Significant Investment in Graphite One by Doyon and Aleut
Doyon and Aleut have made an investment totaling US$5.0 million in Graphite One, fully supporting the development of the Graphite Creek Deposit
Doyon and Aleut join Bering Straits Native Corporation as G1 investors
Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF), planning a complete domestic U.S. supply chain for advanced graphite materials, is pleased to announce the closing of a strategic investment from Doyon Limited and Aleut, both Alaska Native corporations. This investment totals an aggregate gross of US$5.0 million (CDN$7.0 million) through a non-brokered private placement of 8,514,024 units priced at CDN$0.82 per unit.
Each unit consists of one common share (a "Common Share") and one full common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one Common Share of the Company at a price of CDN$1.03 per Common Share, expiring three years from the closing of the private placement. Participation rights on future financings are included as long as the Warrants remain outstanding. The Company has received conditional approval for this offering from the TSX Venture Exchange, pending final approval.
The proceeds from this private placement will be primarily allocated to environmental studies and other permitting activities related to the Graphite Creek property, alongside general corporate purposes. Notably, there were no finder or broker fees associated with this private placement.
"For Doyon, this is not just an investment in Graphite One, it is a long-term investment in Alaska,” stated Aaron Schutt, President and CEO of Doyon Limited. "With decades of experience in responsible resource development, we look forward to partnering with Graphite One to advance the Graphite Creek Critical Minerals Project into production."
"This investment reflects Aleut's commitment to renewable energy," said Skoey Vergen, CEO & President of Aleut. "Graphite is a key resource for building a sustainable future, and we believe Graphite One shares our vision for responsible development. This not only generates value for our shareholders but also creates potential future opportunities that can benefit our region."
"We at Graphite One are thankful for the investments from Doyon and Aleut Corp, joining Bering Straits Native Corporation as supportive investors. We are honored to be the first Critical Mineral project receiving direct investments from three Alaska Native Regional Corporations,” remarked Anthony Huston, President and CEO of Graphite One. "Together, we aim to make Graphite Creek a benchmark for responsible development, providing long-term benefits to local communities and the state of Alaska."
Graphite One's Supply Chain Initiative
The vision for the Graphite Creek project is to establish a robust integrated business operation dedicated to producing lithium-ion battery anode materials and other graphite products for the U.S. domestic market on a substantial scale. The initiative will utilize primarily natural graphite sourced from Alaska. It combines an advanced manufacturing facility for graphite located in Warren, Ohio, dependent on financing, with the provision of natural flake graphite from the Company’s proposed Graphite Creek Mine.
The resources linked to the Company’s Alaska State mining claims have been recognized by the U.S. Geological Survey, designated as the largest natural graphite deposit in America as of early 2022 and cited as one of the largest globally in 2023. This acknowledgment aligns with the verified significant increase in the size of the deposit outlined in the feasibility study. The Company has also entered into two non-binding letters of interest with the EXIM Bank, seeking loans up to $895 million to support the development of the Graphite Creek mine and the establishment of the Ohio manufacturing facility.
About Doyon Limited
Headquartered in Fairbanks, Doyon, Limited serves over 20,500 shareholders. Established under the 1971 Alaska Native Claims Settlement Act, Doyon has subsidiaries spanning various sectors, including oilfield services, government contracting, and tourism. The Company stands as the largest private landowner in Alaska and is consequently one of the most significant landholders in North America. Their mission is to enhance financial strength as a Native corporation, foster the economic and social well-being of its shareholders and future generations, protect the area’s Native way of life, and sustain its land and resources.
About Aleut
Aleut is an Alaska Native regional corporation formed under the Alaska Native Claims Settlement Act of 1971. It currently serves more than 5,000 Unangax? shareholders and their descendants from the Aleutian and Pribilof Island region. Aleut is committed to providing economic growth and opportunities. Its business portfolio includes operations in government and mechanical contracting, real estate, technology and infrastructure, fuel sales, port services, environmental services, and energy.
About Graphite One Inc.
Graphite One Inc. is dedicated to advancing its Graphite One Project (the "Project") with the aim of establishing itself as an American producer of high-grade anode materials integrated with domestic graphite resources. The Project focuses on vertically integrating operations to mine and process natural graphite, alongside manufacturing artificial and natural graphite anode active materials primarily for lithium-ion electric vehicle battery and energy storage markets.
Frequently Asked Questions
What is the total amount invested by Doyon and Aleut in Graphite One?
Doyon and Aleut have invested a combined total of US$5.0 million in Graphite One.
What will the proceeds from the investment be used for?
The funds will support environmental studies, permitting activities, and general corporate purposes related to the Graphite Creek project.
How does this investment impact Graphite One’s operations?
This investment supports the development of the Graphite Creek project, enhancing Graphite One’s efforts to establish a reliable U.S. supply chain for graphite materials.
What is the strategic significance of Graphite One's project?
The project aims to produce lithium-ion battery anode materials, facilitating domestic supply and sustainability in the U.S. electric vehicle and energy storage markets.
Who are the stakeholders involved with the Graphite Creek project?
The stakeholders include Doyon Limited, Aleut Corporation, and Bering Straits Native Corporation, all of whom have invested in the project.
