Business
Graphite One Announces Taiga's Purchase of NSR and Grants Long-Term Incentive Awards
Graphite One Announces Taiga's Purchase of NSR and Grants Long-Term Incentive Awards Ca...
About this update from Graphite One Inc.
[{"type":"text","content":"\n \n \n \n Graphite One Announces Taiga's Purchase of NSR and Grants Long-Term Incentive Awards\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n The sale of 1% Net Smelter Production Royalty leaves Graphite One debt-free heading into 2024\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Dec. 27, 2023\n \n \n /CNW/ -\n \n Graphite One Inc.\n \n (TSX-V: GPH) (OTCQX: GPHOF)\n \n (\"Graphite One\" or the \"Company\")\n \n announces that Taiga Mining Company, Inc. (\"Taiga\") has exercised its option to purchase a 1% Net Smelter Production Royalty (\"NSR\") from the Company. The NSR is attached to 133 Alaska state claims owned or leased by Graphite One which the Company purchased on\n \n June 21, 2023\n \n for approximately\n \n US$450,000\n \n by issuing to the vendor 456,500 common shares of the Company at a price of CA$1.48 per share. The consideration paid for the sale of the NSR is approximately\n \n US$5,220,000\n \n , which represents the outstanding Taiga loan balance and accrued interest.\n \n \n \n \n \n \n \n \n \n \"With the sale of the NSR to Taiga and their continued support, Graphite One is debt free heading into 2024\" said\n \n Anthony Huston\n \n , President and CEO of Graphite One.\n \n \n The NSR commences on the first day of the month in which the first concentrate is produced from certain of the mineral claims for a period of twenty (20) years.\n \n \n Two other NSRs on the Graphite Creek Property remain outstanding: a 5.0% and a 2.5% NSR applicable to certain\n \n Alaska\n \n state claims, of which 2% of each NSR can be purchased separately for\n \n US$2,000,000\n \n each, leaving a 3.0% and a 0.5% NSR on their respective claims.\n \n \n Grant of Long-Term Incentive Awards\n \n \n The Company also announces the grant of 906,639 restricted share units (\"RSUs\") and 768,880 performance share units (\"PSUs\") to its officers pursuant to the terms of the Company's Omnibus Plan. As previously announced on the\n \n January 20, 2023\n \n press release, these RSUs and PSUs were the balance of th...