TORONTO – Gratomic Inc. (TSX-V:GRAT) (OTCQX:CBULF) (Frankfurt:CB82) announced that, further to its Press Release of December 15, 2021, the previously announced non-brokered private placement offering of $27,020,000 is fully-subscribed. The offering consists of 19,300,000 working capital units priced at $1.40 per WC Unit for gross proceeds of $27,020,000. The final closing of the Offering will be extended until February 8, 2022.
Each WC Unit consists of one common share and one quarter (0.25) of a common share purchase warrant. Each full warrant entitles the holder to purchase one common share at a price of $1.45 per WC Warrant Share until the date which is six months following the Closing of the Offering. The closing of the offering will be extended until February 8, 2022. It is anticipated that a first closing will be effected on January 26, 2022 with a final closing scheduled for February 8, 2022.
Eligible Finders may receive 5% of the value of proceeds of the sale of WC Units in cash. The Company has agreed to pay First Republic Capital Corporation a corporate finance fee equal to 2% of the gross proceeds of the Offering as consideration for waiving its right of first refusal in respect of the Offering. First Republic will have the right to place up to $5,000,000 of the Offering with its clients and will receive an additional cash fee of 3% in respect of any WC Units placed by First Republic.
Proceeds from the Offering will be used for operating capital for the Company’s Aukam Project ($17 million), exploration for the Company’s Capim Grosso Property ($6 million) and general working capital ($4 million). The Offering is subject to TSX Venture Exchange approval. The securities issued will be subject to a four-month and one day hold period.
Arno Brand CEO & President commented, “It is a testament to the Company to receive this level of support from the market, clearly our goal to create value for our shareholders is well received. We will maintain our commitment to transparency and thank all of Gratomic’s stakeholders for their continued support.”
Insiders of the Company may subscribe for up to 10% of the WC Units under the Offering. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company which will be issued to the insiders does not exceed 25% of its market capitalization.
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 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 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.
