Graphite One Inc (GPHOF)

[MsCoffeenut333]

Graphite One Announces Stock Option Grant


VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 11, 2016) - Graphite One Resources Inc. (TSX VENTURE:GPH)(OTCQX:GPHOF) ("Graphite One" or the "Company") announces that the board of directors of the Company has approved an incentive stock option grant to directors, officers and consultants of the Company for the purchase of 9,050,000 shares of Graphite One in accordance with the Company's shareholder approved stock option plan. The options are exercisable at a price of $0.10 per share, all vesting immediately and expiring on March 11, 2021.

Upon the granting of the options described above, Graphite One will have 19,675,000 options outstanding, which represents approximately 9.5% of the 207,678,835 common shares of the Company currently outstanding. Graphite One's stock option plan limits the issuance of options to no more than 10% of the outstanding common shares.