TORONTO, ON / ACCESSWIRE / January 12, 2021 / Gratomic Inc. (“Gratomic” or the “Firm”) (TSXV:GRAT) (FRANKFURT:CB82) (WKN:A143MR) (OTCQB:CBULF) needs to announce that it has upgraded its pre buy settlement with expertise firm, TODAQ Star Program Part 1 Corp.(“TODAQ“), a subsidiary of TODAQ Holdings Inc., pursuant to the phrases of a brand new settlement dated January 7, 2020 between the Firm and TODAQ (the “Provide Settlement“) to offer battery grade graphite SG16 for the EV Battery Market. TODAQ is proposed to obtain an combination of graphite valued at US$25,000,000 from Gratomic’s Aukam Graphite Undertaking in Namibia over a 36-month interval in trade for a non-cash digital asset created by TODAQ as a medium for trade and retailer of worth often called a TODA word (“TDN“). The Provide Settlement achievement has been negotiated at an trade fee of USD$0.30 per TDN word.
The Provide Settlement contemplates that Gratomic will ship, to TODAQ, 5,000 tonnes of SG16 product valued at USD$25 million underneath the phrases of the settlement, over a 36-month interval. TODAQ will put in an preliminary order of 1,800 tonnes, valued at USD $9 million, in trade for 30,000,000 TDN, over the primary 90-day interval of the contract. The unique settlement with TODAQ introduced within the Press Launch dated October 17, 2019, and referred to within the Press Launch dated Could 25, 2020, offered that the primary 1800 tonnes of product could be bought on the premise of an trade fee of USD$0.10 per TDN with the stability being bought on the market fee for TDN.
The Provide Settlement now fixes the worth of the TDN notes at USD$0.30 for the acquisition of the complete 5000 tonnes offering a hard and fast worth and certainty for the Firm. The primary supply date has not but been established and can rely on when the Firm completes the development of its processing plant on the Aukam Undertaking in Namibia (see Press Launch dated December 31, 2020 for an replace on the standing of the processing facility). When the Firm is able to ship the SG16 product to TODAQ, it is going to inform TODAQ. TODAQ will then submit a purchase order order for an preliminary 600 tonnes of product valued at $3 million and TODAQ will situation 10 million TDN to the Firm. The Firm may have 90 days thereafter to ship the product to an on-site warehouse on the Aukam Property underneath the management of TODAQ which can represent good supply for the product. The Firm intends to carry onto any TDN acquired for a minimal six months after which it is going to begin liquidating the TDN into money. See “Danger Elements” beneath.
As a part of the Provide Settlement, each TODAQ and Gratomic can even be establishing a collectively owned entity, Q Corp, to carry an preliminary reserve of 60 million TDN for use to construct a treasury of commodities together with graphite. As effectively, Q Corp will likely be supplied with digital provide chain, custody, pockets and buying and selling options by TODAQ USA, the digital answer supplier of TODAQ, so Gratomic clients and graphite house owners can personal verifiably genuine and clear graphite which may be traded peer-to-peer and dropped at trade markets. Q Corp gives the choice to Gratomic to commerce extra manufacturing coming from its Aukam Processing facility to Q Corp.
SG16 is a battery grade graphite that can be utilized for anode materials within the majority of Li-ion batteries focusing primarily on the EV sector.
The graphite is to be bought by TODAQ to take a seat in reserve as a backstop to underpin the worth of deployed TDN. The TDN will enable for cryptographic possession and monitoring of commodities as they’re processed and traded.
The Provide Settlement gives that if Gratomic is unable to ship graphite in accordance with the orders from TODAQ, TODAQ has the fitting to refuse to take any subsequent try and fulfil the order, terminate the settlement instantly, receive substitute product from one other provider and get well from the Firm any prices and bills incurred in acquiring such substitute product or suing for damages underneath the contract.
The Provide Settlement gives that the graphite to be delivered will comprise the SG16 product pre-specifications. For extra info, please comply with this link to view the Firm’s present Company Presentation, preliminary product info is listed on web page 48.
“The current growth of digital foreign money markets demonstrates the significance of Gratomic being forward of the competitors with this pre-purchase settlement. We would be the first firm to commercialize graphite with this revolutionary expertise.” commented Armando Farhate, COO and Head of Graphite Advertising and gross sales.
“The adjustment to our present TODAQ settlement comes as a welcome change because the Firm continues to regulate its main focus in direction of the quickly rising electrical car market. TODAQ gives a really distinctive and revolutionary platform, by means of which Gratomic can convey shareholder worth by means of bridging the Firm’s asset right into a non-Fiat medium” said Arno Model, President & CEO of Gratomic Inc.
Gratomic needs to emphasise that no Preliminary Financial Evaluation (“PEA“), Preliminary Feasibility Research or Feasibility Research has been accomplished to help any stage of manufacturing. In truth no mineral assets, not to mention mineral reserves demonstrating financial viability and technical feasibility, have been delineated on the Aukam Property.
The Firm engaged Dr. Ian Flint, Ph.D., P. Eng. (BC), a Certified Individual as that time period is outlined underneath Nationwide Instrument 43-101 Requirements of Disclosure for Mineral Tasks (“NI 43-101“) to finish a preliminary financial evaluation (PEA) on the Aukam Processing plant primarily based upon a useful resource estimate to be ready by one other Certified Individual. The examine, its suggestions, and their subsequent implementation, will present conclusions and suggestion at a PEA stage of consolation regarding the dimensions up of the present processing plant to a business scale processing facility that may present the specified focus grades and manufacturing charges. A preliminary financial evaluation is preliminary in nature, and there’s no certainty that the preliminary financial evaluation will likely be realized.
The Firm just isn’t able to exhibit or disclose any capital and/or working prices that could be related to the processing plant, nor the Firm’s potential to fulfil its obligations to ship the 1800 tonnes of graphite as required by the purchaser orders.
Gratomic needs to emphasise that the availability of graphite pursuant to any off-take or provide settlement referred to on this Press Launch is conditional on Gratomic having the ability to convey the Aukam mission right into a manufacturing part, and for any graphite being produced to satisfy sure technical and mineralization necessities. See “Danger Elements” beneath.
No mineral assets, not to mention mineral reserves demonstrating financial viability and technical feasibility, have been delineated on the Aukam Property. The Firm just isn’t able to exhibit or disclose any capital and/or working prices that could be related to the processing plant.
The Firm advises that it has not primarily based its manufacturing determination on even the existence of mineral assets not to mention on a feasibility examine of mineral reserves, demonstrating financial and technical viability, and, consequently, there could also be an elevated uncertainty of reaching any explicit stage of restoration of minerals or the price of such restoration, together with elevated dangers related to creating a commercially mineable deposit.
Traditionally, such tasks have a a lot greater danger of financial and technical failure. There isn’t a assure that manufacturing will start as anticipated or in any respect or that anticipated manufacturing prices will likely be achieved.
Failure to start manufacturing would have a cloth antagonistic influence on the Firm’s potential to generate income and money circulation to fund operations. Failure to attain the anticipated manufacturing prices would have a cloth antagonistic influence on the Firm’s money circulation and future profitability.
TDN is designed to perform as a stablecoin, not a safety; have a good portion of the use as a loyalty reward; act as an asset for items and companies purchases; and have its use be contained throughout the Adot community ecosystem. The TDN program governance plans to be put underneath a non-profit basis throughout 2021. As a completely decentralized asset, enterprise and particular person house owners can train full management and possession of their TDN. Because of its intrinsic qualities as a TODA containerized, good, immutably self-tracking asset, TDN can also be designed to help safe and environment friendly achievement of regulatory wants. The present marketplace for TDN consists of TODAQ and its present clients, partnering corporations in addition to their clients and companions. These events are utilizing TDN amongst one another as a cost means in return for items and companies. TODAQ intends to develop this market sooner or later and likewise expects to develop this market to incorporate over-the-counter digital asset buying and selling platforms, crypto exchanges, commodity exchanges and custodial belief companies though TODAQ makes no illustration that it will likely be in a position to develop the marketplace for the buying and selling of TDN.
Traditionally, such revolutionary technical digital property have a a lot greater danger of financial and technical failure and there’s no certainty that these sorts of property may have any worth. There isn’t a assure that TDN will carry out as anticipated and neither TODAQ nor the TDN program make any declare or forecast concerning the longer term worth of TDN and don’t provide any future expectation of revenue.
About Gratomic Inc.
Established in 2014, Gratomic is targeted on the proposed manufacturing of low-cost mine to market carbon-neutral, eco-friendly, excessive purity vein graphite to be offered to the EV and Vitality Storage provide chains. Gratomic is anticipating full operational capabilities in 2021.
Gratomic is within the means of solidifying its plans for micronization and spheronization of its clear Aukam graphite. This vital milestone is a small, extra step within the Firm’s proposed eco-friendly processing cycle and is meant to permit it to satisfy ideally suited North American battery grade requirements to be used in Li-ion battery anodes.
The Firm plans to ship mine-to-market traceability and assured high quality management. This will likely be completed by offering documented monitoring on all graphite generated at its flagship Aukam Graphite Undertaking. The monitoring will start at Aukam and will likely be verified at each stage throughout transport.
Two off-take buy agreements are at the moment held for lump-vein graphite sourced from Gratomic’s Aukam Graphite Undertaking in Namibia, Africa. Success of the contracts is anticipated to start in Q1 of 2021. The agreements exist with TODAQ and Phu Sumika.
TODAQ is an revolutionary deeptech firm that may containerize property, transactions & markets, and can accomplice with Gratomic on its mine-to-market commodity monitoring and buying and selling. Containerized property are verifiably distinctive, hold an immutable document of who has owned them, have embedded good logic, may be transferred P2P, and are interoperable with any system. Asset house owners get pleasure from stronger possession management, worth retention when buying and selling, and skill to show authenticity in seconds.
Phu Sumika is a big world graphite provider to battery and lubrication corporations.
Gratomic Inc. is listed on the TSX Enterprise Change underneath the image GRAT, on the OTCQB underneath the image CBULF and on the Frankfurt Change underneath the image CB82.
For extra info: go to the web site at www.gratomic.ca or contact:
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Ahead Trying Statements:
This information launch comprises forward-looking statements, which relate to future occasions or future efficiency and mirror administration’s present expectations and assumptions. Such forward-looking statements mirror administration’s present beliefs and are primarily based on assumptions made by and data at the moment accessible to the Firm. Buyers are cautioned that these forward-looking statements are neither guarantees nor ensures and are topic to dangers and uncertainties which will trigger future outcomes to vary materially from these anticipated. These forward-looking statements are made as of the date hereof and, besides as required underneath relevant securities laws, the Firm doesn’t assume any obligation to replace or revise them to mirror new occasions or circumstances. All the forward-looking statements made on this press launch are certified by these cautionary statements and by these made in our filings with SEDAR in Canada (accessible at www.sedar.com).