VANCOUVER, BC, Jan. 20,
2023 /CNW/ - Graphite One Inc. (TSXV: GPH)
(OTCQX: GPHOF) ("Graphite One" or the "Company") is
pleased to announce its wholly owned subsidiary, Graphite One
(Alaska) Inc., has entered into a
Material Transfer Agreement ("MTA") with Pacific Northwest National
Laboratory ("PNNL"), managed and operated in Richland, Washington by Battelle for the U.S.
Department of Energy. Under the MTA, PNNL will test anode active
and other materials to verify conformity to electric vehicle
battery specifications. The first materials to be tested will be
the anode active materials now being produced as samples by Sunrise
New Energy Material Co. Ltd ("Sunrise") using graphite from the
Company's Graphite Creek Property in Alaska. These samples will be sent to
the American electric vehicle manufacturers for evaluation as a
possible source of battery materials. Graphite One and
Sunrise previously announced their intention to enter into a
technology licensing agreement to share expertise and technology
for the design, construction, and operation of the Company's
planned advanced graphite materials manufacturing facility in
Washington State.1
![Graphite One Inc. Logo (CNW Group/Graphite One Inc.) Graphite One Inc. Logo (CNW Group/Graphite One Inc.)](https://mma.prnewswire.com/media/1987180/Graphite_One_Inc__Graphite_One_Announces_Testing_Agreement_with.jpg)
"We are delighted to work with one of the U.S. Government's
premier National Labs," said Anthony
Huston, President and CEO of Graphite One. "Given PNNL's
experience in developing renewable energy solutions, and the
importance of graphite to the major renewable energy applications
as well as the energy storage systems required for the national
grid, Graphite One sees this as a major step in our supply chain
strategy."
1
https://www.graphiteoneinc.com/graphite-one-signs-mou-with-experienced-lithium-ion-battery-anode-producer-for-design-construction-and-operation-of-u-s-based-anode-facility/
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Graphite One's Domestic Supply
Chain Strategy
With the United States
currently 100 per cent import dependent for natural graphite,
Graphite One is planning to develop a complete U.S.-based, advanced
graphite supply chain solution anchored by the Graphite Creek
resource near Nome, Alaska. The
Graphite One project plan is anticipated to include an advanced
graphite material and battery anode manufacturing plant expected to
be sited in Washington State. The
plan also includes a recycling facility to reclaim graphite and
other battery materials, to be co-located at the Washington State site, the third link in
Graphite One's circular economy strategy.
As announced on March 7,
20222, Graphite One'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 in its updated
U.S. Mineral Deposit Database.
The USGS report confirms Alaska
Governor Mike Dunleavy's statement
of 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".
2
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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Grant of Long-Term Incentive
Awards
The Company announces that the board of directors has approved a
grant of stock options and restricted share units ("RSUs") to its
employees, officers, and directors in an aggregate of 1,517,743
stock options exercisable at $1.00
per option and 2,719,101 RSUs at a deemed price of $1.00 per RSU pursuant to the Company's Omnibus
Plan. The stock options vest one-third (1/3) on each
anniversary date over three (3) years and expire 5 years from the
date of grant. The RSUs vest over three (3) years except for
certain RSUs which vest quarterly beginning on the first
anniversary date and over the following three quarters. On
vest date, each RSU entitles the holder to receive one common share
of the Company.
The stock option and RSU grants are subject to the terms of the
Omnibus Plan which was re-approved by the shareholders of the
Company at the annual meeting of shareholders held on June 29, 2022, the applicable agreements and the
requirements of the TSX Venture Exchange ("Exchange").
Following the grant, the Company had 109,828,079 common shares
issued and outstanding, 10,067,002 stock options issued and
6,488,367 RSUs issued.
Mr. Huston commented "As previously announced on December 29, 20223, these options and
RSUs are the first grant under a recently adopted new compensation
program. We expect the balance of the grant, including RSUs and
Performance Share Units to be issued in the second half of 2023
subject to Exchange and shareholders' approval".
3
https://www.graphiteoneinc.com/graphite-one-year-in-review/
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About Pacific Northwest National
Laboratory
Pacific Northwest National Laboratory is a leading center for
scientific discovery in chemistry, data analytics, and Earth
science, and for technological innovation in sustainable energy and
national security. Founded in 1965, PNNL is operated by Battelle
for the U.S. Department of Energy's Office of Science, which is the
single largest supporter of basic research in the physical sciences
in the United States.
About Graphite One Inc.
GRAPHITE ONE INC. (TSXV: GPH) (OTCQX: GPHOF) 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 expected to be located in Washington State. The
Company intends to make a production decision on the Project upon
the completion of a Feasibility Study.
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.
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, are forward looking
statements including statements relating to the timing, scope and
completion of the anticipated Feasibility Study, receipt of
regulatory approvals, results of anode material testing, possible
success and acceptance of advanced graphite material development
and testing, exploration drilling, exploitation activities, future
production, establishment of a processing plant and graphite
manufacturing facility, conversion of MOUs into completed
agreements, and events or developments that the Company expects.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are no 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 the receipt of all necessary regulatory approvals, 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.