Mr. Anthony Huston reports

GRAPHITE ONE ANNOUNCES CLOSING OF $2.7 MILLION PRIVATE PLACEMENT AND TO PRESENT AT THE 2023 KINVESTOR VIRTUAL CONFERENCE

Graphite One Inc. has closed a non-brokered private placement with Bering Straits Native Corp. for gross proceeds of $2,718,609 through the issuance of 2,802,690 units at a price of 97 cents per unit. Each unit consists of one common share and one common share purchase warrant, with each warrant entitling the holder to acquire, on payment of $1.21 to the company, one common share of the company for a period of 12 months from the closing date of the private placement.

No finder's fee was paid on this private placement and all securities issued in connection with the private placement will be subject to a four-month-plus-one-day hold period ending Jan. 14, 2024.

The company has also granted Bering Straits an option to invest a further $6-million (U.S.) in common shares of the company at any time before Sept. 13, 2024. If and when the option and the warrants are exercised, Bering Straits would have invested a total of $10.4-million (U.S.) in Graphite One, based on the current exchange rate.

The company intends to use the net proceeds to support the feasibility study, community investment and general corporate purposes. Completion of the private placement financing is subject to receipt of final applicable regulatory approvals, including final approval of the TSX Venture Exchange.

Kinvestor Days Virtual Conference

Anthony Huston, president and chief executive officer of Graphite One, is scheduled to present at the 2023 Kinvestor Days Virtual Conference on Sept. 19, 2023, at 10 a.m. PT/1 p.m. ET. More details below.

This year's Kinvestor Days is a two-day virtual conference featuring a stellar lineup of presenting companies in the mining and technology industries. Hosted by Kin Communications president Arlen Hansen, presenting companies will have the opportunity to share about latest developments and answer thoughtful questions from attendees.

Register for free today and reserve your spot to hear from Mr. Huston and other key executives as they discuss the latest in mining, battery metals and technology.

Presentation details

Date:  Sept. 19, 2023

Presentation time:  10 a.m. PT/1 p.m. ET

Presenter:  Mr. Huston, president and CEO

Graphite One's supply chain strategy

With the United States currently 100 per cent import dependent for natural graphite, Graphite One is planning to develop a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek resource. The Graphite One project plan includes an advanced graphite material and battery anode manufacturing plant expected to be sited in Washington state integrated with the development of the Graphite Creek property. The plan includes a recycling facility to reclaim graphite and the other battery materials, to be co-located at the Washington state site, the third link in Graphite One's circular economy strategy.

About Graphite One Inc.

Graphite One continues to develop its Graphite One 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.

We seek Safe Harbor.