Graphite One Welcomes Strategic Investment from Bering Straits Native Corporation ("BSNC"); Creates Regional & Community Development Program
- BSNC's strategic investment of up to US$10.4 million will provide significant financial support to Graphite One's development of Graphite Creek Deposit.
- The investment strengthens the domestic U.S. supply chain for advanced graphite materials.
- Graphite One and BSNC will partner on regional and community development, fostering economic growth in the region.
- None.
BSNC will make an initial investment of
Investment builds on
Graphite One and BSNC will partner on continued regional and community development.
This is not just an investment in Graphite One, it is a long-term investment in our region. We at BSNC have watched for years as Graphite One has worked to advance the Graphite Creek project and become a friendly neighbor in the region," said Dan Graham, BSNC Interim President and CEO. "Graphite One has told us of its intent to develop an environmentally responsible project and provide an exciting economic opportunity for the region that hopefully will play a crucial role in the nation's transition to a clean energy future. This is at the heart of our Board's unanimous support of the project."
"After careful review and many long discussions, we believe Graphite One shares our values of land stewardship and providing benefits to the region. Our investment in Graphite One is about providing opportunities for BSNC shareholders and being proactive about the future of our region," said BSNC Chair Cindy Massie.
Formed in 1972, BSNC is the regional Alaska Native Corporation (ANC) for the Bering Strait region, which includes the
"We are grateful for and humbled by BSNC's support. Working collaboratively, we can make Graphite Creek a project to be modeled after in
The Graphite One-BSNC agreement follows multiple community meetings with local residents and Graphite One officials during 2023. To coordinate regional and community development, G1 and BSNC will establish an advisory board to ensure direct communications of the Company's activities and development details as well as utilize the local expertise of BSNC.
The BSNC investment and community development program follows the July 17, 2023 award to G1's wholly owned subsidiary, Graphite One (
The Initial Investment of
The Company granted BSNC an option to invest a further
Net proceeds from the investment will be used to support the feasibility study, community investment and general corporate purposes.
The funding objective of the DoD-Graphite One (
The DPA funding allows G1 to accelerate its Feasibility Study covering its Graphite Creek Project 60 km (35 miles) north of
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GRAPHITE ONE INC. (TSX‐V: GPH; OTCQX: GPHOF) 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 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
"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, including those related to the timing and completion of the anticipated Feasibility Study, future production, establishment of a processing plant and a graphite manufacturing plant, establishment of a battery materials recycling facility, 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", "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". 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.
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SOURCE Graphite One Inc.
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