Mr. Arno Brand reports

GRATOMIC CLOSES FURTHER TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FOR TOTAL OF $4.15 MILLION RAISED TO DATE

Gratomic Inc. has completed a further tranche 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 with the placement of 2,237,363 WC units for gross proceeds of $671,208.90. The company has raised $4,148,189.40 to date.

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 May 19, 2025.

A finder's fee of $1,750 was paid to an eligible intermediary and 5,833 broker warrants were issued. Each broker warrant entitles the holder to purchase one common share of the company at a price of 45 cents until May 19, 2025.

The securities issued on this closing of the offering are subject to a hold period expiring on Sept. 20, 2023. Final closing of the remainder of the offering is expected on or before May 26, 2023.

Proceeds from the offering will be used for general working capital and for operating capital for the company's Aukam project.

One insider subscribed for 879,030 WC units for proceeds of $263,709 on this closing of the offering. The insider private placement is 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 issued to the insider 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.