The company will issue 27,500,000 units at a price of $0.08 per unit. Each unit will comprise one common share and one non-transferable common share purchase warrant.
Graphite One is expected to close the private placement by 15 September 2013, subject to receipt of required regulatory approvals including approval of the TSX Venture Exchange.
The Graphite Creek Property includes 129 claims totaling 6,799ha on the Seward Peninsula of Alaska, 65km north of Nome.
The property fits with the Graphite One business strategy offering considerable potential for the discovery and development of a large flake, graphite deposit exposed at surface.
