Gratomic Applies for Extension of the Expiry of its $1.45 Warrants

Rhea-AI Summary

Gratomic Inc. (OTCQX:CBULF) has announced its intention to apply for an extension of the exercise date for 987,882 warrants at $1.45 per share. This extension will move the expiry date from the current dates between July 26, 2022, and September 2, 2022, to between July 26, 2023, and September 2, 2023. The change is pending approval from the TSX Venture Exchange. Gratomic is focused on becoming a prominent global graphite supplier and has ongoing projects in Namibia, Brazil, and Canada, with strong ambitions to support the EV battery supply chain.

Positive

• Application for warrant exercise date extension could provide more time for potential investors.
• Gratomic has a partnership with Forge Nano for graphite production enhancement, which could improve market position.

Negative

• Pending approval from the TSX Venture Exchange introduces uncertainty regarding the warrant extension.
• No recent financial metrics were provided to indicate current performance or future outlook.

TORONTO, ON / ACCESSWIRE / July 12, 2022 / Gratomic Inc. (TSXV:GRAT)(OTCQX:CBULF)(FSE:CB28) ("Gratomic" or the "Company") announces that it will make an application to the TSX Venture Exchange (the "TSXV") to extend the exercise date of 987,882 warrants (the "Warrants") currently exercisable at $1.45 per share until between July 26, 2022 and September 2, 2022 pursuant to the private placement financing which closed between January 26, 2022 and March 2, 2022, for a further year expiring between July 26, 2023 and September 2, 2023. There has been no change to the warrant exercise price. The amendment to the expiry date of the Warrants is subject to TSXV acceptance.

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 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 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/708369/Gratomic-Applies-for-Extension-of-the-Expiry-of-its-145-Warrants

FAQ

What is the significance of Gratomic's warrant extension application?

The application allows Gratomic to extend the exercise period for its warrants, giving investors more time to engage with the company's shares.

When will the warrant exercise extension for CBULF take effect?

If approved, the exercise date will extend from between July 26, 2022, and September 2, 2022, to between July 26, 2023, and September 2, 2023.

What are Gratomic's future plans related to graphite production?

Gratomic aims to enhance its graphite production capabilities and has formed a collaboration with Forge Nano to support production phases for lithium-ion batteries.

What is Gratomic's standing in the mining sector?

Gratomic was ranked third in the top 10 performing mining stocks on the 2022 TSX Venture 50™.