TSX-V: GRAT
TORONTO, May 14, 2019 /CNW/ - Gratomic Inc.
("Gratomic" or the "Company") (TSX-V: GRAT)
(CB81–FRANKFURT) a vertically integrated graphite to
graphenes, advanced materials development company provides the
following clarification to its most recent press release in which
it disclosed the entering into of a definitive off take agreement
for graphite concentrate to be produced from its Aukam Graphite
mine ("Aukam") in Namibia
("Offtake Agreement").
Gratomic wishes to emphasize that Offtake Agreement is
conditional on Gratomic being able to bring the Aukam into a
production phase, and for any graphite being produced to meet
certain technical and mineralization requirements.
Gratomic continues to move its business towards production and
as part of its business plan, expects to obtain a National
Instrument 43-101 Standards of Disclosure for Mineral
Projects technical report to help it ascertain the economics of
Aukam.
Presently the Company uses its existing pilot processing
facility to produce certain amounts of graphite concentrate from
accumulated surface graphite.
Risk Factors
The Company advises that it has not based its production
decision on a feasibility study of mineral reserves, demonstrating
economic and technical viability, and, as a result, there may be an
increased uncertainty of achieving any particular level of recovery
of minerals or the cost of such recovery, including increased risks
associated with developing a commercially mineable deposit.
Historically, such projects have a much higher risk of economic
and technical failure. There is no guarantee that production will
begin as anticipated or at all or that anticipated production costs
will be achieved.
Failure to commence production would have a material adverse
impact on the Company's ability to generate revenue and cash flow
to fund operations. Failure to achieve the anticipated production
costs would have a material adverse impact on the Company's cash
flow and future profitability.
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
FORWARD LOOKING STATEMENTS: This news release
contains forward-looking statements, which relate to future events
or future performance and reflect management's current expectations
and assumptions. Such forward-looking statements reflect
management's current beliefs and are based on assumptions made by
and information currently available to the Company. Investors are
cautioned that these forward looking statements are neither
promises nor guarantees, and are subject to risks and uncertainties
that may cause future results to differ materially from those
expected. These forward-looking statements are made as of the date
hereof and, except as required under applicable securities
legislation, the Company does not assume any obligation to update
or revise them to reflect new events or circumstances. All of the
forward-looking statements made in this press release are qualified
by these cautionary statements and by those made in our filings
with SEDAR in Canada (available
at www.sedar.com).
SOURCE Gratomic