Graphite One Resources Inc. (TSXV:GPH,OTCQX:GPHOF) announced the closing of the second and final tranche of its $2.2 million non-brokered private placement.
As quoted in the press release:
Pursuant to this closing, the Company has issued a total of 17,620,500 units (the “Units”) at a price of C$0.08 per Unit for gross proceeds of $1,409,640. Each Unit consists of one common share and one non-transferable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company at a purchase price of $0.125 per share for a period of 36 months from the date of closing (the “Closing Date”) subject to acceleration as described below.