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Following on the Receipt of a US$37.5 Million Department of Defense Grant, Graphite One Enters into Loan Agreement for up to US$5 Million
Following on the Receipt of a US$37.5 Million Department of Defense Grant, Graphite One Enters in...
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[{"type":"text","content":"\n \n \n \n Following on the Receipt of a US$37.5 Million Department of Defense Grant, Graphite One Enters into Loan Agreement for up to US$5 Million\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Proceeds of the loan will be used for infill drilling along trend to Hole 22GC079, drilled 2.1 km west of the current block model, which encountered 58 meters of 4.18% graphite\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n July 19, 2023\n \n \n /CNW/ -\n \n Graphite One Inc.\n \n (TSXV: GPH) (OTCQX: GPHOF)\n \n (\"Graphite One\" or the \"Company\")\n \n \n ,\n \n planning a complete domestic U.S. supply chain for advanced graphite materials, announces today that it and its wholly-owned subsidiary, Graphite One (\n \n Alaska\n \n ) Inc. (\"G1\n \n Alaska\n \n \"), have entered into an unsecured loan agreement for advances of up to\n \n US$5 million\n \n (the \"Loan\") with Taiga Mining Company, Inc. (\"Taiga\"), a controlling shareholder of the Company. The loan agreement follows the announcement of a\n \n US$37.5 million\n \n U.S. Department of Defense grant to accelerate completion of Graphite One's Feasibility Study\n \n 1\n \n .\n \n \n \n \n \n \n \n \n \n \"Graphite One thanks Taiga for its continued support, as the funding will allow the Company to continue with delinating the scope and size of our resource,\" said\n \n Anthony Huston\n \n , Founder and CEO of Graphite One. \"This funding, like the\n \n US$37.5 million\n \n DoD grant announced this week, is not dilutive to our shareholders\".\n \n \n In March, the U.S. Government's US Geological Survey reported that:\n \n \n \"The Graphite Creek graphite deposit, located in the Kigluaik Mountains 60 km north of\n \n N...