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GRAPHITE ONE INC. (GPHOF) is a company focused on developing a complete U.S.-based supply chain for advanced graphite materials. The company's core business involves mining, processing, and manufacturing anode active materials primarily for lithium-ion electric vehicle batteries and energy storage systems. Their Graphite Creek Property in Alaska is set to be a key component of their vertically integrated enterprise. With major projects underway in Ohio and Alaska, Graphite One is striving to achieve self-reliance for the U.S. in terms of critical minerals like graphite. The company has made significant progress in securing Department of Defense grants and establishing partnerships to enhance its market presence.
Graphite One Inc. (TSXV:GPH, OTCQX:GPHOF) has successfully closed the first tranche of its private placement financing, raising C$7,727,000. This funding comprises 7,727,000 units priced at C$1.00 each, including common shares and warrants. Additionally, Taiga Mining Company subscribed for 2,501,581 units, bringing total proceeds to C$10,228,581. The funds will support exploration and development at the Graphite Creek Property. The financing is pending final regulatory approvals, with securities subject to a four-month hold period until December 13, 2021.
Graphite One Inc. has extended its engagement with Kin Communications for investor relations support, effective from March 1, 2021, with compensation set at CA$10,000 monthly. Additionally, the company announced a loan repayment extension with Taiga Mining Company for US$4.8 million, moving the maturity date from September 6, 2021, to September 6, 2022. This extension allows for continued interest accrual. The company is advancing its Graphite One Project aimed at producing high-grade Coated Spherical Graphite for the lithium-ion battery market.
Graphite One Inc. (TSXV:GPH)(OTCQX:GPHOF) has launched its 2021 Drilling Program at the Graphite Creek Property near Nome, Alaska. The program includes 3,000 meters of HQ core infill drilling aimed at enhancing the Measured and Indicated Resources for the upcoming Feasibility Study, following the Pre-Feasibility Study completion anticipated in Q4 2021. With U.S. dependency on foreign graphite supply, this project aims to establish domestic production for the electric vehicle market and energy storage systems, aligning with government critical mineral strategies.
Graphite One Inc. announced the approval of its new Omnibus Equity Incentive Plan, which allows for the issuance of up to 6,520,000 common shares to attract and motivate employees and directors. This Plan was approved by disinterested shareholders during the Annual General Meeting on June 15, 2021. The Company aims to enhance its compensation strategies through this wide range of incentive awards, ensuring compliance with the TSX Venture Exchange regulations. Additionally, Graphite One is progressing on its Graphite One Project, which plans to become a producer of high-grade Coated Spherical Graphite for the EV market.
Graphite One Inc. (TSXV:GPH)(OTCQX:GPHOF) announced successful outcomes from its annual general and special meeting held on June 15, 2021. All proposals were approved, including the election of board nominees and the re-appointment of PricewaterhouseCoopers as auditors. The Company aims to develop its Graphite One Project, which aspires to become a U.S. producer of high-grade Coated Spherical Graphite for electric vehicle batteries. The project is progressing to its Pre-Feasibility Study phase, and the Omnibus Plan awaits final TSX-V approval.
Graphite One Inc. announced plans for a 2021 Drilling Program at its Graphite Creek Property in Alaska, aiming to in-fill and expand graphite resources. The company secured CA$10M for a Preliminary Feasibility Study (PFS), set for completion in Q4 2021, with approximately 3,000 meters of drilling planned. The program will enhance understanding of the project for future developments in the U.S. graphite supply chain, critical for electric vehicle batteries. The company also appointed Zhengli Tan as Director of Graphite Products Manufacturing to focus on high-grade graphite production.
Graphite One Inc. has officially upgraded to the OTCQX® Best Market, beginning trading under the symbol GPHOF. This transition from the OTCQB® Venture Market allows the company to enhance its visibility among U.S. investors. The OTCQX Market is tailored for established companies adhering to high financial standards and governance best practices. Graphite One continues to advance its Graphite One Project in Alaska, aiming to become a major U.S. producer of high-grade Coated Spherical Graphite, primarily for the electric vehicle battery market.
Graphite One has announced the acceleration of the expiry date of its 2,500,000 common share purchase warrants, originally set to expire on October 8, 2025, to April 29, 2021. This decision follows a surge in the common share price above the exercisable price of $0.61 for 10 consecutive trading days ending March 12, 2021. The warrants were issued as part of a net smelter royalty acquisition in October 2020. This move is part of Graphite One's strategy to enhance its position in the graphite supply chain, particularly for the electric vehicle market.
Graphite One Inc. (OTCQB:GPHOF) welcomed a new Executive Order issued by U.S. President Biden on February 24, 2021, that prioritizes critical supply chains, including EV batteries and advanced semiconductors. The order emphasizes graphite as a critical mineral essential for these sectors. With rising demand for electric vehicles, anticipated to grow from 2 million in 2021 to over 55 million by 2040, Graphite One's Graphite Creek project, designated a High-Priority Infrastructure Project, positions the company favorably in the renewable energy landscape.
Graphite One, listed under GPHOF, has successfully completed two non-brokered private placements, raising a total of CA$10 million.
The proceeds will fund the evaluation of its graphite materials supply chain project and the upcoming Pre-Feasibility Study, scheduled for mid-2021.
A total of 16 million units were issued at CA$0.50 per unit and 2.56 million units at CA$0.78 per unit, with associated warrants. The Company also granted 2,105,000 stock options priced at $1.02, expiring in 2026.
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