TORONTO, ON / ACCESSWIRE / April 12, 2022 / Gratomic Inc. ("Gratomic", "GRAT," or the "Company") (TSXV:GRAT)(OTCQX:CBULF)(FSE:CB82) is pleased to announce that the Company has entered into a Definitive Agreement with 3 S Ltda and Beko Investments Ltd (collectively the "Vendors") for the acquisition (the "Acquisition") of 100% of the rights and interests in and to the properties known as the "Jacobina Prospect" and the "Igrapiuna Prospect" comprising mineral claims 870162/2019, 870163/2019 and 870599/2019 (2,782.01 Ha) located in the State of Bahia, BA, Brazil (the "Property"). The Property is adjacent to the Company's Capim Grosso graphite project located within the Bahia State of Brazil.
In consideration for a 100% interest in the Property, Gratomic will, upon closing of the Acquisition (the "Closing"): (i) make a one-time cash payment of US$100,000; and (ii) issue 1,768,011 common shares in the capital of GRAT priced at $1.40 per share (the "Subject Shares"), subject to a standard four month and one day hold period from Closing. The Subject Shares will also be subject to the terms of an Escrow Agreement pursuant to which, one third of the Subject Shares will be released from escrow 4 months and one day following Closing; a further one third of the Subject Shares will be released from escrow 8 months from Closing; and the remaining one third of the Subject Shares will be released from escrow 12 months from Closing.
The Acquisition (including the issuance of the Subject Shares) is subject to the fulfillment of certain conditions precedent as are customary for transactions of this nature including the approval of the TSX Venture Exchange.
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 electric vehicle (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.
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 Atomic Layer Deposition (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.
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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 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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