Mr. Arno Brand reports

GRATOMIC ANNOUNCES EXTENSION OF $6 MILLION NON-BROKERED PRIVATE PLACEMENT

Gratomic Inc. will be extending the closing of its non-brokered private placement offering of up to 20 million working capital units (WC units) at a price of 30 cents per WC unit for gross proceeds of up to $6-million for a further 15 days. The company has raised $3,050,980.50 to date. The balance of the financing will close on the earlier of the sale of the remaining 9.8 million WC units and May 26, 2023. The company will be closing a further tranche of the offering early next week.

Each WC unit consists of one common share and one common share purchase warrant. Each WC warrant entitles the holder to purchase one common share at a price of 45 cents per WC warrant share until two years form the closing of the offering.

Insiders of the company may subscribe for up to 25 per cent of the WC units in the offering. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the company to be issued to the insiders does not exceed 25 per cent of its market capitalization.

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 continuing 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.

We seek Safe Harbor.