Mr. Simon Marcotte of Black Swan reports

BLACK SWAN GRAPHENE AND GRAPHENE COMPOSITES INITIATE COMMERCIAL PARTNERSHIP FOR BALLISTIC PROTECTION

Black Swan Graphene Inc. and Graphene Composites Ltd. (GC), a leading advanced materials engineering company, have initiated a commercial partnership for the supply of Black Swan's graphene used in the fabrication of GC Shields, a patented ballistic protection technology. Furthermore, Black Swan is excited to report having received strong interest for its graphene enhanced masterbatch products (see press release dated April 30, 2024). Several promising initiatives involving high-profile customers are currently underway, and the Company expects to provide more details in the near future.

GC Shields offer unparalleled, lightweight ballistic protection to the law enforcement and defense sectors. Utilizing advanced materials and GC's patented graphene-aerogel composite, these shields possess unique force dispersion capabilities providing protection against multiple shots, stacked rounds, and edge impacts, all while maintaining minimal back face deformation.1 GC Shields are among the strongest, lightest, and most resilient ballistic shields on the market.

GC is currently extending the GC Shields technology using Black Swan's graphene to other applications, where the strength, resilience and lightweight of the composite can provide significant protection, including vehicle armour with certified STANAG Level-1 tests.2

Dr Steve Devine, Chief Technology Officer of GC, commented: "The quality, stability, and purity of the graphene produced by Black Swan, now utilized in the manufacture of GC Shields, ensure a highly stable product. Combined with their ISO-certified manufacturing processes, scalability, and competitive pricing, Black Swan offers significant reassurance regarding ongoing quality, cost, and production reliability within the supply chain."

Michael Edwards, Chief Operating Officer, of Black Swan, added: "We have been collaborating with Graphene Composites for some time and are delighted that their GC Shields products are being adopted in high-profile global safety applications. We look forward to continuing our partnership and developing further innovative solutions together."

GC Shields technology is protected by registered patents.

About Graphene Composites Ltd.

GC is an innovative advanced materials engineering company, driven by an ethos to create life-changing products. As a world leader in advanced and nano-materials research, development and design, we apply our expertise to a wide range of applications. We work with manufacturers to resolve key technical challenges by developing breakthrough solutions and incorporating our technologies to enhance existing product performance.

About Black Swan Graphene Inc.

Black Swan is focused on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries, and others, which are expected to require large volumes of graphene. Black Swan aims to leverage the low cost and green hydroelectricity of the province of Quebec as well as the proximity of the province's emerging graphite industry in order to establish an integrated supply chain, reduce overall costs, and accelerate the deployment of graphene usage. On March 27, 2023, Black Swan, Nationwide Engineering Research and Development Ltd. and Arup Group Ltd. ("Arup") announced strategic partnerships, establishing a fully integrated supply chain, and providing a turnkey solution for the construction and concrete industries. Arup is a multinational engineering consultancy headquartered in London, United Kingdom, with 18,000 experts working across 140 countries. Black Swan's graphene processing technology was developed by Thomas Swan & Co. Ltd. (" Thomas Swan ") over the last decade. Thomas Swan is a United Kingdom-based global chemicals manufacturer, with a century-long track record and has been at the forefront of graphene innovation.

More information is available at: www.blackswangraphene.com.

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