On November 20, 2022, Graphite One Inc. (TSX.V: GPH) announced that a total of 9,322,987 units were issued in two separate closings, resulting in gross proceeds of $10,721,434. Taiga Mining Company, Inc., an insider of Graphite One, participated in the Offering and acquired 2,258,957 Units. According to TSXV Policy 5.9 and Multilateral Instrument 61-101, the issuance of Units to Taiga constitutes a related party transaction. The Company was able to exempt itself from the valuation and minority shareholder approval requirements of MI 61-101 by taking advantage of Sections 5.5(b) and 5.7(1)(b) of MI 61-101. Before the Offering, Taiga owned 27,891,234 of the Company’s Common Shares, making up 26.6% of the overall issued and outstanding shares. After the Offering, they now possess 30,150,191 Common Shares, which equate to 28.0% of the total issued and outstanding shares, thereby increasing their ownership by 1.4%. In addition, Taiga and related parties own 8,768,189 common share purchase warrants. If these are exercised, their beneficial ownership and control of the Company’s Common Shares will be partially diluted to 38,918,380.