Gratomic Provides Update on Default Status Report

13:30 Uhr  |  ACCESS Newswire

TORONTO, April 28, 2025 - Gratomic Inc. ("Gratomic", "GRAT", or the "Company") (TSX-V:GRAT) wishes to advise that, further to its press release of April 25, 2025, the Ontario Securities Commission ("OSC") has advised the Company that it has not satisfied the criteria in National Policy 12-203 - Management Cease Trade Orders to be issued a Management Cease Trade Order. As a result, the OSC will be issuing a failure-to-file cease trade order ("FFCTO") after April 30, 2025 for the Company's failure to file its Annual Audited Consolidated Financial Statements ("Annual Financial Statements") and Management Discussion & Analysis ("MD&A") for the Company's financial year ended December 31, 2024 (collectively, the "Financial Disclosure"), the deadline for filing of which is April 30, 2025. If the default in filing the Financial Disclosure is remedy within 90 days of the date of the FFCTO, including any annual or interim statements, MD&A and certificates that subsequently become due, the filing of all documents constitutes the application to revoke the FFCTO and no application fee will be required to revoke the FFCTO.

The Company will endeavour to complete the audit of the Company's financial statements for the year ended December 31, 2024 as soon as possible.

About Gratomic

Gratomic is a multinational company with projects in Namibia, Brazil, and Canada. The Company aims to become a graphite supplier and to secure a strong position in the electric vehicle battery supply chain through the development of its flagship Aukam Graphite Mine.

Large quantities of high-quality vein graphite have been shipped for testing and have confirmed its suitability as an anode material. The Company will continue to update the public on the status of these tests and will share results as they become available.

For more information

Contact: Arno Brand at (416) 561- 4095

"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 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.sedarplus.com).

SOURCE: Gratomic Inc.