Graphite One Announces Repricing of Stock Options
Graphite One Announces Repricing of Stock
Options
VANCOUVER, BC
,
June 3, 2024
/CNW/ -
Graphite One Inc.
(TSX-V: GPH) (OTCQX: GPHOF)
(the
"Company")
announces that the Company's board of directors has approved the repricing (the "
Repricing
") of
an aggregate of 1,269,379 outstanding stock options (the "
Options
") issued to certain officers of the Company
pursuant to the Company's stock option plan. The Repricing is subject to the approval of the TSX Venture
Exchange ("
TSXV
").
The exercise price on these Options is repriced from
$1.00
to
$1.08
per common share to reflect the market
price on the date of grant and to qualify for a deduction under paragraph 110(1)(d) of the Income Tax Act
(
Canada
). There were no amendments to the other terms of the 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)
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" and
includes, but not limited to, the Company's ability to obtain TSXV approval of the Repricing. 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 03-JUN-24