Graphite One Announces Grant of Stock Options
On May 17, 2024, Graphite One announced the grant of 900,000 incentive stock options to two directors and officers. Each option allows for the purchase of one common share at $0.85, with a five-year expiration and a three-year vesting period. These options replace previously expired options with an exercise price of $0.30. The replacements aim to mitigate the financial impact of a cashless exercise on both the optionees and the company.
Graphite One is also focused on developing an advanced U.S.-based graphite supply chain, anchored by the Graphite Creek deposit, the largest in the U.S. The company plans to establish a synthetic graphite material and battery anode manufacturing plant in Ohio, along with a recycling facility to support a circular economy strategy.
- Grant of 900,000 new stock options at $0.85 may incentivize directors and officers to align with shareholder interests.
- The replacement of expired options reduces the immediate cash impact on both the optionees and the company.
- Development of a U.S.-based advanced graphite supply chain addresses the 100% import dependency of the U.S. for natural and synthetic graphite.
- Graphite Creek deposit recognized as the largest graphite deposit in the U.S., providing a strong resource base.
- Plans for a synthetic graphite and battery anode material manufacturing plant in Ohio could position the company strategically in the battery industry.
- Inclusion of a recycling facility in the Ohio plant supports sustainability and a circular economy strategy.
- Stock options granted at $0.85 are significantly higher than the expired options at $0.30, which may reduce the immediate attractiveness of exercising these options.
- Three-year vesting period means potential benefits from the stock options are deferred, delaying possible gains for directors and officers.
- The company’s reliance on the Graphite Creek project introduces a concentration risk if the project faces delays or issues.
- Significant capital expenditure required for the development of the Ohio manufacturing and recycling facilities may strain financial resources.
These Options were issued to replace 900,000 incentive stock options, exercisable at
With
GRAPHITE ONE INC. continues to develop its Graphite One Project (the "Project") to become an American producer of high-grade anode materials that is integrated with a domestic graphite resource. The Project is proposed as a vertically integrated enterprise to mine, process and manufacture anode active materials primarily for the lithium–ion electric vehicle battery market. As set forth in the Company's 2022 Pre-Feasibility Study, graphite mineralization mined from the Company's Graphite Creek Property, situated on the
On Behalf of the Board of Directors
"Anthony Huston" (signed)
For more information on Graphite One Inc., please visit the Company's website, www.GraphiteOneInc.com.
On Twitter @GraphiteOne
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements in this release, other than statements of historical facts, are forward-looking statements. Generally, forward–looking information can be identified by the use of forward–looking terminology such as "proposes", "expects", "is expected", "scheduled", "estimates", "projects", "plans", "is planning", "intends", "assumes", "believes", "indicates", "to be" or variations of such words and phrases that state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, except as required by applicable securities laws. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedarplus.ca.
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