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VANCOUVER, BC, May 10, 2022 /CNW/ - Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) ("Graphite One" or the "Company"), is pleased to announce the appointment of Mr. Scott Packman to the Company's Board of Directors.
Prior to joining the Graphite One Board of Directors, Mr. Packman served as General Counsel and Executive Vice President of Madison Square Garden Entertainment Corp. (NYSE: MSGE). He also served as the General Counsel of MGM Holdings Inc., the owner of the iconic MGM movie and television studio, for over 12 years. Mr. Packman is currently the Managing Member of SSP Partners, which identifies, evaluates, and advises on strategic transactions for financiers.
Mr. Packman graduated from the New York University School of Law and was admitted to the California, Florida, and New York state bars. He also holds an M.B.A. from the University of Texas.
"Scott is highly regarded as a corporate strategist, successful operator, trusted advisor and as a pre-eminent negotiator and attorney. His addition to our Board of Directors is evidence of Graphite One's focus on enhancing and broadening the skillset of its Board of Directors," said Anthony Huston, CEO of Graphite One. "His deep experience counseling public and private companies in fast-moving transactions will prove invaluable. Graphite One isn't just planning to develop a graphite source, we're planning a complete advanced material supply chain. We expect to find Scott's business acumen a huge benefit to Graphite One as we advance each link in the Graphite One supply chain."
Recently, U.S. President Joe Biden invoked the Defense Protection Act for battery materials, including graphite1, and signed into law the bipartisan infrastructure bill allocating more than $6 billion for domestic supply chain and critical mineral development.2
"I'm delighted to join the Board of Graphite One at this time of tremendous change," Mr. Packman said, "not only in terms of how technology is transforming so many key elements of our lives, from energy to communications, medical and defense technologies – but also at a time when stakeholders are focused on socially responsible resource development, advanced manufacturing to meet our future technology needs, and recycling programs to create a full circle economy out of the resources that are extracted to minimize environmental impact."
The appointment of Mr. Packman will expand the Company's board of directors from four to five members.
As announced on March 7, 2022, Graphite One Inc.'s Graphite Creek resource in Alaska has been cited as the largest known graphite deposit in the United States by the U.S. Geological Survey (USGS) in its updated U.S. Mineral Deposit Database (USMIN).
The USGS report confirms Alaska Governor Mike Dunleavy's statement in support of Graphite One's designation as a U.S. government high-priority infrastructure project, stating, "Graphite Creek is the largest deposit of graphite in the nation and would be a superior domestic supply of this critical mineral."
With the United States currently 100 per cent import dependent for natural graphite, Graphite One is developing a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek resource near Nome, Alaska. The Graphite One project plan includes an advanced graphite material and battery anode manufacturing plant expected to be located in Washington State along with the development of the Graphite Creek resource.
Graphite One anticipates publishing its Project Preliminary-Feasibility Study in Q2 2022.
Marketing Awareness Program
As part of Graphite One's ongoing strategy to raise the profile of the Graphite One Project to investors, the Company has entered into an agreement with Promethean Marketing Inc. ("Promethean"), based in Maryland, USA, whereby Promethean will provide digital marketing services including content creation, distribution, and market awareness campaigns. The Company will pay an initial creation fee of US$50,000, US$150,000 for the first month, and up to US$200,000 per month thereafter. The agreement with Promethean continues on a month-to-month basis and can be terminated with 30 days' written notice. To the best of our knowledge Promethean nor any of its principals currently own any common shares, directly or indirectly, in the Company.
About Graphite One Inc.
GRAPHITE ONE INC. (TSXV: GPH) (OTCQX: GPHOF) continues to develop its Graphite One Project (the "Project"), whereby the Company could potentially become an American producer of high-grade anode materials that is integrated with a domestic graphite resource. The Project is proposed as a vertically integrated enterprise to mine, process, and manufacture high grade anode materials primarily for the lithium‐ion electric vehicle battery market. As set forth in the Company's Preliminary Economic Assessment, potential graphite mineralization mined from the Company's Graphite Creek Property, is expected to be processed into concentrate at a graphite processing plant. The proposed processing plant would be located on the Graphite Creek Property situated on the Seward Peninsula about 60 kilometers north of Nome, Alaska. Graphite anodes and other value‐added graphite products would be manufactured from the concentrate and other materials at the Company's proposed advanced graphite materials manufacturing facility expected to be located in Washington State. The Company intends to make a production decision on the Project once a feasibility study is completed.
On Behalf of the Board of Directors
"Anthony Huston" (signed)
For more information on Graphite One Inc., please visit the Company's website, www.GraphiteOneInc.com or contact:
CEO, President & Director
Tel: (604) 889-4251
Investor Relations Contact
Tel: (604) 684-6730
On Twitter @GraphiteOne
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements in this release, other than statements of historical facts, including those related to the expectation that the Company's plans will be realized, the timing and ability of the Company to receive necessary regulatory approvals, the timing and completion of the anticipated Preliminary Feasibility Study, statements regarding future production and establishment of a processing plant and a graphite manufacturing plant, and events or developments that the Company intends, expects, plans, or proposes are forward-looking statements Generally, forward‐looking information can be identified by the use of forward‐looking terminology such as "proposes", "expects", or "is expected", "scheduled", "estimates", "projects", "intends", "assumes", "believes", "indicates" or variations of such words and phrases that state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The Company cautions that there is no certainty that tests of the Company's material will be successful or that such tests will result in the development of successful products. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, except as required by applicable securities laws. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.
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SOURCE Graphite One Inc.
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