TORONTO, ON / ACCESSWIRE / December 8, 2021 / Gratomic Inc. ("Gratomic", "GRAT" or the "Company") (TSXV:GRAT)(OTCQX:CBULF)(FSE:CB82) is pleased to announce that, further to its Press Release dated November 1, 2021, the Company has acquired 100% of the rights and interests in and to the "Capim Grosso Property" comprising mineral claim 870.180/2012 (426.03 Ha) located in Capim Grosso, BA, Brazil pursuant to the Agreement with Zumbi Mineração Brazil ("Zumbi") and the shareholders of Zumbi (collectively the "Vendors").
"We are pleased to have successfully finalized the deal on the Zumbi project in Brazil. The goal has always been for Gratomic to evolve into a multi-national organization. At its core, the Company will stay true to its roots as an exploration and mining company," stated Arno Brand CEO & President.
In consideration for a 100% interest in the Capim Grosso Property, Gratomic paid CAD $ 200,000 to the Vendors and issued to the Vendors an aggregate of 3,840,580 common shares, at a deemed price of $1.38 per share, subject to a resale restriction expiring on April 9, 2022. In addition, 2,845,671 of the common shares issued are subject to a twelve (12) month resale restriction expiring on December 8, 2022. The Vendors retained a 3% gross smelter return royalty in respect of all minerals processed from the Capim Grosso Property, other than graphite, on the terms and conditions set forth in a gross smelter royalty agreement dated December 8, 2021.
Acquiring the Brazilian graphite project provides Gratomic the opportunity to diversify the Company's interests and develop the graphite deposit at the Capim Grosso project. This strategically positions the Company to better meet growing demand for high quality graphite and provides a significant competitive advantage by limiting risk through business development in several key mining friendly jurisdictions.
Armando Farhate, COO & Head of Graphite Marketing and Sales, says: "It was with immense pleasure that I had the opportunity to help bring Gratomic to my home country, a mining friendly jurisdiction and already among the largest graphite producers in the world. This will help to propel both Gratomic and Brazil towards the top of the list in the global graphite community"
About Gratomic Inc.
Gratomic is focused on introducing an exceptional anode material to the global electric vehicle and energy storage supply chains. True to its roots as an exploration and mining company, Gratomic aims to achieve full operational capabilities in 2022 on its Aukam Graphite Project and continues to diversify its assets into a multi-national company with various projects globally. Large quantities of its naturally high-quality vein graphite have been shipped for testing to confirm its viability as an anode material. Gratomic is confident that the results will provide a unique competitive advantage in its desired target markets.
The Company's recent collaboration agreement with Forge Nano has advanced the developments on its graphite finalization phase for the micronization, spheronization, and the patented ALD coating of its Aukam vein graphite for use in lithium-ion batteries. Forge Nano is a global leader in surface engineering and precision nano-coating technology, using Atomic Layer Deposition.
GRAT has two outstanding off-take purchase agreements with TODAQ and Phu Sumika with contract fulfillment slated to begin in 2022. Gratomic plans to deliver mine-to-market traceability through its partnership with deeptech company TODAQ by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at [email protected] or 416 561-4095
Subscribe at gratomic.ca/contact/ to be added to our email list.
"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."
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.