Gratomic (TSX.V: GRAT) (OTCQX: CBULF) (FSE: CB82), a multinational company with projects in Namibia, Brazil and Canada, today provided an update on matters pertaining to its strategic path. The update covered some key improvements, changes and progress made over the last three months, including steps taken to significantly reduce expenses in Namibia, Canada and Brazil by a total of $115,000 per month; the sale of certain non-core assets; the company’s focus on reducing its current debt level; creation of a simpler, smaller, less costly and thus, more effective new Board structure; appointments; and a Royalty deal with Tri Stream Capital. The update noted that Gratomic will continue its geological development to complete a Technical Report for Aukum in accordance with the provisions of Ni 43-101. In addition, the company is working towards completing a Feasibility Study (“FS”) on the Aukum Property. “Gratomic continues to work towards advancing its strategic path. Though progress is never as fast as one wishes, Gratomic continues to make significant steps forward and key decisions have taken place. We remain fully confident that we will complete the journey along the strategic path we set out for the company,” said Bruno Baillavoine, Executive Chair of the company.
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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 its 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. For more information about the company, visit www.Gratomic.ca.
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