Agreement Positions Graphite One to Become America's First
Fully Integrated Domestic Supply Chain for Graphite Production,
Closing the Loop on a "Full Circular Economy"
VANCOUVER, BC, April 4,
2022 /CNW/ - Graphite One Inc. (TSXV: GPH)
(OTCQX: GPHOF) ("Graphite One" or the "Company") is
pleased to announce it has entered into a non-binding initial
Memorandum of Understanding ("MOU") with battery materials
recycler Lab 4 Inc. of Nova Scotia,
Canada ("Lab 4"), whereby Graphite One and Lab 4
propose to collaboratively work together to design, develop and
build a recycling facility for end-of-life EV and lithium ion
batteries.
Lab 4 Inc. provides laboratory and engineering support to mining
companies with a focus to recycle graphite, manganese and other
minerals.
The recycling facility would be located adjacent to Graphite
One's planned advanced materials manufacturing plant in
Washington
State1.
"With this new proposed recycling division joining our Graphite
Creek mine and Advanced Graphite Materials Manufacturing Plant as
the third link, Graphite One plans to bring the full circular
economy to the U.S. graphite supply chain," said Anthony Huston, President and CEO of Graphite
One. "When you're in the renewable energy space, you've got
to think through the whole lifecycle – where will EV and
lithium-ion batteries go when they are no longer useful? It
can't be to the landfill. That's not responsible. Battery
materials are simply too critical and too scarce to let them go to
waste. That all points to recycling battery materials – and
for Graphite One, this pointed us to Lab 4 and their
ground-breaking work to recycle these materials right back into our
planned manufacturing plant. With this new partnership,
Graphite One would be the only fully integrated domestic supply
chain for graphite to accommodate the different requirements of
battery companies."
"Lab 4 Inc. is excited to have this opportunity to work with
Graphite One to develop state-of-the-art battery recycling
capability. The return of battery materials within the
industry, or to new uses and applications, is critical to the
materials supply chain as the electrification of everything
accelerates," said Dr. Ian Flint,
CEO of Lab 4 Inc. "Adding recycling to renewable materials
development is the missing piece in a true circular economy.
We look forward to a partnership that sets a new standard for the
renewable energy sector."
As announced on March
7th2, Graphite One Inc.'s Graphite Creek resource
in Alaska has been cited as the
largest known graphite deposit in the
United States by the U.S. Geological Survey (USGS) in its
updated U.S. Mineral Deposit Database (USMIN).
The USGS report confirms Alaska
Governor Mike Dunleavy's statement
in support of Graphite One's designation as a U.S. government
high-priority infrastructure project, stating, "Graphite Creek is
the largest deposit of graphite in the nation and would be a
superior domestic supply of this critical mineral."
With the United States
currently 100 per cent import dependent for natural graphite,
Graphite One is developing a complete U.S.-based, advanced graphite
supply chain solution anchored by the Graphite Creek resource near
Nome, Alaska. The Graphite One
Project plan includes an advanced graphite material and battery
anode manufacturing plant expected to be located in Washington State along with the development of
the Graphite Creek resource.
Appointment of Chief Financial Officer and Corporate
Secretary
The Company is also pleased to announce that Gordon Jang, CPA, CMA, has been appointed as
Chief Financial Officer and Corporate Secretary, effective
immediately. Mr. Jang has over 25 years of experience in
senior management roles with mid-to-large mining companies
including Fortuna Silver Mines, Augusta Resources, Lundin Mining
and Pan American Silver. He brings a wealth of expertise in capital
markets, M&A, SOX compliance, external financial reporting,
corporate restructuring, cost analysis and process
improvements.
Further Disclosure on MOU
Graphite One and Lab 4 anticipate entering into a definitive
agreement and ancillary documents within 180 days from signing the
MOU to set out the proposed terms of the collaboration to design,
develop and build a recycling facility for end-of-life EV and
lithium ion batteries (the "Transaction").
The Transaction is subject to a number of conditions including,
but not limited to: (i) completion of due diligence by both
parties, (ii) the parties negotiating and executing a definitive
agreement on terms mutually agreed to by both parties, and (iii)
receipt of all regulatory approvals and third-party consents,
including the approval of the TSX Venture Exchange.
Graphite One cautions that there is no assurance that the MOU
will result in the completion of the Transaction, or, if the
Transaction is undertaken, as to its terms or timing.
About Graphite One Inc.
GRAPHITE ONE INC. (GPH: TSX‐V; GPHOF: OTCQB) 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 expected to be located in Washington State. 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)
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, including those related to the expectation that
the Company will enter into a definitive agreement in relation to
the Transaction, the terms of the Transaction, the timing and
ability of the Company to complete the Transaction, the timing and
ability of the Company to receive necessary regulatory approvals,
the timing and completion of the anticipated Preliminary
Feasibility Study, future production, establishment of a processing
plant and a graphite manufacturing plant, and events or
developments that the Company intends, expects, plans, or proposes
are forward-looking statements Generally,
forward‐looking information can be identified by the
use of forward‐looking terminology such as
"proposes", "expects", or "is expected", "scheduled", "estimates",
"projects", "intends", "assumes", "believes", "indicates" 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". The Company cautions
that there is no certainty that tests of the Company's material
will be successful or that such tests will result in the
development of successful products. 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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1
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https://www.graphiteoneinc.com/graphite-one-announces-location-of-its-advanced-graphite-anode-facility/
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2
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https://www.graphiteoneinc.com/u-s-government-cites-graphite-ones-graphite-creek-as-the-largest-graphite-deposit-in-the-united-states/
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SOURCE Graphite One Inc.