Gratomic Issues Shares for Payment of Services by Agora

Rhea-AI Summary

Gratomic Inc. (OTC PINK:CBULF) has announced the issuance of 75,333 common shares to Agora Internet Relations Corp. as payment for advertising services, priced at $0.15 per share, pending regulatory approval. This follows an earlier announcement made on May 15, 2020. Gratomic focuses on sustainable graphite production from its Aukam Graphite Project in Namibia, with plans for full operational capabilities by late 2020. The company holds two off-take agreements for its graphite with TODAQ and Phu Sumika, aimed at supporting electric vehicle and renewable resource supply chains.

Positive

• Issuing shares for services may conserve cash flow.
• Two off-take agreements secure sales for lump-vein graphite.
• Focus on sustainable, carbon-neutral graphite production aligns with industry trends.

Negative

• The share issuance could dilute existing shareholders.
• Regulatory approval is required, introducing uncertainty.

TORONTO, ON / ACCESSWIRE / November 2, 2020 / Gratomic Inc. ("GRAT" or the "Company") (TSXV:GRAT)(OTC PINK:CBULF)(FRANKFURT:CB81) (WKN:A143MR) wishes to announce that, further to its Press Release of May 15, 2020, it has agreed to issue 75,333 common shares of the Company to Agora Internet Relations Corp. ("AGORA") in settlement of Advertising Services provided by Agora to the Company pursuant to the shares for services program for the period ending November 1, 2020 at a price of $0.15 per share, subject to regulatory approval.

About Gratomic Inc.

Established in 2014, Gratomic is an advanced materials company focused on low-cost mine to market commercialization of carbon-neutral, Eco-friendly, high purity vein graphite and is set to become a key player in EV and Renewable Resource supply chains. Gratomic Inc. is a leader among peers, anticipating full operational capabilities in late 2020 and aiming to transition to an open pit mine as early as 2021.

The Company promises to deliver mine-to-market traceability and guaranteed quality control. This will be accomplished by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project. The tracking will begin at Aukam and will be verified at every stage during transport.

Two off-take purchase agreements are currently held for lump-vein graphite sourced from Gratomic's Aukam Graphite Project in Namibia, Africa. Fulfillment of the contracts is slated to begin in late 2020. The agreements exist with TODAQ and Phu Sumika.

TODAQ is an innovative tech company and will partner with Gratomic on its mine-to-market commodity tracking.

Phu Sumika is a large global graphite supplier to battery and lubrication companies.

Gratomic Inc. 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

Subscribe to the link below to receive news and updates

https://gratomic.ca/contact/

"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/614113/Gratomic-Issues-Shares-for-Payment-of-Services-by-Agora

FAQ

What is the significance of Gratomic's share issuance to Agora?

Gratomic's issuance of 75,333 shares as payment for services may provide liquidity while managing cash flow, though it could lead to shareholder dilution.

What are Gratomic's future operational plans?

Gratomic plans to achieve full operational capabilities at its Aukam Graphite Project by late 2020 and transition to an open-pit mine as early as 2021.

Which companies have off-take agreements with Gratomic?

Gratomic has off-take agreements with TODAQ and Phu Sumika for the supply of lump-vein graphite.

What is the stock symbol for Gratomic?

Gratomic is listed on the OTC market under the symbol CBULF.

When did Gratomic announce its share issuance?

Gratomic announced the share issuance on November 2, 2020.