Graphite One (TSX-V:GPH) is conducting a private placement to raise up to C$18 million ($20.02 million) to conduct environmental studies and other permitting activities on the Graphite Creek Project in Alaska.
Under the agreement with a syndicate of agents managed by BMO Capital Markets, one common share and one-half of one common share purchase warrant will be issued at C$0.90 per unit.
Each warrant entitles the holder to acquire one share at C$1.25 per share for a 12-month period.
Graphite One has also granted the agents the option, exercisable in whole or in part, at any time up to 48 hours prior to the closing date, to purchase up to an additional 15% of the units at the issue price of the placement.
The funds will also be used towards the Chenyu milestone payments and general working capital.
The offering is expected to close on or around 8 August 2025, subject to receiving necessary approvals.
Graphite One aims to become an American producer of high-grade anode material that is integrated with a domestic graphite resource.
The Graphite Creek Project is proposed as a vertically integrated enterprise to mine and process natural graphite and to manufacture artificial and natural graphite anode active materials primarily used for lithium-ion electric vehicle battery and energy storage markets.
Write to Aaliyah Rogan at Mining.com.au
Images: Graphite One
