Mr. Peter Damouni reports

MASON HIGHLIGHTS BLACK SWAN GRAPHENE'S SUCCESSFUL CLOSING OF A $6M FINANCING

Mason Resources Inc. has noted Black Swan Graphene Inc.'s $6-million financing has closed, further to the news release dated Feb. 5, 2025, and following Black Swan's one-for-eight share consolidation, effective Feb. 10, 2025, Black Swan has closed its non-brokered private placement of units of the company at a price of 50 cents per unit for gross aggregate proceeds of $6-million.

Each unit is composed of one common share in the capital of the company and one-half of one transferable share purchase warrant. Each warrant entitles the holder thereof to acquire one additional share at a price of $1 per warrant share for a period of 18 months following the date of closing of the offering, expiring Aug. 11, 2026.

Capacity expansion and corporate positioning

Simon Marcotte, president and chief executive officer, commented: "I am very pleased to welcome an extremely strong group of international investors, as well as to thank our existing investors for their support in this financing. I believe Black Swan is poised to deliver on its plan for commercialization and growth over the course of 2025.

"This financing enables us to accelerate our expansion, scale production and expand our sales team to drive global commercialization of our graphene-enhanced solutions. The potential of our graphene in industrial applications, notably our graphene enhanced masterbatch in the plastics and polymer sector, combined with our partnerships in the concrete/cement sector, positions us to lead the industry in material innovation.

"Building on a series of successful agreements, partnerships and ongoing discussions with potential clients, the company plans to use a portion the proceeds from the offering to acquire and install additional equipment at our facility at Consett, United Kingdom. This expansion will significantly boost production capacity from approximately 30 to 40 tonnes per year to an impressive 140 tonnes annually, enabling the company to meet expected increasing market demand, while continuing to support customer-driven development initiatives with plant capacity. Additionally, the funds will be allocated toward expanding the direct sales and operations teams to drive global sales efforts and support increased production and general corporate activities.

"As demand continues to rise and partnerships grow, the company is well positioned to establish itself as a global leader in graphene-enhanced materials. I look forward to updating shareholders on key advancements in our commercial initiatives, including new strategic partnerships and market opportunities that will further strengthen our industry leadership over the coming months."

Details of the offering

All securities issued in connection with the offering are subject to a statutory four-month hold period expiring June 12, 2025. The company now has 49,716,260 shares and six million warrants issued and outstanding.

Three insiders of the company participated in the offering subscribing for an aggregate of 2.23 million units for aggregate gross proceeds of $1,115,000. Accordingly, the insiders' subscriptions constitute a related-party transaction under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The issuance of the units to the insiders was exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(b) as the shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.7(a) of MI 61-101, in that the fair market value of the consideration of the securities issued to the related parties does not exceed 25 per cent of the company's market capitalization. A cash finder's fee of $17,500 was paid to an eligible finder in connection with the offering.

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 volume-driven industrial sectors, including concrete, polymers and others. Black Swan's graphene processing technology was developed by Thomas Swan & Co. Ltd. over the past decade. Thomas Swan is a United Kingdom-based global chemical manufacturer with a century-long record and a reputation for being at the forefront of advanced material and graphene innovation. Since 2024, Black Swan has launched seven commercially available graphene enhanced masterbatch polymer products, which are currently being tested by several international clients.

About Mason Resources Inc.

Mason is a Canadian corporation focused on seeking investment opportunities. Mason is the largest shareholder of Black Swan, which is focusing on the large-scale production of patented high performance and low-cost graphene products aimed at several industrial sectors, including concrete and polymers, which are expected to require large volumes of graphene and, in turn, large volumes of graphite. Mason is also one of the largest shareholders of Nouveau Monde Graphite Inc., an integrated company developing responsible mining and advanced manufacturing operations to supply the global economy with carbon-neutral active anode material to power electric vehicle and renewable energy storage systems. The company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Quebec, Canada. With enviable environmental, social and governance standards and structuring partnerships with anchor customers, Nouveau Monde is set to become a strategic supplier to the world's leading lithium-ion-battery and EV manufacturers, providing high performing and reliable advanced materials while promoting sustainability and supply chain traceability. Lastly, Mason is the largest shareholder of Northx Nickel Corp., a Canadian nickel-copper-cobalt-platinum-group-element-focused exploration and development company with an extensive portfolio of assets in Quebec and Ontario, Canada. The company's flagship asset is the Grasset project, located within the Abitibi greenstone belt, with an indicated mineral resource of 5.5 million tonnes of 10.53 per cent nickel equivalent (such NiEq grade being established based on: 1.22 per cent Ni, 0.13 per cent Cu, 0.03 per cent Co, 0.26 gram per tonne platinum and 0.64 g/t palladium). In addition, the company holds a portfolio of 37 properties and over 300 square kilometres in the world-class mining district of Sudbury, Ont.

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