VANCOUVER,
BC, March 14, 2022 /CNW/ -
Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) ("Graphite
One" or the "Company") announced today that Washington State is the chosen location for
the Company's advanced materials processing plant, which will bring
battery anode production to the United States.
"This is a major step towards our 100% U.S.-based
advanced graphite supply chain," said Anthony Huston, President and CEO of Graphite
One. "Washington State offers the
opportunity for Graphite One to use a green energy source –
Washington state hydro – to
manufacture a green energy material. That's core to our commitment
at Graphite One to make our project a model of ESG in
action."
With energy being the largest single cost factor
in advanced graphite anode production, Washington State hydro power is expected to
provide Graphite One a significant advantage in keeping its
production costs as low as possible. Washington State's average 2021 electricity
price to all industrial customers was 5.81
cents per KWh, compared to the U.S national average of 7.26
per KWh1.
President Joe
Biden singled out graphite in his recent video conference on
supply chains:
"To follow through on my
commitment to say we were going to make it in America and build it
America… we needed a supply chain that was reliable…
including critical materials like lithium, graphite, and rare earth
materials, which are badly needed for so many American
products."2
Graphite One is in active and ongoing discussions
with Washington State public
authorities to determine where the facility will be located. The
facility is expected to support approximately 130 high-wage
jobs.
The advanced materials anode manufacturing
facility is the downstream link in Graphite One's 100% U.S.-based
advanced graphite supply chain. While the Washington State facility would be engineered
to accept multiple feedstocks required for anode production, the
anchor source for the facility would be the Company's resource near
Nome, Alaska, which hosts
North America's largest known
natural graphite deposit.
_________________________
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1 U.S. Energy Information
Administration; Electric Power Monthly with Data for December 2021;
Table 5.6.B. Average Price of Electricity to Ultimate Customers by
End-Use Sector, by State
|
2 https://www.whitehouse.gov/briefing-room/speeches-remarks/2022/02/22/remarks-by-president-biden-at-a-virtual-event-on-securing-critical-minerals-for-a-future-made-in-america/
|
Market Awareness Program
As part of Graphite One's ongoing strategy to
raise the profile of the Graphite One Project to investors, the
Company has entered into an agreement with TD Media LLC dba Life
Water Media LLC, of Houston, Texas
("TD Media") whereby TD Media will provide digital marketing
services including content creation, distribution, and market
awareness campaigns for a monthly fee of US$100,000 per month for a six (6) month
term. The contract can be terminated with 30 days' written
notice. Neither TD Media nor any of its principals currently own
any common shares, directly or indirectly, in the Company.
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
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.
FORWARD LOOKING STATEMENTS
All statements in this release, other than
statements of historical facts, including those related to the
timing and completion of the anticipated Pre-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 the material
processing plant will actually be built, that Washington State public authorities will be
supportive of the facility, that the facility will create the
anticipated jobs, and 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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SOURCE Graphite One Inc.