Graphite One Inc. announced that it has entered into an agreement with Ronald C. Sheardown to acquire a 1% net smelter production royalty interest against certain claims that are held by the Company which make up a part of the company's Graphite Creek Project in Alaska. Under the terms of the NSR Purchase Agreement, the Company will issue to Sheardown 456,500 common shares of the Company at a price of $1.10 per share for total consideration of USD 500,000, subject to TSX Venture Exchange approval. The common shares issued will be subject to resale restrictions.

The NSR is applied to future production from 133 Alaska state claims owned or leased by Graphite One. Two NSRs on the Graphite Creek Property remain outstanding: a 5.0% and a 2.5% NSR applicable to certain Alaska state claims, of which 2% of each NSR can be purchased for a total of USD 4 million, leaving a 3.0% and 0.5% NSR on their respective claims. Graphite One's Supply Chain Strategy. With the United States currently 100% import dependent for natural graphite, Graphite One is planning to develop a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek resource.

The Graphite One project plan includes an advanced graphite material and battery anode manufacturing plant expected to be sited in Washington State integrated with the development of the Graphite Creek Property. The plan includes a recycling facility to reclaim graphite and the other battery materials, to be co-located at the Washington State site, the third link in Graphite One's circular economy strategy.