Early Arrival of Equipment from China Slated for Aukam Processing Plant Completion

Rhea-AI Summary

Gratomic Inc. (OTC PINK:CBULF) announced the early arrival of custom equipment from China at the Walvis Bay Port in Namibia, crucial for the Aukam Graphite Mine processing plant. The components, including thickener tanks and rotary dryers, will be inspected and shipped to the site after clearing customs. This early delivery aligns with Gratomic's existing construction timelines. The company holds two off-take agreements for graphite products sourced from Aukam, enhancing its commercialization strategy in the graphite market.

Positive

• Early arrival of custom equipment supports timely completion of the Aukam processing plant.
• The company maintains its construction schedule, aligning with operational timelines.
• Holds two off-take agreements, indicating strong demand for its graphite products.

Negative

• None.

TORONTO, ON / ACCESSWIRE / August 26, 2020 / Gratomic Inc. ("GRAT" or the "Company") (TSXV:GRAT)(OTC PINK:CBULF)(FRANKFURT:CB81) (WKN:A143MR) wishes to announce that its anticipated custom equipment order from China has been safely received ahead of schedule and is currently on site at the Walvis Bay Port in Namibia. This equipment is required for the completion of its Aukam Graphite Mine processing plant construction.

The various components including thickener tanks, cyclone, filter press and chipper, rotary dryer and various additional pieces required for facility completion will be inspected, loaded, and shipped to the Aukam property via trucking service upon clearing customs.

The early arrival has no impact on the Company's prior construction schedule as preparations are currently meeting Gratomic's previously scheduled timelines.

About Gratomic Inc.

Gratomic is a materials company focused on mine to market commercialization of graphite products and components for a range of mass market products. The Company currently holds two off-take purchase agreements for graphite product sourced from the Aukam facility. One agreement is with TODAQ and the other is with Phu Sumika. The Company is listed on the TSX Venture Exchange under the symbol GRAT.

For more information: visit the website at www.gratomic.ca or contact:

Arno Brand at abrand@gratomic.ca or 416 561-4095

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

FORWARD LOOKING STATEMENTS:

This press release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).

SOURCE: Gratomic Inc.

View source version on accesswire.com:
https://www.accesswire.com/603412/Early-Arrival-of-Equipment-from-China-Slated-for-Aukam-Processing-Plant-Completion

FAQ

What is the significance of the early equipment arrival for Gratomic (CBULF)?

The early equipment arrival aids in the timely completion of the Aukam Graphite Mine processing plant, crucial for operational efficiency.

What components were received by Gratomic from China?

Gratomic received various components including thickener tanks, cyclone, filter press, rotary dryer, and additional pieces necessary for its facility.

How does the early equipment delivery impact Gratomic's construction schedule?

The early delivery does not impact the existing construction schedule, as Gratomic is on track with its planned timelines.

What agreements does Gratomic have related to its graphite products?

Gratomic holds two off-take agreements for graphite products sourced from the Aukam facility, with TODAQ and Phu Sumika.