Gratomic (TSX.V: GRAT) (OTCQX: CBULF) (FSE: CB82), a multinational company with projects in Namibia, Brazil and Canada, has signed a nonbinding Letter of Intent (“LOI”) with Tristream Capital Pte Limited and/or Tristream Capital (Cayman) Limited (“TSC”). Dated June 14, 2024, the LOI outlines plans for TSC to invest an estimated C$5.2 million in Gratomic in order to acquire a 5% gross sales royalty (“GSR”) in respect of sales of graphite from Gratomic’s Aukam property. Payment of the GSR is slated to begin six months after the investment funds are received and will continue for five and one-half years; at that point, the GSR will be reduced to 1% for the life of the mine. According to the announcement, payment of the investment funds is based on the satisfactory completion of due diligence by TSC and the signing of a definitive agreement within 90 days. If signed, the definitive agreement will outline more specific terms and conditions, representations, warranties, covenants and agreements as well as required milestones for the agreement.
To view the full press release, visit https://ibn.fm/IjeUM
About Gratomic Inc.
Gratomic is a multinational company with projects in Namibia, Brazil and Canada. The company aims to become a leading graphite supplier and to secure a strong position in the electric vehicle battery supply chain through the development of its flagship Aukam graphite mine and ongoing exploration at the Capim Grosso property. The company will continue to explore graphite opportunities that show the potential to produce the specific flake size and purity required for active anodes. Large quantities of high-quality vein graphite have been shipped for testing to confirm suitability as anode material. Gratomic is confident that the test results will provide a unique competitive advantage in the desired target markets. The company will continue to update the public on the status of these tests and will share results as they become available. In addition, in January 2023, Gratomic announced that it had entered into a LOI with Graphex Technologies to supply graphite through existing facilities and develop a downstream processing facility in the continental United States. Gratomic has also entered into a collaborative agreement with Forge Nano to use its patented atomic layer technology (“ALD”) to coat of spherical graphite required in lithium-ion batteries. For more information about the company, visit www.Gratomic.ca.
About MiningNewsWire
MiningNewsWire (“MNW”) is a specialized communications platform with a focus on developments and opportunities in the Global Mining and Resources sectors. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled recognition and brand awareness.
MNW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from MiningNewsWire, text “BigHole” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.MiningNewsWire.com
Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published: https://www.MiningNewsWire.com/Disclaimer
MiningNewsWire
Los Angeles, CA
www.MiningNewsWire.com
310.299.1717 Office
Editor@MiningNewsWire.com
MiningNewsWire is powered by IBN
