Gratomic Closes Further Tranche of Non-Brokered Private Placement for total of $4.15 Million raised to date

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TORONTO, ON / ACCESSWIRE / May 23, 2023 / Gratomic Inc. ("Gratomic", "GRAT" or the "Company") (TSXV:GRAT) (OTCQX:CBULF) (Frankfurt:CB82) announces that it has completed a further tranche of its non-brokered private placement offering of up to 20,000,000 working capital units ("WC Units") at a price of $0.30 per WC Unit for gross proceeds of up to $6 million (the "Offering") with the placement of 2,237,363 WC Units for gross proceeds of $671,208.90. The Company has raised $4,148,189.40 to date.

Each WC Unit consists of one (1) Common Share and one (1) Common Share purchase warrant (a "WC Warrant"). Each WC Warrant entitles the holder to purchase one (1) Common Share (a "WC Warrant Share") at a price of $0.45 per WC Warrant Share until May 19, 2025.

A finder's fee of $1750 was paid to an eligible intermediary and 5,833 broker warrants ("Broker Warrants") were issued. Each Broker Warrant entitles the holder to purchase one (1) common share of the Company at a price of $0.45 until May 19, 2025.

The securities issued on this closing of the Offering are subject to a hold period expiring on September 20, 2023. Final closing of the remainder of the Offering is expected on or before May 26, 2023.

Proceeds from the Offering will be used for general working capital and for operating capital for the Company's Aukam Project.

One insider subscribed for 879,030 WC Units for proceeds of $263,709 on this closing of the Offering. The insider private placement is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company issued to the insider does not exceed 25% of its market capitalization.

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. Its aim is to become a leading graphite supplier and to secure a strong position in the electric vehicle (EV) battery supply chain through developing its flagship Aukam graphite mine and ongoing exploration at the Capim Grosso property. Gratomic will continue to explore graphite opportunities that show the potential to produce the specific flake size and purity required for active anodes.

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

On the January 25, 2023 Gratomic announced that it had entered into a LOI with Graphex Technologies to supply graphite through existing facilities and develop a downstream processing facility in the continental US.

Gratomic has entered into a collaborative agreement with Forge Nano to use its patented atomic layer deposition (ALD) technology to coat the spherical graphite required in lithium-ion batteries.

For more information: Visit www.gratomic.ca or contact:

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

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

For marketing and media information, please email: info@gratomic.ca

"Neither the 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.

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