Graphite One Announces Warrant Extension
Graphite One Announces Warrant Extension
VANCOUVER, BC
,
Sept. 16, 2024
/CNW/ -
Graphite One Inc.
(TSXV: GPH) (OTCQX: GPHOF)
("Graphite One" or the "Company")
announces today that it is intending to extend the expiry date of
an aggregate 2,802,690 outstanding common share purchase warrants (the "
Warrants
") due to expire
on
September 17, 2024
, all of which are held by Bering Straits Native Corporation ("
BSNC
"). BSNC is a
strategic partner at the Company's Graphite Creek Project.
The Warrants were issued in connection with a private placement transaction that closed on
September
17, 2023
and are currently exercisable at
Cdn$1.21
per common share.
Under the proposed amendment to the Warrants (the "
Proposed Amendment
"), the Company
proposes to extend the expiry date for a further one year to
September 17, 2025
(the "
Warrant
Extension
"), with all other terms of the Warrants remaining the same. The Proposed Amendment is
subject to approval by the TSX Venture Exchange.
Formed in 1972, BSNC is the regional Alaska Native Corporation for the Bering Strait region, which
includes the
Seward Peninsula
in
Western Alaska
and the coastal lands surrounding Norton Sound. The
Graphite Creek Project is located on State and private land in the BSNC region.
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 to be located in the contiguous United States. 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)
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. Other
than statements of historical facts, all statements in this release that address the implementation of the
Proposed Amendment, including the anticipated timing thereof and the TSXV's acceptance of the
Proposed Amendment 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, 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.ca
.
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SOURCE
Graphite One Inc.
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http://www.newswire.ca/en/releases/archive/September2024/16/c5599.html
%SEDAR: 00025247E
For further information:
For more information on Graphite One Inc., please visit the Company's
website, www.GraphiteOneInc.com or contact: Anthony Huston, President, CEO & Director, Tel: (604)
889-4251, Email: [email protected]; Investor Relations Contact, Tel: (604) 684-6730,
CO: Graphite One Inc.
CNW 16:30e 16-SEP-24