Graphite One Closes the Buyback of Net Smelter Production Royalty
Graphite One Closes the Buyback of Net Smelter
Production Royalty
VANCOUVER, BC
,
June 21, 2023
/CNW/ -
Graphite One Inc.
(TSXV: GPH) (OTCQX: GPHOF)
("Graphite One" or the
"Company")
,
planning a complete domestic U.S. supply chain for advanced graphite materials, announces the Company has
reached a definitive agreement to buy back the 1% Net Smelter Production Royalty ("
NSR
") from
Ronald C. Sheardown
("
Sheardown
"), which was retained by Sheardown following the
June 11, 2015
sale of mining claims to the Company. The
buyback cancels the Sheardown NSR which was attached to 133 Alaska state claims owned or leased by Graphite One.
In consideration for the repurchase and cancellation of the Sheardown NSR, the Company will issue to Sheardown 456,500
common shares of the Company at a price of CA$1.48 per share. The common shares issued will be subject to resale
restrictions.
Two NSRs on the Graphite Creek Property remain outstanding: a 5.0% and a 2.5% NSR applicable to certain
Alaska
state
claims, of which 2% of each NSR can be purchased for a total of
US$4 million
, leaving a 3.0% and 0.5% NSR on their
respective claims.
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 Property. The plan 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 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
approximately 35 miles 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 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 press release contains forward-looking statements and forward-looking information within the meaning of applicable
securities laws. Any statements that are contained in this press release that are not statements of historical fact may be
deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should",
"anticipate", "will", "intends", "expects", "exceeds" and similar expressions which are intended to identify forward-looking
information or statements. The Company cautions that all forward-looking statements are inherently uncertain, and that actual
performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the
control of the Company. The reader is cautioned that assumptions used in the preparation of any forward-looking information
may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a
result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the
Company. 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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%SEDAR: 00025247E
For further information:
Anthony Huston, CEO, President & Director, Tel: (604) 889-4251, Email:
[email protected]; Investor Relations Contact: Tel: (604) 684-6730, [email protected]
CO: Graphite One Inc.
CNW 07:00e 21-JUN-23