Mason Graphite Announces Appointment of President and CEO and Completion of Corporate Change

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MONTREAL, October 26, 2022 /PRNewswire/ – Mason Graphite Inc. (“Graphite Mason“or the”Company“) (TSXV: LLG) (OTCQX: MGPHF) today announced that the Company has completed its change of business from a “Tier 2 Mining Issuer” to a “Tier 2 Investment Issuer” (the “EAR“) in accordance with policy 5.2 – Changes of business and reverse takeovers of the TSX Venture Exchange (the “TSX-V“) which was approved at the special meeting of shareholders of the Company held on July 14, 2022.

Change of governance

The Company also announced today that Mr. Pierre Damouni was named the new President, Chief Executive Officer and Corporate Secretary of the Company. Mr. Damouni was previously Managing Director of the Company since January 2021.

New Mason Graphite

Following the COB, Mason Graphite’s business plan is to grow from a junior mining company to a company focused on seeking investment opportunities, as evidenced by the conclusion of the option and joint venture (the “OJVA“) with Nouveau Monde Graphite Inc. (“NMG“), with the intention of continuing to create value for Mason Graphite shareholders. See the Company’s press releases dated May 16 and July 20, 2022.

Mason Graphite’s investment objectives are:

  • seek an above-average return on investment in order to continue to create significant value for its shareholders;
  • use investment income to fund other investment opportunities with an attractive risk-return profile; and
  • create synergies between its investments, including its management involvement in the management, activities, operations and strategies of its investment portfolio.

Mason Graphite’s strategy is to develop vertical and horizontal integration in the mining industry, with particular emphasis on industrial and specialty minerals, including battery-related materials and their by-products. This approach will be achieved by: (i) leveraging the skills and expertise of the Company’s Board of Directors (the “Plank“) and management to review, exercise due diligence and de-risk investment opportunities, and (ii) take a flexible approach to its investments.

Of the September 30, 2022Mason Graphite’s investments consisted of:

  • 117,800,000 common shares of Black Swan Graphene Inc. (“Black Swan Graphene“) (TSX-V: SWAN) (see “Black Swan Graphene Qualifying Transaction”); and
  • approximately $9,694,458 in cash or cash equivalents (excluding any Black Swan Graphene cash or cash equivalents).

Assuming exercise or deemed exercise by NMG of the option under the OJVA, Mason Graphite’s investments will also include a 49.0% joint venture interest with NMG.

See the Company’s management information circular dated June 17, 2022 under the Company’s profile on SEDAR at www.sedar.com.

TSX-V Approval

The TSX-V has conditionally approved the COB, subject to the Company fulfilling all of the requirements of the TSX-V. Although the Company anticipates receiving final approval from the TSX-V, there can be no assurance that the COB will receive final approval from the TSX-V.

Black Swan Graphene Qualifying Transaction

Effective on August 2, 2022Black Swan Graphene has completed its share exchange transaction with Dragonfly Capital Corp. (“Dragonfly“) originally announced on December 16, 2021. This transaction between Black Swan Graphene and Dragonfly was at arm’s length.

Dividend policy

Upon completion of the COB, the Company has no dividend policy and it is not expected that Mason Graphite will adopt a dividend policy in the near future.

Capital structure

The table below reflects the outstanding share capital of the Company at the completion of the COB, on a fully diluted basis.

Safety Designation

Number of titles

Percentage

Ordinary actions

141 292 585

91.28%

Choice

13,500,000(1)

8.72%

(1) As of the date hereof, 6,867,000 options are issued and outstanding.

About Mason Graphite

Mason Graphite is a Canadian company focused on finding investment opportunities. Its strategy is to develop vertical and horizontal integration in the mining industry, with particular emphasis on industrial and specialty minerals, including battery-related materials and their by-products. Its strategy also includes the development of value-added products, particularly for green technologies such as the electrification of transport. The Company currently owns 100% of the rights to the Lac Guéret deposit, one of the richest graphite deposits in the world, which is subject to an option and joint venture agreement with Nouveau Monde Graphite Inc. (TSX -V: NOU) (NYSE: NMG). The Company is also the largest shareholder of Black Swan Graphene Inc., a publicly traded Canadian company (TSX-V: SWAN) that focuses on the large-scale production and commercialization of patented high-performance, low-carbon graphene products. cost intended for several manufacturers. sectors, including concrete, polymers, Li-ion batteries and others.

For more information, please visit: www.masongraphite.com.

Neither the 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.

SOURCE Mason Graphite Inc.

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