March 15, 2021
March 15, 2021 – Vancouver, British Columbia – Graphite One Inc. (GPH: TSX-V; GPHOF: OTCQB) (“Graphite One” or the “Company”) announces that it has elected to exercise its rights under the terms and conditions of the 2,500,000 common share purchase warrants (“Warrants”) that were issued in connection with the purchase of a net smelter royalty (“NSR”) in October 2020 to accelerate the expiry date of the Warrants. The original expiry date of the Warrants is October 8, 2025 and the Warrants are exercisable at $0.61. See the Company’s October 15, 2020 press release for the NSR purchase.
The common shares of the Company closed at prices above $0.61 during the 10 consecutive trading days ended March 12, 2021. In connection with the increased share price, the Company is providing the Warrantholder with notice that it is accelerating the expiry time of the Warrants in accordance with the terms of the Warrants. Unless duly exercised, the Warrants will expire at 5:00 pm (Pacific Time) on April 29, 2021.
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
GRAPHITE ONE INC. continues to evaluate its advanced graphite materials supply chain project with the objective of becoming an American producer of high grade Coated Spherical Graphite (“CSG”), and other advanced graphite products, that is integrated with a domestic graphite resource (the “Graphite One Project” or the “Project”). The Project is conceived as a vertically integrated enterprise to mine, process and manufacture high grade CSG primarily for the lithium-ion electric vehicle battery market and energy storage systems, with significant additional production for a range of advanced value-added graphite applications. As set forth in the Company’s Preliminary Economic Assessment, graphite mineralization to be mined from the Company’s Graphite Creek Property would be processed into concentrate at a graphite processing plant to be located on the Graphite Creek Property situated on the Seward Peninsula about 60 kilometers north of Nome, Alaska. CSG and other value-added graphite products would be manufactured from the concentrate at the Company’s proposed graphite product manufacturing facility, the location of which is the subject of further study and analysis. A production decision on the Project would be made once a positive feasibility study is completed.