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Graphite One Announces Closing of $2.7 Million Private Placement and to Present at the 2023 Kinvestor Virtual Conference
Graphite One Announces Closing of $2.7 Million Private Placement and to Present at the 2023 Kinve...
About this update from Graphite One Inc.
[{"type":"text","content":"\n \n \n \n Graphite One Announces Closing of $2.7 Million Private Placement and to Present at the 2023 Kinvestor Virtual Conference\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n All amounts are in Canadian dollars unless otherwise indicated, except for shares\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Sept. 14, 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 is pleased to announce that it has closed a non-brokered private placement with Bering Straits Native Corporation (\"Bering Straits\") for gross proceeds of\n \n $2,718,609\n \n through the issuance of 2,802,690 units at a price of\n \n $0.97\n \n per unit (\"Private Placement\").  Each unit consists of one common share and one common share purchase warrant (a \"Warrant\"), with each Warrant entitling the holder to acquire, on payment of\n \n $1.21\n \n to the Company, one common share of the Company for a period of twelve (12) months from the closing date of the Private Placement.\n \n \n \n \n \n \n \n \n \n No finder's fee was paid on this Private Placement and all securities issued in connection with the Private Placement will be subject to a four month + one (1) day hold period ending\n \n January 14, 2024\n \n .\n \n \n The Company has also granted Bering Straits an option to invest a further\n \n US$6.0 million\n \n in common shares of the Company at any time before\n \n September 13, 2024\n \n (the \"Option\").  If and when the Option and the Warrants are exercised, Bering Straits would have invested a total of\n \n US$10.4 million\n \n in Graphite One, based on the current exchange rate.\n \n \n The Company intends to use the net proceeds to support the feasibility study, community investment, and general corporate purposes.  Completion of the Private Placement financing is subject to receipt of final applicable regulatory approva...