Non-brokered deal offers units of one share and one two-year warrant
By Devika Patel
Knoxville, Tenn., July 15 – Graphite One Resources Inc. said it has arranged a C$1 million non-brokered private placement of units.
The company will sell 12.5 million units of one common share and a warrant at C$0.08 per unit.
Each two-year warrant is exercisable at C$0.12, a 33.33% premium to the July 14 closing share price of C$0.09.
Settlement is expected July 31.
Proceeds will be used for exploration and development of the Graphite Creek Project and for general working capital purposes.
The graphite explorer is based in Vancouver, B.C.
| Issuer: | Graphite One Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 12.5 million
|
| Price: | C$0.08
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.12
|
| Agent: | Non-brokered
|
| Pricing date: | July 15
|
| Settlement date: | July 31
|
| Stock symbol: | TSX Venture: GPH
|
| Stock price: | C$0.09 at close July 14
|
| Market capitalization: | C$17.99 million
|
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