VANCOUVER, BC, Feb. 23,
2023 /CNW/ - Graphite One Inc. (TSXV: GPH) (OTCQX:
GPHOF) ("Graphite One", "G1" or the "Company") today announces that
it has received total proceeds of $7,563,482 from the exercise of 11,354,766
warrants between January 1, 2023 and
February 22, 2023. The warrants were
issued pursuant to two private placements that closed on
February 23, 2021. The proceeds from
the exercise of the warrants will be used for the feasibility study
on the Graphite One Project and for general working capital
purposes.
"I want to thank our shareholders for such a strong vote of
confidence for G1", said Anthony
Huston, founder and CEO of Graphite One. "The results from
the warrant exercises are a strong sign of support for G1's
strategy to bring a 100% domestic advanced graphite supply chain to
the United States".
USGS Recognizes Graphite Creek as
U.S.'s Largest Known Graphite Deposit
In March 2022, G1's Graphite Creek
resource was cited as the largest known graphite deposit in
the United States by the U.S.
Geological Survey in its updated U.S. Mineral Deposit
Database1.
_______________________________
|
1
https://www.usgs.gov/news/technical-announcement/usgs-updates-mineral-database-graphite-deposits-united-states
|
Graphite One's 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. The Graphite One Project plan includes an advanced
graphite material and battery anode manufacturing plant expected to
be sited in Washington State
integrated with the development of the Graphite Creek resource. The
plan also includes a recycling facility to reclaim graphite and the
other battery materials, to be co-located at the Washington State site, the third link in
Graphite One's circular economy strategy.
About Graphite One Inc.
GRAPHITE ONE INC. is developing its Graphite One Project (the
"Project") to become an American producer of high-grade anode
materials on a commercial scale integrated with a U.S. domestic
graphite resource. The Project is proposed as a vertically
integrated enterprise to mine, process and manufacture anode
materials primarily for the lithium–ion electric vehicle battery
market. As set forth in the Company's 2022 Pre-Feasibility Study,
graphite mineralization mined from the Company's Graphite Creek
Property, situated on the Seward
Peninsula about 60 kilometers north of Nome, Alaska, would be processed into
concentrate at an adjacent processing plant. Natural and artificial
graphite anode materials and other value–added graphite products
would be manufactured on a commercial scale 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
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.
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
future production and establishment of graphite processing plants,
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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/graphite-one-announces-exercise-of-warrants-301754202.html
SOURCE Graphite One Inc.