Mr. Pierre-Yves Terrisse reports

NANOXPLORE CLOSES BOUGHT DEAL LIFE PRIVATE PLACEMENT OF $25,728,840

Nanoxplore Inc. has closed its previously announced bought deal private placement, whereby it issued 10,720,350 common shares in the capital of the corporation at a price of $2.40 per common share, for gross proceeds of $25,728,840.

The offering was conducted by a syndicate of underwriters co-led by Ventum Financial Corp. and Cormark Securities Inc., and which included National Bank Financial Inc., RBC Dominion Securities Inc., Paradigm Capital Inc. and Raymond James Ltd.

The company intends to use the net proceeds of the offering to support future growth by investing in dry graphene expansion, and for general corporate and working capital purposes.

The offering was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption.

The common shares issued under the offering are freely tradeable and are not subject to a hold period under applicable Canadian securities laws.

As consideration for their services, the underwriters received a cash fee in an amount equal to 5 per cent of the gross proceeds of the offering (subject to reduction with respect to sales made to investors on a president's list).

Martinrea International Inc., an insider of the corporation, subscribed 2,343,750 common shares in the offering, for an amount of approximately $5,625,000, thereby maintaining its interest in the corporation.

The participation of an insider in the offering is considered a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The corporation relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, exceeds 25 per cent of the corporation's market capitalization (as determined under MI 61-101).

There is an offering document related to the offering that can be accessed under the corporation's profile on SEDAR+ and on the corporation website.

About Nanoxplore Inc.

Nanoxplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in transportation and industrial markets. Also, the corporation provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics and other industrial sectors. The corporation is also a silicon-graphene-enhanced lithium-ion battery manufacturer for the electric vehicle and grid storage markets. Nanoxplore is headquartered in Montreal, Que., with manufacturing facilities in Canada, the United States and Europe.

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