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Black Swan Graphene Provides Corporate Update
PR Newswire
TORONTO, Aug. 10, 2022
TORONTO, Aug. 10, 2022 /PRNewswire/ - 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.
Black Swan Graphene Logo (CNW Group/Black Swan Graphene)
Highlights include:
o 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.
o 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;
o 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;
o 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;
o 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;
o 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;
o 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.
o 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;
o 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;
o 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
o 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.