09:52 AM EDT, 08/22/2025 (MT Newswires) -- Graphite One ( GPHOF ) on Friday said it closed its previously announced "best efforts" brokered private placement financing for $13.3 million.

The company said the offering was comprised of 4.8-million units at $0.90 apiece. It consisted of one common share and one two-year warrant to buy a share for $1.10.

Proceeds will be used for environmental studies and other permitting related activities on its Graphite Creek property, a contractual milestone payment to Hunan Chenyu Fuji New Energy Technology and for general working capital needs.

Shares of the company were last seen down 1.2% at $0.84 on the TSX Venture Exchange.

Price: 0.88, Change: +0.03, Percent Change: +3.53