Black Swan Graphene Nominates Brad Humphrey for Election as Independent Director at Upcoming Annual General Meeting

Rhea-AI Summary

Black Swan Graphene Inc. announces plans to expand its board by nominating Brad Humphrey for election as an independent director during the Annual General Meeting on November 25, 2022. Humphrey brings over 25 years of mining experience, having held senior roles in various companies, including CEO of NiCAN Limited and QMX Gold. Additionally, the company has granted 700,000 stock options to management and consultants, and has engaged Pinnacle Capital Markets Ltd. for a $45,000 digital awareness initiative.

Positive

• Nomination of Brad Humphrey adds experienced leadership to the board.
• Engagement of Pinnacle Capital Markets aims to enhance digital awareness and investor communication.

Negative

• The increase in board size and nomination were not included in the initial management materials, which may confuse investors.

TORONTO, Nov. 9, 2022 /PRNewswire/ - Black Swan Graphene Inc. ("Black Swan" or the "Company") (TSXV: SWAN) (OTCQB: BSWGF) is pleased to announce that it has decided to increase the size of the board of directors of the Company (the "Board") and to support the election of Mr. Brad Humphrey as an additional independent director of the Company, who will be nominated at the Annual General Meeting of Shareholders to be held virtually on November 25, 2022 (the "Meeting").

Simon Marcotte, President and Chief Executive Officer of Black Swan commented: "On behalf of the Board of Directors, I would like thank Brad for his interest in the Company and we are looking forward to welcoming him to the team upon his election at the upcoming Annual General Meeting of Shareholders."

Brad Humphrey

Mr. Humphrey has over 25 years of international mining experience and is currently the Chief Executive Officer of NiCAN Limited (TSX-V: NICN), a Canadian explorer advancing nickel projects in the province of Manitoba. Prior to joining NiCAN, Mr. Humphrey was CEO of QMX Gold, a Canadian resource company which had a strong shareholder base, including Eldorado Gold Corp., Osisko Gold Royalties Ltd., O3 Mining Inc., and Probe Metals Inc. QMX was ultimately acquired by Eldorado Gold in a $132 million transaction. Prior to QMX Gold, Mr. Humphrey worked for Morgan Stanley as an Executive Director and North American Precious Metals Analyst, where he was responsible for growing Morgan Stanley's North American Gold research coverage. Mr. Humphrey was also a Managing Director and Head of Mining Research at Raymond James and covered precious metal equities at CIBC World Markets and Merrill Lynch. Mr. Humphrey has held a variety of mining industry roles from contract underground miner to CEO. Mr. Humphrey was also on the board of Royal Fox Gold Inc., until its recent acquisition by Northern Superior Resources Inc.

Mr. Simon Marcotte, the President and Chief Executive Officer of the Company or, failing him, Mr. Greg Duras, the Chief Financial Officer and Corporate Secretary of the Company, being the persons designated in the form of proxy and voting instruction form sent in connection with the Meeting, will use their discretionary authority to cast the votes represented by proxy appointing them at the Meeting for the increase in the size of the Board and for the election of Mr. Humphrey to the Board.

The increase in the size of the Board and the election of Mr. Humphrey were not included in the management information circular dated September 28, 2022 (the "Circular") nor the form of proxy or in the voting instruction form sent by the Company in connection with the Meeting given that he was identified as a nominee subsequent to the sending of these materials. Shareholders wishing to vote with respect to the increase in the size of the Board and the election of Mr. Humphrey should carefully review the procedures described in the Circular available on SEDAR at www.sedar.com so that they are able to virtually attend and vote at the Meeting.

Corporate Matters

The Company has granted, pursuant to its stock option plan, an aggregate of 700,000 stock options to members of management and consultants who had not received any options or other equity incentives thus far. Each option will entitle its holder to purchase one common share of Black Swan Graphene at a price of $0.15 until November 7, 2027. One third of the options will vest upon their grant, one third will vest on the first anniversary of their grant and the remainder will vest on the second anniversary of their grant. The option grant is subject to regulatory approval, including the approval of the TSX Venture Exchange.

The Company has engaged Pinnacle Capital Markets Ltd. ("Pinnacle"), the parent company of theinvestorscoliseum.com, to assist in enhancing its digital awareness presence with the global investment community for an initial period of twelve months (the "Initial Term"), subject to the terms of the service agreement executed between the Company and Pinnacle. The Investors Coliseum is a dynamic new way for investors to acquire accurate and timely information on our featured public and private companies and their related industries and sectors. By bringing exciting new equity opportunities and companies into the Coliseum, Pinnacle aims to provide a top level of communication with the investing public. Pinnacle, which operates under the direction of Mr. Spyros P. Karellas, will receive a total compensation of $45,000 for the Initial Term services.

About Black Swan Graphene Inc.

Black Swan Graphene Inc. is focused on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries, and others, which are expected to require large volumes of graphene. Black Swan aims to leverage the low cost and green hydroelectricity of the province of Québec as well as the proximity of the eventual graphite production sites of the province in order to establish a fully integrated supply chain, reduce overall costs, and accelerate the deployment of graphene usage. Black Swan's graphene processing technology was developed by Thomas Swan & Co. Ltd ("Thomas Swan") over the last decade. Thomas Swan is a United Kingdom-based global chemicals manufacturer, with a century-long track record and has been at the forefront of graphene innovation.

For more information, please visit: www.blackswangraphene.com

Black Swan Graphene Inc. on behalf of the Board of Directors

Simon Marcotte, CFA, President & Chief Executive Office

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

Certain statements in this press release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future, including but not limited to, the Company's business objectives and operations. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The novel strain of coronavirus, COVID-19, and the ongoing military conflict between the sovereign state of Ukraine and Russia also pose new risks that are currently indescribable and immeasurable. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE Black Swan Graphene Inc

FAQ

What is the significance of the board expansion at Black Swan Graphene (BSWGF)?

The board expansion aims to enhance leadership with Brad Humphrey's nomination, who has extensive mining industry experience.

When will the Annual General Meeting for Black Swan Graphene (BSWGF) be held?

The Annual General Meeting is scheduled for November 25, 2022.

What are the details about the stock options granted by Black Swan Graphene (BSWGF)?

Black Swan has granted 700,000 stock options at $0.15 each, set to vest over two years, pending regulatory approval.

How much is Black Swan Graphene (BSWGF) paying Pinnacle Capital Markets for its services?

Black Swan is compensating Pinnacle Capital Markets $45,000 for enhancing digital awareness over a twelve-month period.