GRAPHITE ENERGY CORP. ANNOUNCES PRIVATE PLACEMENT
Vancouver, B.C. (March 15, 2018) – Graphite Energy Corp. (CSE:GRE, OTC:GRXXF, FWB:G0A) (the “Company) is pleased to announce it intends to issue, by way of a non-brokered private placement, up to 2,000,000 common shares in the capital of the Company (the “Common Shares”, and each a “Common Share”) at a price of $0.50 per Common Share for total gross proceeds of up to $1,000,000 (the “Offering”).
The net proceeds received from the Offering will be used to fund exploration work at the Company’s Lac Aux Bouleaux Graphite Property and for general working capital.
All Common Shares issuable in connection with the Offering will be subject to a hold period expiring four months and one day following the date of issuance.
Closing of the Offering is subject to receipt of all necessary regulatory approvals.
About Graphite Energy Corp.
Graphite Energy Corp. is a Canadian-based issuer listed on the Canadian Securities Exchange. It is currently engaged in the business of exploration of mineral properties in Canada and holds the right to acquire a 100% interest, subject to certain royalties, in and to the Lac Aux Bouleaux Graphite Property located near the town of Mont-Laurier in Southern Quebec. The Lac Aux Bouleaux Graphite Property consists of 14 claims covering an area of 738.12 hectares. The Company’s objective is to explore and, if warranted, develop the Lac Aux Bouleaux Graphite Property.
ON BEHALF OF THE BOARD OF
GRAPHITE ENERGY CORP
/s/ “Afzaal Pirzada”
President and Chief Executive Officer
For further information, please telephone: (604) 428-7050
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
photo credit: Graphite Energy