securities laws and will be subject to a hold
period that will expire four months and one day from the date of issue.
The securities described herein 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
accordingly may not be offered or sold within
the United States
or to "U.S. persons", as such term is
defined in Regulation S promulgated under the U.S. Securities Act ("
U.S. Persons
"), except in
compliance with the registration requirements of the U.S. Securities Act and applicable state
securities requirements or pursuant to exemptions therefrom. This news release does not constitute
an offer to sell or a solicitation of an offer to buy any of the Company's securities to, or for the
account of benefit of, persons in
the United States
or U.S. Persons.
About Graphite One Inc.
GRAPHITE ONE INC. (GPH: TSX
V; GPHOF: OTCQX) 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 is expected to be located in
Washington State. The Company intends to make a production decision on the Project upon
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 events or
developments that the Company expects, including but not limited to delays or uncertainties with
regulatory approvals, including that of the TSX Venture Exchange, 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
.
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 04:17e 19-OCT-22