Graphite Energy Announces OTC Pink Quotation, Frankfurt Stock Exchange Listing, and Closing of Private Placement

VANCOUVER, British Columbia , Nov. 02, 2017 (GLOBE NEWSWIRE) -- Graphite Energy Corp. GRE GRXXF GOA (the "Company") announces its common shares have been approved by the Financial Industry Regulatory Authority (FINRA) for quoting on the OTC Pink Market in the United States under the symbol "GRXXF".  The Company's common shares are also now listed and trading on the Frankfurt Stock Exchange under the security symbol "GOA" (WKN: A2H5SL).

With the Company's common shares listed and trading on the Canadian Securities Exchange (CSE), a qualified stock exchange in its home country, under the security symbol "GRE", expansion into the United States and European equity markets offers increased visibility through exposure to a broader range of investors and is expected to assist with increasing the liquidity and convenience of trading of the Company's common shares.

Additionally, the Company announces it has closed a non-brokered private placement financing issuing a total of 2,000,000 common shares at a price of $0.10 per common share for gross proceeds of $200,000 (the "Private Placement").  The securities distributed pursuant to the Private Placement are subject to a statutory hold period of four months from the date of issuance.   

Proceeds from the Private Placement will be used for continued operations - advertising and marketing, continued exploration of the Company's Lac Aux Bouleaux Graphite Property, and for general and administrative purposes.

About Graphite Energy Corp.
Graphite Energy Corp. is a Canadian-based issuer listed on the Canadian Securities Exchange.  It is currently engaged in the business of exploration of mineral properties in Canada and holds a right to acquire a 100% interest, subject to certain royalties, in and to the Lac Aux Bouleaux Graphite Property located near the town of Mont-Laurier in Southern Quebec.  The Lac Aux Bouleaux Graphite Property consists of 14 claims covering an area of 738.12 hectares.  The Company's objective is to explore and, if warranted, develop the Lac Aux Bouleaux Graphite Property.

ON BEHALF OF THE BOARD OF
GRAPHITE ENERGY CORP

/s/ "Sheri Rempel"

Sheri Rempel
Director and Chief Financial Officer

For further information, please telephone: (604) 428-7050

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release

Forward-looking Information
This news release may contain forward-looking information (as such term is defined under Canadian securities laws). While such forward-looking information is expressed by the Company in good faith and believed by the Company to have a reasonable basis, they address future events and conditions and are, therefore, subject to inherent risks and uncertainties.  The Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.