Graphite One Closes $634,161 Financing

Graphite One Resources Inc. (TSXV:GPH,OTCQX:GPHOF) announced it has completed and closed on its previously announced additional non-brokered private placement, which together with the previously announced financing that occurred at the end of September, has raised total gross proceeds of $1.99-million.
As quoted in the press release:

Pursuant to this closing, the Company has issued a total of 9,059,449 units (the “Units”) at a price of C$0.07 per Unit. Each Unit consists of one common share and one transferable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company at a purchase price of $0.10 per share for a period of three years from the date of the closing of the Private Placement.
No new insiders were created, nor any change of control occurred, as a result of the offering. The Company has paid finders’ fees in the aggregate amount of C$20,384 and issued 291,200 transferrable share purchase warrants, each such warrant entitling the holder to acquire one additional common share of the Company at the same price and under the same terms as the Warrants described above.
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.

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