Graphite One Increases Financing Further to $1.5 million

Graphite One Resources Inc. (TSXV:GPH,OTCQX:GPHOF) announced a further increase in its previously announced financing, from $1.0 million up to $1.5 million, with the price of the Offering remaining at C$0.07 per unit.
As quoted in the press release:

announce that it is increasing the financing previously announced on August 20, 2015 and September 14, 2015 from $1.0 million up to $1.5 million in gross proceeds to be raised in the non-brokered private placement offering (the “Offering”). The price of the Offering remains at C$0.07 per unit and all other terms of the Offering remain the same.
The Company plans to issue up to 21.43 million units (the “Units”) with each Unit consisting of one common share and one transferable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one common share of the Company at a purchase price of C$0.10 per share on or before the date occurring 3 years following the Closing Date.
As previously disclosed, 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. The Company may pay finders’ fees to arm’s-length parties in connection with the Offering.
Closing is expected to occur on or around September 25, 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.

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