December 27, 2024 – Vancouver, British Columbia – Graphite One Inc. (TSX-V: GPH; OTCQX: GPHOF) (“Graphite One” or the “Company”) is pleased to announce that further to its press release dated December 16, 2024, the Company has closed a total of 6,374,200 units (each, a “Unit”) of a non-brokered private placement financing at CDN$0.75 per unit for aggregate gross proceeds of CDN$4,780,650. A total of 4,118,200 units for gross proceeds of CDN$3,088,650 were to purchasers resident in Canada in accordance with Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI-45-106”) listed issuer financing exemption (the “LIFE Financing”) and a total of 2,256,000 units for gross proceeds of CDN$1,692,000 were to purchasers resident outside of Canada (the “Concurrent Private Placement” and together with the LIFE Financing, the “Offering”). The Company filed a Form 45-106F1 offering document (the “Offering Document”) which may be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at https://www.graphiteoneinc.com.