Star Metro - Gratomic Provides First Default Status Report

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Gratomic Provides First Default Status Report

THINGS TO KNOW 25.04.2025

Gratomic Provides First Default Status Report

TORONTO, ON / ACCESS Newswire / April 25, 2025 / Gratomic Inc. ("Gratomic", "GRAT", or the "Company") (TSXV:GRAT) is providing this bi-weekly Default Status Report in accordance with National Policy 12-203 - Management Cease Trade Orders (the "Policy"). On April 11, 2025, the Company announced that there would be a delay in filing 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.

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In accordance with the Policy, on April 10, 2025 the Company applied to the applicable securities commissions and regulators for a Management Cease Trade Order related to the Company's common shares to be imposed against certain of the Company's executive officers and directors instead of a general Cease Trade Order being imposed against all securities of the Company. Due to an administrative error, the Company was required to re-file the application on April 24, 2025 and no Management Cease Trade Order has been issued yet.

The Company is working to retain new financial management to work with its auditors to complete the audit of the Company's financial statements for the year ended December 31, 2024 as soon as possible and still anticipates filing such financial statements and related MD&A by June 30, 2025 on SEDAR+. Until the Financial Disclosure is filed, the Company intends to satisfy the provisions of the Alternative Information Guidelines as set out in the Policy for as long as it remains in default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a press release.

The Company reports that since its original announcement on April 11, 2025 there have not been any material changes to the information provided therein other than as described herein nor any failure by the Company in fulfilling its stated intentions with respect to satisfying the Alternative Information Guidelines.

In addition to the information disclosed herein, there has not been any other specified default by the Company under the Policy, nor are any anticipated and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

Should the Company fail to SEDAR+ file the Financial Disclosure on or before June 30, 2025, the Ontario Securities Commission ("OSC") may impose a cease trade order that all trading in securities of the Company cease for such period specified in the OSC order.

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.

View the original press release on ACCESS Newswire

O.Poirier--SMC

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