Graphite One Secures CAD 30 Million to Fund Anode Material Plant Ahead of Permitting Milestones

Graphite One Inc., the Canadian-listed company, has locked in fresh capital to push forward with its Anode Active Material (AAM) production initiative. The firm plans to issue 17.142 million units at a price of CAD 1.75 per unit, targeting total proceeds of CAD 30 million. The closing of the offering is slated for February 18, 2026.

The financing arrives at a pivotal moment for the company: its Graphite Creek project in Alaska is currently navigating the federal permitting process, with the Federal Permitting Council aiming to complete the procedure by the end of September 2026.

Key terms of the offering:
- Volume: CAD 30 million
- Unit price: CAD 1.75 per unit
- Warrant price: CAD 2.25, exercisable over 36 months
- Over-allotment option: up to CAD 5 million in additional proceeds
- Lead underwriter: BMO Capital Markets

Where the funds will go

Graphite One intends to channel the new capital directly into advancing its AAM facility. Planned uses include:

• Design and engineering work for the production site
• Completion of permitting processes
• Acquisition of equipment
• General working capital

The company is pursuing an integrated supply chain approach: graphite sourced from Graphite Creek in Alaska would be processed into anode material at a planned facility in Warren, Ohio. The U.S. Geological Survey identifies Graphite Creek as the largest natural graphite deposit in the United States.

Permitting progress in focus

A major milestone highlighted by the company is the FAST-41 designation it received in June 2025, marking it as the first Alaska mining project listed on the Federal Permitting Dashboard. The U.S. Army Corps of Engineers is overseeing the environmental review and permitting process.

Market activity and share performance

On February 12, 2026, the stock closed at CAD 1.61 on the TSX Venture Exchange, down 2.42% for the session. Average daily trading volume was around 264,000 shares. The 52-week trading range for Graphite One stock sits between CAD 0.65 and CAD 2.57.

With the current price, the stock trades roughly 8% below the CAD 1.75 unit issuance price. The warrants grant holders the right to purchase additional shares at CAD 2.25 within a three-year period, representing about a 40% premium to the prevailing price level.