InvestorNewsBreaks – Gratomic Inc. (TSX.V: GRAT) (OTCQX: CBULF) (FRA: CB82) Disposes of Noncore Assets, Anticipates VAT Refund
Dec 21, 2022
Gratomic (TSX.V: GRAT) (OTCQX: CBULF) (FRA: CB82), a multinational company with projects in Namibia, Brazil and Canada, announces that it has disposed of noncore assets in Namibia. In addition, the company was notified by the Namibian government that it qualified for a Valued Added Tax (“VAT”) refund from two previous VAT periods. Total proceeds from the disposal of noncore assets was NAD 3.20 million (CDN$251,178). The VAT refunds, which Gratomic anticipates receiving within the next two weeks, totaled NAD 3.15 million (CDN$247,253). That means that Gratomic expects to receive NAD 6.35 million (CDN$498,431) in the coming days.
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About Gratomic Inc.
Gratomic is a multinational company with projects in Namibia, Brazil and Canada. The company is focused on becoming a leading global graphite supplier and aims to secure a strong position in the electric vehicle (“EV”) battery supply chain. With the continued development of its flagship Aukam project and further exploration on its Capim Grosso property, Gratomic sets itself apart by seeking out unique top-quality assets around the world. True to its roots, the company will continue to explore graphite opportunities displaying potential for development. Gratomic ranked third place in the top-10 preforming mining stocks on the 2022 TSX Venture 50(TM). Large quantities of high-quality vein graphite have been shipped for testing to confirm its viability as an anode material. Gratomic is confident that the test results will provide a unique competitive advantage in its desired target markets. The company has formed a collaboration agreement with Forge Nano. With its patented Atomic Layer Deposition (“ALD”) rhis cooperation with Forge Nano is a key element to support Gratomic’s strategies toward the value-added phases of production of graphite for anode applications, namely micronization, spheronization and coating, making Gratomic graphite a preferred choice for use in lithium-ion batteries. For more information about the company, visit www.Gratomic.ca
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