EDITOR: | October 1st, 2015

Graphite One Closes Financing and Announces Additional Offering

| October 01, 2015 | No Comments
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Graphite-One-Resources-200x125October 1, 2015 (Source: Marketwired) — Graphite One Resources Inc. (TSX VENTURE:GPH)(OTCQX:GPHOF) (“Graphite One” or the “Company”) is pleased to announce it has completed and closed on its previously announced non-brokered private placement (“Private Placement“) and has raised gross proceeds of $1,359,234.94.

Pursuant to this closing, the Company has issued a total of 19,417,642 units (the “Units”) at a price of C$0.07 per Unit. Each Unit consists of one common share and one transferable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company at a purchase price of $0.10 per share for a period of three years from the date of the closing of the Private Placement.

No new insiders were created, nor any change of control occurred, as a result of the offering. The Company has paid finders’ fees in the aggregate amount of C$85,710 and issued 1,224,434 transferrable share purchase warrants, each such warrant entitling the holder to acquire one additional common share of the Company at the same price and under the same terms as the Warrants described above.

The net proceeds of this offering will be used for exploration and development of the Company’s Graphite Creek project and for general working capital purposes.

Closing is subject to receipt of final applicable regulatory approvals including approval of the TSX Venture Exchange. All securities issued in connection with the private placement will be subject to a restricted period that expires four months following the date of issuance.

Further, the Company is pleased to announce that it intends to close on an additional financing to raise gross proceeds of approximately $600,000 in the coming weeks. The Company plans to issue up to 8,571,428 Units, on the same terms and conditions as yesterday’s completed Private Placement and may pay finder’s fees to arm’s-length parties in connection with this offering. The offering is subject to receipt of final applicable regulatory approvals, including approval of the TSX Venture Exchange.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Graphite One

GRAPHITE ONE RESOURCES INC. (TSX VENTURE:GPH)(OTCQX:GPHOF) is exploring with the intent to develop the Graphite Creek Project, USA’s largest known large flake graphite deposit situated on the Seward Peninsula of Alaska about 60 kilometers north of Nome. The Project is progressing from the exploration to the evaluation phase. Work to date has identified a large, high grade and at-surface resource with simple geology and good mineralization continuity. The Project has the potential to produce products that will effectively compete in the high end battery market (for both electric vehicles and power storage) as well as other markets for purified graphite and graphite by-products. For more information please see www.graphiteoneresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS

“Anthony Huston” (signed)

For more information on Graphite One Resources Inc please visit the Company’s website, www.GraphiteOneResources.com.

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.

This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address receipt of regulatory approvals, use of proceeds, timing of closing of additional Offering, final amounts raised under the Offering, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. 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.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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