TSX-V: GRAT
TORONTO, Nov. 25, 2019 /CNW/ - Gratomic Inc.
("GRAT" or the "Company") (TSX-V: GRAT) (FRANKFURT:CB81,
WKN:A143MR) is pleased to announce that at the Special Meeting
of Shareholders held today, the consolidation of the Company's
outstanding capital on the basis of one (1) post-consolidated
common share for each five (5) currently issued and outstanding
common shares (the "Consolidation") was approved by the
required majority of Shareholders with 71.73% of the shares
represented at the meeting voting in favour of the Consolidation.
The Company will be proceeding with the post-consolidation private
placement announced on November 5,
2019. The Company will provide disclosure relating to the
timing of the Consolidation immediately prior to the first closing
of the private placement, which is anticipated within the next two
(2) weeks.
The Company also wishes to announce that it has settled an
aggregate of $81,360 of debt owed to
an arm's length creditor in consideration for the issuance of
904,963 common shares of the Company at a deemed price of
$0.0899 per share. The securities
issued for the settlement of debt will be legended and restricted
from trading until March 26,
2020.
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 have a JV collaborating with Perpetuus Carbon
Technology, 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
