Graphite One Resources Inc. March 3 reported closing a second tranche of a non-brokered private placement offering which, together with the first tranche closed in January, totaled C$704,091 in gross proceeds.

Pursuant to the closing of the second tranche, Graphite One issued 3,000,008 units at C9 cents per unit for a total of C$270,001.

Each unit consists of one common share and one transfer...