Gratomic Announces Final Closing of Non-Brokered Private Placement

Rhea-AI Summary

Gratomic has successfully closed a tranche of its non-brokered private placement, raising $3,221,000 by issuing 2,300,714 working capital units at a price of $1.40 each. This adds to the total proceeds of $5,532,157 from the offering. Each unit includes a common share and a 0.25 warrant, with the full warrant priced at $1.45. The firm remains committed to advancing its Aukam Graphite Project amid challenging economic conditions. Gratomic aims for product delivery by 2022 and has secured additional offtake agreements.

Positive

• Raised a total of $5,532,157 from the private placement.
• Secured two additional offtake agreements, enhancing cash flow.
• Management shows confidence in navigating macroeconomic challenges.
• Positioning itself as a key player in the EV battery supply chain.

Negative

• None.

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TORONTO, ON / ACCESSWIRE / March 9, 2022 / Gratomic Inc. ("Gratomic", "GRAT" or the "Company") (TSXV:GRAT)(OTCQX:CBULF) (Frankfurt:CB82) announces that, further to its Press Release of February 7, 2022, the Company has closed a further tranche of its previously announced non-brokered private placement offering (the "Offering") with the placement of 2,300,714 working capital units ("WC Units") priced at $1.40 per WC Unit for gross proceeds of $3,221,000. The Company raised an aggregate of $5,532,157 through the placement of an aggregate of 3,951,541 WC Units pursuant to the Offering.

Each WC Unit consists of one (1) common share and one quarter (0.25) of a common share purchase warrant. Each full warrant (a "WC Warrant") entitles the holder to purchase one (1) common share (a "WC Warrant Share") at a price of $1.45 per WC Warrant Share until the date which is six (6) months following the closing of the first tranche of the Offering. The securities issued are subject to hold periods expiring on or after June 9, 2022. The Company is not proceeding with the balance of the Offering at this time and has closed the Offering.

Gratomic management considers this a positive outcome in light of the Macro Economic situation. Even when faced with external stressors including current global political and economic conditions, the Company has been successful in closing on $5.5 million of its non-brokered private placement at $1.40. This is a testament to shareholder faith in the Company and its vision. Next steps include a review of the operational readiness plan for the Company's Aukam Graphite Project and its 2022 goal of product in bag.

The Company announced the private placement in December 2021. Since that announcement was made, it has secured two additional offtake agreements through its partnership with TM2, providing the Company 90-day advance payments upon the commencement date of product in bag at its Aukam Graphite Plant in Namibia. Please see press releases dated February 8^th and February 15^th.

"In a world that is upside-down, Gratomic is still right-side-up," stated Arno Brand President & CEO, "The Company will continue to work hard providing value for our shareholders and will remain focused on the continued development of Aukam and Capim Grosso."

One eligible Finder was paid a cash finder's fee totalling $30,856 and First Republic Capital Corporation ("First Republic") earned a corporate finance fee of $64,420 in respect of the second/final tranche of the Offering.

The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Gratomic

Gratomic is a multinational company with projects in Namibia, Brazil, and Canada. The Company is focused on becoming a leading global graphite supplier and aims to secure a strong position in the EV (Electric Vehicle) battery supply chain. With the continued development of its flagship Aukam project and further exploration on the Company's Capim Grosso property, Gratomic sets itself apart by seeking out unique top-quality assets around the world. True to its roots, the Company will continue to explore graphite opportunities displaying potential for development. The Company ranked third place in the top 10 preforming mining stocks on the 2022 TSX Venture 50™.

Large quantities of high-quality vein graphite have been shipped for testing to confirm its viability as an anode material. Gratomic is confident that the test results will provide a unique competitive advantage in its desired target markets. The Company will continue to update the public on the status of these tests and will provide results as soon as they become available.

The Company has formed a collaboration agreement with Forge Nano. With its patented ALD (Atomic Layer Deposition) coating, this cooperation with Forge Nano is a key element to support Gratomic's strategies towards the value-added phases of production of graphite for anode applications, namely micronization, spheronization and coating, making Gratomic graphite a preferred choice for use in lithium-ion batteries.

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

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

Subscribe at gratomic.ca/contact/ to be added to our email list.

For Marketing and Media information, please email: info@gratomic.ca

"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 news 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/692393/Gratomic-Announces-Final-Closing-of-Non-Brokered-Private-Placement

FAQ

What is the latest funding amount raised by Gratomic (CBULF)?

Gratomic raised a total of $5,532,157 in their recent non-brokered private placement.

How does Gratomic's private placement affect its stock price?

The successful closure of the private placement may positively influence investor confidence in Gratomic's stock (CBULF) due to increased capital.

What are the key agreements secured by Gratomic (CBULF)?

Gratomic has secured two additional offtake agreements which bolster its cash flow and operational readiness.

What is the main goal for Gratomic regarding its Aukam project in 2022?

Gratomic's goal for the Aukam project in 2022 is to achieve product in bag.

What are the pricing details for the warrants associated with Gratomic's offering?

Each full warrant is priced at $1.45 and entitles the holder to purchase one common share.