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VANCOUVER, BC, Dec. 16, 2024 /CNW/ - Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) ("Graphite One" or the "Company"), announces that it is undertaking a non-brokered private placement financing of units (each, a "Unit") at CDN$0.75 per Unit for aggregate gross proceeds of up to: (i) CDN$4,125,000 to purchasers resident in Canada, except Quebec, in accordance with Part 5A of National Instrument 45-106 – Prospectus Exemptions ("NI 45-106") listed issuer financing exemption (the "LIFE Financing") and (ii) CDN$3,375,000 to purchasers resident outside of Canada (the "Concurrent Private Placement" and together with the LIFE Financing, the "Offering"). Each Unit consists of one common share (a "Common Share") of the Company and one common share purchase warrant (a "Warrant"), with each Warrant entitling the holder thereof to acquire one additional Common Share at a price of CDN$1.00 per share and expires at the earlier of: (i) two (2) years from the closing date of the Offering; or (ii) at the Company's option, 30 days from the date of announcement to accelerate the expiry date, if for any ten (10) consecutive trading days the closing price of the Company's common shares on the TSX Venture Exchange (the "TSXV") is at or exceeds CDN$1.50.