Graphite One Warrant Amendment
Graphite One Warrant Amendment
VANCOUVER, BC
,
Aug. 2, 2022
/CNW/ -
Graphite One Inc.
(TSXV: GPH) (OTCQX:
GPHOF) (the "Company") is pleased to announce that the Company intends to amend the term of
10,429,981 warrants that were issued on
August 12, 2021
and
September 24
, 2021. Such
amendment is subject to Exchange acceptance. The amendment includes extending the expiry date
of the warrants from
August 12, 2022
to
May 12, 2023
and adds a new acceleration provision
whereby if the Company's share price closes above
$1.75
for 20 consecutive trading days, the
Company can elect to accelerate the expiry date of the warrant by issuing a press release to notify
the warrantholders the warrants will expire 45 days from the press release date. The original
exercise price of
$1.50
per warrant and all other terms of the warrants will remain unchanged for the
extended exercise period.
The warrants were issued as part of the
June 30, 2021
announcement of a brokered private
placement of up to 12 million units at
$1.00
per unit. Each unit consisted of one common share and
one share-purchase warrant exercisable at
$1.50
per warrant and expires 12 months from the date
of closing.
No action is required by the warrant holders as a result of the extension of the warrant expiry date.
A warrant holder who wishes to exercise the warrants will be required to submit a warrant exercise
form to Computershare, the Company's agent for processing the warrant exercises.
About Graphite One Inc.
GRAPHITE ONE INC. (TSXV: GPH) (OTCQX: GPHOF) continues to develop its Graphite One
Project (the "Project"), whereby the Company could potentially 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 high grade anode
materials primarily for the lithium–ion electric vehicle battery market. As set forth in the Company's
Preliminary Economic Assessment, 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 anodes 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, the location of which is
the subject of further study and analysis. The Company intends to make a production decision on
the Project once a feasibility study is completed.
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 future production,
establishment of a processing plant, and events or developments that the Company expects, 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
.
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https://www.prnewswire.com/news-releases/graphite-one-warrant-amendment-301597757.html
SOURCE
Graphite One Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/August2022/02/c1125.html
%SEDAR: 00025247E
For further information:
on Graphite One Inc., please visit the Company's website,
www.GraphiteOneInc.com or contact: 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 02-AUG-22