Graphite One CFO Retires, Interim CFO Appointed

Rhea-AI Summary

Graphite One Inc. has announced the retirement of Chief Financial Officer W. Alan Ahlgren after 7 years, with Gordon Jang appointed as Interim CFO. Jang, a CPA, CMA, brings over 25 years of experience in senior management within the mining sector. His prior roles include VP of Finance at Fortuna Silver Mines. The company continues to progress on its Graphite One Project, aiming to integrate domestic graphite resource production and achieve vertical integration for lithium-ion battery anode materials. A production decision will follow the completion of a feasibility study.

Positive

• Appointment of experienced Interim CFO Gordon Jang, ensuring stability during transition.
• Ongoing development of the Graphite One Project, which may lead to domestic production of high-grade anode materials.

Negative

• None.

VANCOUVER, BC / A CCESSWIRE / March 1, 2022 / Graphite One Inc. (TSXV:GPH)(OTCQX:GPHOF) ("Graphite One" or the "Company") announces that W. Alan Ahlgren, Chief Financial Officer and Corporate Secretary, is retiring after 7 years with the Company. Gordon Jang has been appointed Interim Chief Financial Officer by the Board of Directors while the Company seeks a permanent replacement. Mr. Ahlgren will continue on with the Company in a consulting role to assist with the transition.

"Alan has made an immense contribution to the Company. We thank him for his years of dedication, guidance and friendship and wish him well in his retirement. The Company is fortunate to retain Gordon Jang to step in on an interim basis. He brings significant experience and expertise. We also appreciate that Alan has agreed to assist with the transition for an extended period."

Gordon Jang, CPA, CMA has over 25 years of experience in senior management roles with mid-to-large mining companies. He brings a wealth of expertise in capital markets, M&A, SOX compliance, external financial reporting, corporate restructuring, cost analysis and process improvements. Mr. Jang was previously the Vice-President of Finance and Accounting at Fortuna Silver Mines, and prior to that, has held senior positions at Augusta Resources, Lundin Mining and Pan American Silver.

About Graphite One Inc.

GRAPHITE ONE INC. (GPH:TSX‐V; GPHOF:OTCQB) continues to develop its Graphite One Project (the "Project"), whereby the Company could potentially 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 high grade anode materials primarily for the lithium‐ion electric vehicle battery market. As set forth in the Company's Preliminary Economic Assessment, potential graphite mineralization mined from the Company's Graphite Creek Property, is expected to be processed into concentrate at a graphite processing plant. The proposed processing plant would be located on the Graphite Creek Property situated on the Seward Peninsula about 60 kilometers north of Nome, Alaska. Graphite anodes and other value‐added graphite products would be manufactured from the concentrate and other materials at the Company's proposed advanced graphite materials manufacturing facility, the location of which is the subject of further study and analysis. The Company intends to make a production decision on the Project once a feasibility study is completed.

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 or contact:

Anthony Huston
CEO, President & Director
Tel: (604) 889-4251
Email: AHuston@GraphiteOneInc.com

Investor Relations Contact
Tel: (604) 684-6730
GPH@kincommunications.com

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, including those related to the timing and completion of the anticipated Pre-Feasibility Study, future production, establishment of a processing plant and a graphite manufacturing plant, and events or developments that the Company intends, expects, plans, or proposes are forward-looking statements Generally, forward‐looking information can be identified by the use of forward‐looking terminology such as "proposes", "expects", or "is expected", "scheduled", "estimates", "projects", "intends", "assumes", "believes", "indicates" 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". The Company cautions that there is no certainty that tests of the Company's material will be successful or that such tests will result in the development of successful products. 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.sedar.com.

SOURCE: Graphite One Inc.

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FAQ

Who is the new Interim CFO of Graphite One Inc.?

Gordon Jang has been appointed as the Interim Chief Financial Officer of Graphite One Inc.

What does the Graphite One Project aim to achieve?

The Graphite One Project aims to produce high-grade anode materials integrated with a domestic graphite resource for the lithium-ion battery market.

When was the CFO retirement announced by Graphite One?

The retirement of CFO W. Alan Ahlgren was announced on March 1, 2022.

What experience does Gordon Jang bring to Graphite One?

Gordon Jang has over 25 years of experience in senior management roles in the mining sector, including positions at Fortuna Silver Mines and Lundin Mining.

What is the significance of the feasibility study for Graphite One?

The feasibility study will inform a production decision for the Graphite One Project, determining the project's viability for producing anode materials.