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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 10, 2015) - Graphite One Resources Inc. (TSX VENTURE:GPH)(OTCQX:GPHOF) ("Graphite One" or the "Company") announces that in order to preserve its cash to fund development of the Company's Graphite Creek Project, it has entered into agreements ("Settlement Agreements") to issue shares to settle outstanding debt of $66,000 with certain arm's length creditors. The Company intends to issue 733,334 common shares ("Debt Shares") of Graphite One to be issued at a deemed price of $0.09 (the "Transaction"). The Transaction is subject to TSX Venture Exchange approval. |
