TORONTO, Aug. 10,
2022 /CNW/ - Black Swan Graphene Inc. ("Black Swan"
or the "Company") (TSXV: SWAN) is pleased to provide a
corporate update following its first day of trading on the Toronto
Venture Exchange ("TSXV") on August 9,
2022. The information provided herein was previously
disclosed by Mason Graphite Inc. (TSXV: LLG) (OTCQX: MGPHF) but is
being recirculated today in order to ensure all investors and
market participants interested in the Company have an opportunity
to review.
Highlights include:
- The completion of its listing process (the "RTO
Transaction") with Dragonfly Capital Corp., and the conversion
of the subscription receipts into common shares for gross proceeds
of approximately $7.0 million, which
was upsized from the original $5.0
million due to high demand. Following the closing of the RTO
Transaction, Black Swan Graphene now has a cash position of
approximately $11M.
- Based on the closing price of Black Swan on August 9, 2022, Mason Graphite's investment in
Black Swan Graphene is worth approximately $28.2 million;
- The execution of a multi-year Master Distributorship Agreement
with Gerdau Grafeno Ltda ("Gerdau Graphene"), a wholly owned
subsidiary of Gerdau S. A. focused on the development of chemical
additives, mineral additives and masterbatches with graphene, which
will buy products from Black Swan Graphene in order to market,
promote and resell in the Americas Region;
- The execution of a non-binding letter of intent with Nouveau
Monde Graphite Inc., whereby Black Swan Graphene would agree to
establish graphene production capacity within Nouveau Monde's
graphite processing plant, which has a design throughput of 3.5
tonnes of ore per hour (tph), the equivalent nameplate production
capacity of approximately 1,000 tonnes of graphite concentrate per
annum, using NMG's ore grading an average of 4.5% graphitic carbon,
in Saint-Michel-des-Saints,
Québec, Canada, in order to create
a fully-integrated producing facility from graphite ore, through
graphite concentrate, and to graphene finished products. This
proposed agreement falls within the proposed joint venture to be
formed between Mason Graphite and Nouveau Monde; see the joint
press release issued by Mason Graphite and Nouveau Monde on
May 16, 2022;
- The execution of a binding collaboration agreement with a key
equipment supplier, which includes commercial details and minimum
commitments for the procurement of long-lead items required for
large scale production of graphene;
- The grant by the Chinese Authorities of a Certificate of
Invention Patent to Black Swan Graphene for apparatus and method
for bulk production of atomically thin 2-dimentional materials
including graphene, increasing the portfolio of patents and patent
applications to 20 in 9 countries;
- The execution of a Tier-2 Membership Agreement with the
Graphene Engineering Innovation Center ("GEIC") of the
University of Manchester, a
world-class centre which promotes, assists and carries out applied
research, commercialisation, and manufacture of graphene.
- The launch of a new website, which includes a corporate video,
which will be used for various industry events and furthering the
brand awareness of Black Swan Graphene:
www.blackswangraphene.com;
- The appointment of Mr. Michael
Edwards as Black Swan Graphene's Chief Operating Officer
("COO"). Mr. Edwards joins Black Swan Graphene from Thomas Swan & Co. Ltd., where he was the
head of the Advanced Materials Division, where the company's
graphene processing technology was originally developed;
- The appointment of Mr. Henri
Wilhelm, as Black Swan Graphene's Vice-President Technology.
Mr. Wilhelm has more than 15 years of experience in R&D,
characterization and development of graphite-based products for
energy storage applications. His career included working within
Imerys Graphite & Carbon and SGL; and
- The appointment of Mr. Aidan
Sullivan, as Black Swan Graphene's Vice-President Strategic
Initiatives; Mr. Sullivan has more than 15 years of corporate
experience and brings to Black Swan Graphene a vast network of
international relationships.
Simon Marcotte, President and
Chief Executive Officer of Black Swan Graphene, stated: "We
couldn't be more excited to see Black Swan Graphene progress so
rapidly since its inception, in latter half of 2021. The fact that
we now have a clear path towards commercial production and a
distribution partner is a testament of how burgeoning the graphene
industry has become. I would also like to welcome Michael, Henri
and Aidan to Black Swan."
Master Distributorship Agreement
with Gerdau Graphene
Gerdau Graphene will collaborate with Black Swan Graphene in
order to introduce graphene products and accelerate the adoption of
graphene in different industrial applications in the Americas
market, including concrete and polymers where Gerdau Graphene will
serve as a value-add distributor, working with its customers in the
integration of the graphene products, and support the development
of existing and new applications. Black Swan Graphene will support
Gerdau Graphene with its know-how, product optimization and
dispersion capabilities in different materials and polymer
matrixes, as well as commercialization capacity.
Mr. Alexandre de Toledo Corrêa, General Manager for Gerdau
Graphene, commented: "We are very excited about the growing
opportunities of the graphene industry in the Americas. We are
proud to establish this partnership with Black Swan Graphene which
has demonstrated good product quality and availability, as well as
know-how and technical expertise on graphene development."
Completion of a $7 Million Subscription Receipt
Financing
Due to high demand, the subscription receipt financing completed
concurrently with the RTO Transaction, was upsized from
$5 million to approximately
$7 million. This capital was in
addition to the cash held by Black Swan Graphene of approximately
$4.0 million. Following the closing
of the RTO Transaction, Black Swan now has approximately
$11 million in cash, prior to the RTO
Transaction related costs, which is sufficient to accomplish its
business objectives beyond the next 24 months. Based on closing
price of the shares of Black Swan on August
9, 2022 on the TSX-V, the shares of Black Swan owned by
Mason Graphite have are valued at approximately $28.2 million.
Non-Binding Letter of Intent with
Nouveau Monde Graphite
Nouveau Monde and Black Swan Graphene have entered into a
non-binding letter of intent, whereby Black Swan Graphene would
establish its graphene processing technology in Nouveau Monde's
graphite concentrate production facility, resulting in a fully
integrated production supply chain from graphite ore in the ground,
through graphite concentrate, and to graphene finished products.
This facility also has laboratory, process control, and quality
assurance capabilities, which Black Swan Graphene will be able to
share and benefit from for its own commercialization and
distribution.
In September 2018, Nouveau Monde
commissioned its graphite concentrate production facility in
Saint-Michael-des-Saints, Québec,
Canada, which has a nameplate
production capacity of approximately 1,000 tonnes of graphite
concentrate per annum which is the key feedstock for the graphene
processing technology of Black Swan Graphene. Nouveau Monde has
invested approximately $30 million in
this facility thus far.
Binding Collaboration Agreement
with a Key Equipment Supplier
Black Swan Graphene has executed a Collaboration Agreement with
a key European equipment manufacturer, which includes commercial
details and minimum commitments for the procurement of key items
necessary for large scale graphene manufacturing based on the
graphene processing technology of Black Swan. The agreement also
establishes parameters restricting the apparatus manufacturer from
selling such equipment for the purpose of graphene and 2-D
materials production.
Grant of a Certificate of
Invention Patent by the Chinese Authorities
After examination of this invention application, in accordance
with the Patent Law of the People's
Republic of China, the authorities have decided to grant a
patent and issue a certificate (certificate number: 4904683;
Announcement No.: CN108137328B) to the invention and register the
same in the patent rolls. The term of this patent is twenty years
from the application date. This increases Black Swan Graphene's
patent portfolio to 20 patents and patent applications in 9
countries, namely the United
Kingdom, the United States,
Canada, Germany, Italy, Spain,
France Sweden and China.
Membership agreement with the
Graphene Engineering Innovation Center
Black Swan Graphene will now have a formal presence at the
Graphene Engineering Innovation Center ("GEIC"). The GEIC
specialises in the rapid development and scale-up of graphene and
other 2D materials applications. It is an industry-led innovation
centre, designed to work in collaboration with industry partners to
create, test and optimise new concepts for delivery to market,
along with the processes required for scale up and supply chain
integration. With a dedicated team of experienced Application
Managers, Application Specialists, Technicians and the Business
Engagement team, the GEIC can react as quickly as industry
requires. The tier-2 membership model allows us to work on short
feasibility projects, through to a long-term strategic partnership
with multiple projects in different application areas.
About Black Swan Graphene
Inc.
Black Swan Graphene Inc. 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 and, in turn,
require large volumes of graphite. Black Swan aims to leverage the
low cost and green hydroelectricity of the province of Québec as
well as the proximity of the eventual production sites of Mason
Graphite in order to establish a fully integrated supply chain,
reduce overall costs, and accelerate the deployment of graphene
usage.
For more information, please visit:
www.blackswangraphene.com
Black Swan Graphene Inc. on behalf of the Board of
Directors:
Simon Marcotte, President &
CEO
Forward-Looking
Information
Certain statements in this press release are forward-looking
statements, which reflect the expectations of management.
Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future, including
but not limited to, the Company's business objectives and
operations. Such statements are subject to risks and uncertainties
that may cause actual results, performance or developments to
differ materially from those contained in the statements, including
risks related to factors beyond the control of the Company. The
novel strain of coronavirus, COVID-19, and the ongoing military
conflict between the sovereign state of Ukraine and Russia also pose new risks that are currently
indescribable and immeasurable. No assurance can be given that any
of the events anticipated by the forward-looking statements will
occur or, if they do occur, what benefits the Company will obtain
from them. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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SOURCE Black Swan Graphene