Gratomic (TSX.V: GRAT) (OTCQX: CBULF) (FSE: CB82) today announced its entry into a definitive agreement with 3 S Ltda and Beko Investments Ltd (collectively the “vendors”) for 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”). According to the update, the property is adjacent to Gratomic’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, make a one-time cash payment of US$100,000, and issue 1,768,011 common shares in the capital of GRAT, each priced at $1.40, subject to a standard four month and one day hold period from closing. Under the terms of an escrow agreement, one third of the subject shares will be released from escrow four months and one day following closing, a further one third will be released from escrow eight months from closing, and the remaining one third of the subject shares will be released from escrow 12 months from closing. The acquisition (including issuance of the subject shares) is subject to the fulfillment of certain customary conditions, including the approval of the TSX Venture Exchange.
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About Gratomic Inc.
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. For more information about the company, visit www.Gratomic.ca.
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