/NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Aug. 8, 2022
/CNW/ - Graphite One Inc. (TSXV: GPH) (OTCQX:
GPHOF) ("Graphite One" or the "Company") is pleased to
announce a non-brokered private placement of up to 13.5 million
units (the "Units") of the Company at a price of CA$1.15 per Unit
for aggregate gross proceeds of up to CA$15,525,000 (the
"Offering").
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Each Unit will consist of one common share of the Company and
one transferable common share purchase warrant (the "Warrant")
entitling the holder to acquire, on payment of CA$1.50 per Warrant
to the Company, one common share for a period of 24 months from the
first date of closing of the Offering. The Warrants include
an acceleration provision whereby if the Company's share price
closes above CA$2.00 for 10 consecutive trading days, the Company
may elect to accelerate the expiry date of the Warrants by issuing
a press release and notice to the Warrant holders for the expiry of
the Warrants that is 45 days from the press release date. The
Warrant holders may exercise the Warrants during this 45-day period
but no later than the expiry date.
The Company may pay a finders' fee to arm's length parties in
connection with the Offering.
The Offering will be subject to receipt of final applicable
regulatory approvals including approval by the TSX Venture
Exchange. All securities issued in connection with this
Offering will have a restricted period that expires four months and
a day following the date of issuance.
The net proceeds from the Offering will be used to support the
upcoming feasibility study, including the summer drilling programs,
for business development activities and for general working
capital.
Pre-Feasibility Study Update
The pre-feasibility study on the Graphite One Project is in the
final stages of completion. Results are expected to be
released by August 31, 2022.
This media release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
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, 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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SOURCE Graphite One Inc.