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VANCOUVER, BC, Nov. 21, 2022 /CNW/ - Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) ("Graphite One" or the "Company") is pleased to announce that it has closed the final tranche of the previously announced upsized non-brokered private placement (the "Offering") raising gross proceeds of $645,052 through the issuance of 560,916 units at a price of $1.15 per unit ("Final Tranche Financing"). Each unit consists of one common share and one common share purchase warrant (a "Warrant"), with each Warrant entitling the holder to acquire, on payment of $1.50 to the Company, one common share of the Company for a period of 24 months from the date of issuance, which is subject to an acceleration provision, as described below. In total, the Company raised gross proceeds of $10,721,434 through the issuance of 9,322,987 units under this Offering.