Gratomic Provides Further Update on COVID-19 and Extension to File Interim and Annual Financial Statements and Management's Discussion and Analysis
TORONTO, ON / May 22, 2020 / Gratomic Inc. (“GRAT” or the “Company”) (TSXV:GRAT)(FRANKFURT:CB81) (WKN:A143MR) wishes to provide an update on the Press Release issued April 24, 2020 relating to the coronavirus pandemic (“COVID-19“) as it affects the Company and the status of the filing of its annual financial statements and accompanying management’s discussion and analysis, and related CEO and CFO certifications, for the financial year ended December 31, 2019 (the “Annual Filings“), and the filing of its interim financial statements and accompanying management’s discussion and analysis, and related CEO and CFO certifications, for the first quarter of 2020 ending March 31, 2020 (the “Interim Filings“). The Company issued the required press release to obtain an extension pursuant to Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements (the “OSC Temporary Exemption“)
The lockdown resulting from the outbreak of COVID-19 has created unprecedented disruptions in the global economy and stock markets. Gratomic’s Board of Directors and Management continue to take all necessary precautions to ensure the health of its employees and consultants in Canada and Namibia and to manage the short-term challenges to its business.
Gratomic continues to work diligently and expeditiously with its auditors in both Namibia and Canada to file the Annual Filings on or before June 15, 2020 and the Interim Filings on or before July 14, 2020 and currently anticipates meeting these deadlines . In the interim, management and other insiders of Gratomic are subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
Gratomic confirms that since the filing of its interim consolidated financial statements for the period ended September 30, 2019, there have been no material business developments other than those disclosed through press releases and identified in the April 24, 2020 press release as well as in the press release issued on May 6, 2020 (relating to the grant of a mining licence) and the press release issued on May 12, 2020 (relating to the extension of the closing of the Offering originally announced on April 8, 2020 and amended on April 21, 2020).
As required by the OSC Temporary Exemption, the Company will issue further press releases at 30 day intervals providing updates on material business developments, if any, including updates on the Annual Filings and Interim Filings.
About Gratomic Inc.
Gratomic is an advanced materials company focused on mine to market commercialization of graphite products most notably high value graphene-based components for a range of mass market products. We have a Joint Venture collaborating with Perpetuus Carbon Technology, a leading European manufacturer of graphenes, to use Aukam graphite to manufacture graphene products for commercialization on an industrial scale. The Company is listed on the TSX Venture Exchange under the symbol GRAT.
“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).