Graphite One Resources Inc. (TSXV:GPH,OTCQX:GPHOF) closed the non-brokered private placement for gross proceeds of C$600,000. The private placement consisted of 4,285,785 units at a price of C$0.14 per unit.
As quoted in the press release:
Each Warrant is exercisable into one common share of the Company for a period of five years from closing at an exercise price of C$0.20 per share in the first two years and C$0.30 per share for the remainder of the period.
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