The sale of 1% Net Smelter Production Royalty leaves Graphite One debt-free heading into 2024

VANCOUVER, BC, Dec. 27, 2023 /CNW/ - Graphite One Inc. (TSX-V: GPH) (OTCQX: GPHOF) ("Graphite One" or the "Company") announces that Taiga Mining Company, Inc. ("Taiga") has exercised its option to purchase a 1% Net Smelter Production Royalty ("NSR") from the Company. The NSR is attached to 133 Alaska state claims owned or leased by Graphite One which the Company purchased on June 21, 2023 for approximately US$450,000 by issuing to the vendor 456,500 common shares of the Company at a price of CA$1.48 per share. The consideration paid for the sale of the NSR is approximately US$5,220,000, which represents the outstanding Taiga loan balance and accrued interest.