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Graphite One Announces Warrant Extension

16.09.2024 | 22:30 Uhr | CNW

VANCOUVER, Sept. 16, 2024 - Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) ("Graphite One" or the "Company") announces today that it is intending to extend the expiry date of an aggregate 2,802,690 outstanding common share purchase warrants (the "Warrants") due to expire on September 17, 2024, all of which are held by Bering Straits Native Corporation ("BSNC"). BSNC is a strategic partner at the Company's Graphite Creek Project.

The Warrants were issued in connection with a private placement transaction that closed on September 17, 2023 and are currently exercisable at Cdn$1.21 per common share.

Under the proposed amendment to the Warrants (the "Proposed Amendment"), the Company proposes to extend the expiry date for a further one year to September 17, 2025 (the "Warrant Extension"), with all other terms of the Warrants remaining the same. The Proposed Amendment is subject to approval by the TSX Venture Exchange.

Formed in 1972, BSNC is the regional Alaska Native Corporation for the Bering Strait region, which includes the Seward Peninsula in Western Alaska and the coastal lands surrounding Norton Sound. The Graphite Creek Project is located on State and private land in the BSNC region.

About Graphite One Inc.

GRAPHITE ONE INC. (TSX‐V: GPH) (OTCQX: GPHOF) continues to develop its Graphite One Project (the "Project") to 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 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 sixty (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 from the concentrate and other materials at the Company's proposed advanced graphite materials manufacturing facility to be located in the contiguous United States. 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)

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. Other than statements of historical facts, all statements in this release that address the implementation of the Proposed Amendment, including the anticipated timing thereof and the TSXV's acceptance of the Proposed Amendment are forward-looking statements. 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, 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.sedarplus.ca.

View original content to download multimedia:https://www.prnewswire.com/news-releases/graphite-one-announces-warrant-extension-302249424.html

SOURCE Graphite One Inc.



Contact
For more information on Graphite One Inc., please visit the Company's website, www.GraphiteOneInc.com or contact: Anthony Huston, President, CEO & Director, Tel: (604) 889-4251, Email: AHuston@GraphiteOneInc.com; Investor Relations Contact, Tel: (604) 684-6730, GPH@kincommunications.com
 
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