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Graphite One Inc OTCQX:GPHOF TSXV:GPH

Graphite One and Lucid Announce Non-Binding U.S. Graphite Supply Agreement

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Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) announced a non-binding Supply Agreement with Lucid (NASDAQ: LCID).

  • The non-binding Supply Agreement concerns anode active materials (AAM) for Lucid’s electric vehicles.
  • The agreement was announced during a briefing held at the U.S. Capitol on July 25, 2024.
  • Graphite One describes the arrangement as a 100% U.S.-based supply chain linking Alaska, Ohio and Arizona.
  • Subject to project financing, the Graphite One Project plan includes an advanced graphite material and battery anode material manufacturing plant in Warren, Ohio.
  • The plan also includes a recycling facility to reclaim graphite and other battery materials, co-located at the Ohio site.
  • The company intends to make a production decision on the Project upon completion of the Feasibility Study.

The release identifies finalization of a definitive binding agreement with Lucid as forward-looking. The Project would process Graphite Creek material into concentrate at an adjacent plant, then manufacture products in northeastern Ohio.

Investor FAQs

Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) participated in a July 25, 2024 briefing announcing a non-binding supply agreement with Lucid (NASDAQ: LCID) for anode active materials. The source also refers to the potential future finalisation of a definitive binding agreement, so the announcement does not describe a completed binding contract.
Graphite One describes a planned U.S.-based supply chain linking the Graphite Creek deposit in Alaska, an advanced graphite materials and battery anode materials manufacturing plant in Warren, Ohio, and Lucid’s electric vehicle manufacturing operations in Arizona. The plan also includes a recycling facility to reclaim graphite and other battery materials at the Ohio site.
The proposed Ohio manufacturing plant is subject to project financing. Graphite One says it intends to make a production decision on the Project upon completion of the Feasibility Study. The source also identifies the establishment of the processing, manufacturing and recycling facilities, and the finalisation of a definitive binding agreement with Lucid, as forward-looking matters rather than completed developments.
The Graphite Creek Property is situated on the Seward Peninsula about 60 kilometers north of Nome, Alaska. Graphite One describes the Graphite Creek deposit as recognised by the US Geological Survey as the largest graphite deposit in the U.S. and among the largest in the world. The Company is continuing to develop the Graphite One Project, which is proposed as a vertically integrated enterprise.
Congressman Dave Joyce said the new Ohio advanced graphite production site in Niles, Ohio, would bring over 160 jobs to his district and spur further economic growth. The source also says Bering Straits Native Corporation, which is owned and managed by more than 8,200 Native Alaskan shareholders and owns and manages a subsurface estate of approximately 2.1 million acres, is an investor in Graphite One.
Graphite One cautions that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially. Listed factors include market prices, exploitation and exploration successes, continuity of mineralisation, the ability to obtain necessary permits, licences and title, delays due to third-party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. The Company also says there is no certainty that tests of its material will be successful or lead to successful products.
The source does not provide the volume, pricing, duration or other commercial terms of the non-binding Supply Agreement. It also does not state that a definitive binding agreement has been completed, or provide confirmed production or revenue figures.

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