/THIS NEWS RELEASE IN INTENDED FOR
DISTRIBUTION IN CANADA ONLY AND IS
NOT AUTHORIZED FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES./
VANCOUVER, BC, Aug. 29,
2022 /CNW/ - Graphite One Inc. (TSXV:
GPH) (OTCQX: GPHOF) ("Graphite One" or
the "Company") announces an increase in the size
of its previously announced $15,525,000 non-brokered private placement (the
"Offering"). The Company Intends to issue up to
18,500,000 units of the Offering at a price of $1.15 per unit for gross proceeds to the Company
of up to $21,275,000.
In all other respects, the terms of the Offering and the use of
proceeds will remain the same as previously disclosed in the
Company's August 8, 2022 news
release. The Offering will be subject to receipt of final
applicable regulatory approvals including approval by the TSX
Venture Exchange.
The securities being offered under the Offering will be issued
pursuant to applicable exemptions from the prospectus requirements
under applicable securities laws and will be subject to a hold
period that will expire four months and one day from the date of
issue.
The securities described herein 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 accordingly may not be offered or sold within the United States or to "U.S. persons", as
such term is defined in Regulation S promulgated under the U.S.
Securities Act ("U.S. Persons"), except in compliance with
the registration requirements of the U.S. Securities Act and
applicable state securities requirements or pursuant to exemptions
therefrom. This news release does not constitute an offer to sell
or a solicitation of an offer to buy any of the Company's
securities to, or for the account of benefit of, persons in
the United States or U.S.
Persons.
About Graphite One Inc.
GRAPHITE ONE INC. (GPH: TSX–V; GPHOF: OTCQB) continues to
develop its Graphite One Project (the "Project"), with the goal of
becoming 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 2022 Pre-Feasibility Study, 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 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 is expected to
be located in Washington State. The Company intends to make a
production decision on the Project upon completion of a Feasibility
Study.
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 events or
developments that the Company expects, including but not limited to
delays or uncertainties with regulatory approvals, including that
of the TSX Venture Exchange, 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.
SOURCE Graphite One Inc.