Graphite One Arranges $500,000 Private Placement

Graphite One Resources Inc. (TSXV:GPH,OTCQX:GPHOF) announced today that it intends to complete a non-brokered private placement offering to raise gross proceeds of up to $500,000.
As quoted in the press release:

The company plans to issue up to 6.25 million units at a price of eight cents per unit. Each unit consists of one common share and one transferable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company at a purchase price of 10 cents per share on or before the date occurring three years following the closing date.
The company may pay finders’ fees to arm’s-length parties in connection with the offering.
The net proceeds of this offering will be used for exploration and development of the company’s Graphite Creek project, and for general working capital purposes.
Closing is expected to occur on or around the end of August, 2015, subject to receipt of final applicable regulatory approvals including approval of the TSX Venture Exchange. All securities issued in connection with the offering will be subject to a restricted period that expires four months following the date of issuance.

View the Graphite One Resources Inc. (TSXV:GPH,OTCQX:GPHOF) press release.
View the Graphite One Resources Inc. (TSXV:GPH,OTCQX:GPHOF) profile.