Graphite One Announces Grant of Stock Options
Graphite One Announces Grant of Stock Options
VANCOUVER, BC
,
May 17, 2024
/CNW/ - (TSX-V: GPH) (OTCQX: GPHOF)
(the "Company"),
announces
that it has granted an aggregate of 900,000 incentive stock options (the "
Options
") to two individuals, who
are both directors and officers of the Company (the "
Optionees
"). Each Option is exercisable into one
common share in the capital of the Company (a "
Common Share
") at an exercise price of
$0.85
per
Common Share and which expire five years following the date of grant. The Options are subject to a three-
year vesting period with 300,000 options vesting on the first, second and third anniversary from the grant
date.
These Options were issued to replace 900,000 incentive stock options, exercisable at
$0.30
per Common
Share which expired on
May 16, 2024
(the "
Expired Options
").
The Optionees agreed to forego the
exercise of the Expired Options due to the cash impact to both the Optionees and the Company of a
cashless exercise of the Expired Options.
Graphite One's Supply Chain Strategy
With
the United States
currently 100 percent import dependent for natural and synthetic graphite, Graphite
One is developing a complete U.S.-based, advanced graphite supply chain solution anchored by the
Graphite Creek deposit, recognized by the US Geological Survey as the largest graphite deposit in the U.S.
"and among the largest in the world." The Graphite One Project plan includes an advanced synthetic
graphite material and battery anode material manufacturing plant located in
Warren, Ohio
. The plan also
includes a recycling facility to reclaim graphite and the other battery materials, to be co-located at the
Ohio
site, the third link in Graphite One's non-linear circular economy strategy.
About Graphite One Inc.
GRAPHITE ONE INC. 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 active 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 active 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 located in northeastern Ohio. 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.
All statements in this release, other than statements of historical facts, are forward-looking statements.
Generally, forward
–
looking information can be identified by the use of forward
–
looking terminology such
as "proposes", "expects", "is expected", "scheduled", "estimates", "projects", "plans", "is planning",
"intends", "assumes", "believes", "indicates", "to be" or variations of such words and phrases that state that
certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". 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.sedarplus.c
a
.
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SOURCE
Graphite One Inc.
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%SEDAR: 00025247E
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 17-MAY-24