Graphite One closes $35 million public offering to fund AAM plant, Ohio

Graphite One Inc. [TSXV: GPH; OTCQX: GPHOF; FRA: 2JCA] has closed its previously announced marketed public offering, pursuant to which the company sold 20,002,000 units for aggregate gross proceeds of $35 million, which includes the full exercise of the agent option. The offering was conducted by a syndicate of agents, led by BMO Capital Markets.

Each unit consists of one common share of the company and one common share purchase warrant of the company at a price of $1.75 per unit. Each warrant entitles the holder to acquire one common share at a price of $2.25 per share for 36 months.

The offering was made pursuant to a prospectus supplement dated February 11, 2026, to the company’s existing Canadian base shelf prospectus filed on January 20, 2026, and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended, and in certain other jurisdictions outside of Canada and the United States.

The company intends to use the net proceeds of the offering for AAM plant-related expenditures (Active Anode Materials) in Ohio, including the design and engineering, permitting, and equipment purchases, and for general working capital purposes, as is more fully described in the prospectus supplement.

As consideration for their services, the company has paid the agents a cash fee totalling $2,010,210.

Graphite One continues to develop its Graphite One project with the goal of becoming an American producer of high-grade anode materials that are integrated with a domestic graphite resource. The project is proposed as a vertically integrated enterprise to mine and process natural graphite and to manufacture artificial and natural graphite anode active materials primarily for the lithium-ion electric vehicle battery and energy storage markets.