Graphite One Inc. announces investment from Doyon Limited and Aleut

VANCOUVER — Graphite One Inc. announces the closing of a strategic investment from Doyon Limited and Aleut, both Alaska Native corporations, for aggregate gross proceeds of US$5.0 million (CDN$7.0 million) by way of a non-brokered private placement of 8,514,024 units at a price of CDN$0.82 per unit (the Unit).

Each Unit consists of one common share and one full common share purchase warrant (a Warrant). Each Warrant entitles the warrant holder to acquire one Common Share of the Company at a price of CDN$1.03 per Common Share expiring three (3) years from the closing of the private placement and includes participation rights on future financings so long as the Warrants remain outstanding.

Gross proceeds from the private placement will reportedly be used to conduct environmental studies and other permitting related activities on the Graphite Creek property, and for general corporate purposes.

“For Doyon, this is not just an investment in Graphite One, it is a long-term investment in Alaska,” said Aaron Schutt, President and CEO of Doyon Limited. “With decades of experience in responsible resource development, Doyon looks forward to working with Graphite One to bring the Graphite Creek Critical Minerals Project into production.”

“This investment reflects Aleut’s belief in renewable energy. Graphite is a critical resource in building that future and we believe Graphite One shares in our commitment for responsible development,” said Skoey Vergen, CEO & President of Aleut. “Not only does this create value for our shareholders, it opens up the potential for future opportunities in Alaska that could benefit our region.”

“All of us at Graphite One are grateful for these investments from Doyon and Aleut Corp, joining Bering Straits Native Corporation, which made its strategic investment in G1 in 2023. We are pleased and honored to be the first Critical Mineral project to have direct investment from three Alaska Native Regional Corporations” said Anthony Huston, President and CEO of Graphite One. “We greatly appreciate the trust placed in us through these partnerships, together with your support, seek to make Graphite Creek a model of responsible development that brings long-term benefits to your communities and the State of Alaska.”

In a press release, Graphite One Inc. stated that the Project is planned as an integrated business operation to produce lithium-ion battery anode materials and other graphite products for the U.S domestic market on a commercial scale using primarily natural graphite from Alaska. The Project reportedly combines the operation of an advanced graphite manufacturing facility to be located in Warren Ohio, subject to financing, with the supply of natural flake graphite from the Company’s proposed Graphite Creek Mine in Alaska.