The Conversation (0)
Gratomic Inc. (TSXV: GRAT) (OTCQX: CBULF) (FSE: CB82) ("Gratomic", "GRAT" or "The Company") is pleased to announce that the Company has entered into a share purchase agreement for facilities in Windhoek Namibia and real estate at the Port of Lüderitz Bay in Namibia. The Windhoek facilities will be used as an office, and for lodging for executives when travelling to Namibia. The Lüderitz property is to be developed into a second graphite processing and warehousing facility.
Gratomic's graphite finishing process will be separated into two separate facilities with one housing the micronization and spheronization equipment and the second housing the patented ALD (Atomic Layer Deposition) equipment supplied by Forge Nano (review details here in press release dated March 31, 2021). This strategic asset development will provide the Company the opportunity to customize product output adhering to end-user specifications and requirements, allowing Gratomic to better serve a broader range of manufacturers and OEMs. This investment also supports a significant increase in output potential of product generation to support any additional growth in demand as predicted by Benchmark Mineral Intelligence, among others, see link here.
The benefits of the agreement are further supported by the Company's acquisition of permanent office spaces in Windhoek, which will better accommodate the growth and development of the Namibian team and Aukam Graphite Project. The ownership of permanent facilities will reduce overall operational costs through the elimination of office rental and other expenses.
The facilities and the real estate are being purchased for the equivalent of $1,436,500 and will be satisfied by the issuance of 1,072,015 common shares (the "Considerations Shares") of the Company (Issued at a per share price of $1.34). Closing of the share purchase agreement and issuance of the Consideration Shares is subject to the fulfillment of standard closing conditions and the approval of the TSX Venture Exchange.
Arno Brand, CEO and President, stated, "The Company recognizes the requirement for additional industrial space for the purpose of future added value processing and to accommodate the predicted upswing in market demand."
About Gratomic Inc.
Gratomic is focused on introducing an exceptional anode material to the global electric vehicle and energy storage supply chains. The Company aims to achieve full operational capabilities in 2021, with further plans to take its Aukam Graphite Project fully solar by 2022. Large quantities of its naturally high-quality 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 2021. 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 abrand@gratomic.ca 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."
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 )
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89331