Gratomic (TSX.V: GRAT) (OTCQX: CBULF) (FRA: CB82) has entered into a letter of intent (“LOI”) with Zumbi Mineração Brazil and its shareholders outlining the 100% acquisition of the rights and interests in and to the Capim Grosso Property. The LOI notes that the acquisition comprises mineral claim 870.180/2012 (426.03 Ha) located in Capim Grosso, Brazil; the letter also outlines the conditions of the acquisition including cash payments as well as the issuance of common shares and a promissory note. In addition, the letter includes deadlines associated with the acquisition. According to the announcement, Gratomic said acquiring the Brazilian graphite project provides the company with the opportunity to diversify its interests while also developing the graphite deposit at the Capim Grosso project. The company intends to position itself to better meet growing demand for high-quality graphite as well as enjoy a competitive advantage by limiting risk as it develops businesses in several key mining friendly jurisdictions. Gratomic noted that three preliminary drillholes and 10 shallow trenches have been completed at the project, with assay results indicating total graphitic carbon (“TGC”) of between 6.79% TGC over 2.5 m to 20.95% TGC over 2.4 m in surface trenching. In addition, drilling results of 26.47% TGC over 1 m have been obtained. The company plans to start a trenching program to generate further geological information and plan future drilling once the acquisition is completed. “Obtaining the Capim Grosso Project will serve as our base in Brazil, the largest graphite producer outside of China, as we plan to expand operations,” said Gratomic president and CEO Arno Brand in the press release. “The company has reviewed projects all around the world and considers Zumbi to be one of the most promising.”
To view the full press release, visit https://ibn.fm/3dEVb
About Gratomic Inc.
Gratomic is focused on introducing an exceptional anode material to the global electric vehicle and energy storage supply chains. True to its roots as an exploration and mining company, Gratomic aims to achieve full operational capabilities in 2021 on its Aukam Graphite Project and continues to diversify its assets into a multinational company with various projects globally. Large quantities of its naturally high-quality vein graphite have been shipped for testing to confirm its viability as an anode material. Gratomic is confident that the results will provide a unique competitive advantage in its desired target markets. The company’s recent collaboration agreement with Forge Nano has advanced the developments on its graphite finalization phase for the micronization and spheronization, as well as the patented Atomic Layer Deposition (“ALD”) coating of its Aukam vein graphite for use in lithium-ion batteries. Forge Nano is a global leader in surface engineering and precision nanocoating technology, using ALD. GRAT has two outstanding off-take purchase agreements with TODAQ and Phu Sumika with contract fulfillment slated to begin in 2021. Gratomic plans to deliver mine-to-market traceability through its partnership with deep-tech company TODAQ by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project. For more information about the company, visit www.Gratomic.ca.
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.
With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.
Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.
For more information, please visit https://www.investorwire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]
InvestorWire is part of the InvestorBrandNetwork.