BULLETIN V2024-1063
GRAPHITE ONE INC. ("GPH")
BULLETIN TYPE: Miscellaneous
BULLETIN DATE: April 11, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted the Company's warrant incentive program (the "Warrant Incentive Program) designed to encourage the exercise of 11,955,677 existing warrants (the "Existing Warrants") of the Company. Each warrant entitled the holder to acquire one (1) common share at a price of $1.00 per share as described in the Company's news release dated February 13 and February 20, 2024.
Pursuant to the Warrant Incentive Program, each of the holders of warrants that exercised warrants during an early exercise period (the "Early Exercise Period") received an additional warrant (the "Incentive Warrant") entitling such holder to acquire 1 common share of the Company at a price of $1.00 per share and will expire at the earlier of (i) three years from the date of issuance; and (ii) at the Company's option, 30 days, if for any 10 consecutive trading days the closing price of the Company's common shares equals or exceeds $1.20.
The Early Exercise Period commenced on February 20, 2024 and expired on March 28, 2024.
In connection with the Warrant Incentive Program, a total of 5,130,873 warrants were exercised, providing gross proceeds of $5,130,873 to the Company and resulting in the Company issuing 5,130,873 Common Shares and 5,130,873 Incentive Warrants as follows:
Number of shares issued upon exercise of existing warrants: 5,130,873 common shares
Purchase Price (exercise price of the existing warrants): $1.00 per common share
Incentive Warrants: 5,130,873 common share purchase warrants to purchase 5,130,873 common shares
Incentive Warrant Exercise Price: Each Incentive Warrant entitles the holder to acquire one (1) common share at a price of $1.00 per share which will expire on the earlier of at the earlier of (i) three years from the date of issuance; and (ii) at the Company's option, 30 days, if for any 10 consecutive trading days the closing price of the Company's common shares equals or exceeds $1.20.
Number of Placees: 27 Placees
Insider / Pro Group Participation:
Placees # of Placee (s) Aggregate # of Shares
Aggregate Existing Insider Involvement: 1 2,258,957
Aggregate Pro Group Involvement: N/A N/A
All warrants that were not exercised under the Warrant Incentive Program continue to entitle the
holder to acquire common shares as per the original terms of the warrants.
For further details, please refer to the Company's news releases dated February 13, 2024 and February 20, 2024, and April 2, 2024.
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