Graphite One Inc. announced a non-brokered private placement of up to 2,802,690 units at a price of CAD 0.97 per unit for the aggregate gross proceeds of CAD 2,718,609.3 on September 5, 2023. Each unit consists of one common share and one common share purchase warrant and each exercisable at CAD 1.21 per share expiring 12 months from the closing of the private placement. All securities issued in connection with this private placement will have a restricted period that expires four months and one day following the date of issuance.

The transaction is subject to the conditional approval of the TSX Venture Exchange.