TSX-V: GRAT
TORONTO, May 14, 2019 /CNW/ - Gratomic Inc.
("Gratomic" or the "Company") (TSX-V:
GRAT) (CB81–FRANKFURT) a vertically integrated
graphite to graphenes, advanced materials development company
announces the entering into of a definitive off take agreement for
graphite concentrate to be produced from its Aukam Graphite mine
("Aukam") in Namibia
("Offtake Agreement").
As part of the Graphite Concentrate sales Agreement (Sales
Agreement), Gratomic has appointed Phu Sumika ("PSK") as its
exclusive marketing agent, in continental Europe, for the sale of graphite concentrate
to the refractory, lubricant and battery Markets.
Pursuant to the Sales Agreement, PSK will purchase up to 7,500
Dry Metric Tonnes annually, for a period of five years from the
date commercial production commences at Aukam. The contract
contemplates the sales of graphitic product ranging from 80%
Carbon to 99.9% Carbon at prices ranging between US$500-US$2800 per
Metric Tonne (depending on grade, moisture content and industry
use).
Gratomic is satisfied with the high value range of product
pricing for the selected markets.
Gratomic has delivered PSK with samples grading 92%, 97%, 99%
and 99.9% over the past 3 months for testing in a verity of end
uses. The results now positively match buyer specifications and
will qualify the sales agreement for deliveries going forward.
Aukam Production Update
Gratomic has recently consulted with a processing expert in
Toronto and has been able to
produce several batches of Battery Grade Graphite grading over
99.9% the Company is currently compiling a budget to integrate the
suggestive plant adjustment onto its processing circuit within the
next 3 months. This will allow the company to commence with the
production and sale of battery grade Graphite targeted towards the
rapidly growing battery industry mainly being dominated by the
increase of demand for electric vehicles worldwide.
In addition Gratomic expects the delivery of the final
components of its Aukam processing plant within the next 49 days,
this will complete the construction of the first phase of our
Processing facility and bring it up to a 3 metric tonne per hour
Processing Capacity.
The company continues its focus on further developing and
commercializing its Graphene Processing capacity in wales through
its partnership with Perpetuus carbon technologies and anticipates
soft launching its Gratomic fuel efficient tire in the summer.
Gratomic has recently prepared an additional 2 tonnes of Graphite
concentrate which it will be shipping to wales in the coming days
for converting into high quality Graphenes targeted for the use and
development of several high value Graphene applications.
Gratomic's CO-CEO Arno Brand
stated, "The entering into of the sales agreement and exclusive
marketing agreement with Phu Sumika is the culmination of several
years of work, Gratomic is now well positioned and ready to
monetize its operations through graphite sales. We thank our loyal
shareholders for their support throughout the years and their
contributions in helping us in commercialize the Aukam
Mine"
About Phu Sumika
Phu Sumika was established in 2003 to provide raw chemical
materials for leading companies in the abrasive, refractory
and battery industries across Europe. They offer a wide
scale of commodities from around the World. A professional
organization with significant experience and a vast sales
network allows them to provide the highest quality with
competitive pricing.
About Gratomic Inc.
Gratomic is an advanced materials company focused on mine to
market commercialization of graphite products most notably high
value graphene based components for a range of mass market
products. We are collaborating with a leading European manufacturer
of graphenes to use Aukam graphite to manufacture graphene products
for commercialization on an industrial scale. The company is listed
on the TSX Venture Exchange under the symbol GRAT.
"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).
SOURCE Gratomic