August 2, 2022
August 2, 2022 – Vancouver, British Columbia –Graphite One Inc. (GPH: TSX‐V; GPHOF: OTCQX) (the“Company”)is pleased to announce that the Company intends to amend the term of 10,429,981 warrants that were issued on August 12, 2021 and September 24, 2021. Such amendment is subject to Exchange acceptance. The amendment includes extending the expiry date of the warrants from August 12, 2022 to May 12, 2023 and adds a new acceleration provision whereby if the Company’s share price closes above $1.75 for 20 consecutive trading days, the Company can elect to accelerate the expiry date of the warrant by issuing a press release to notify the warrantholders the warrants will expire 45 days from the press release date. The original exercise price of $1.50 per warrant and all other terms of the warrants will remain unchanged for the extended exercise period.
The warrants were issued as part of the June 30, 2021 announcement of a brokered private placement of up to 12 million units at $1.00 per unit. Each unit consisted of one common share and one share-purchase warrant exercisable at $1.50 per warrant and expires 12 months from the date of closing.