Graphano Announces Warrant Repricing

Core Viewpoint - Graphano Energy Ltd. intends to amend the exercise price of 12,334,240 common share purchase warrants from $0.52 to $0.33 per share, subject to acceptance by the TSX Venture Exchange, to better reflect current market conditions and provide additional working capital if exercised [3]. Group 1: Warrant Amendment - The warrants were originally issued through private placements that closed on December 22, 2020, and April 19, 2021, and converted into common shares and warrants upon the listing of the Company's shares on August 21, 2021 [2]. - The current exercise price of the warrants is $0.52 per share, and the amendment will change it to $0.33 per share while keeping all other terms, including the expiry date, unchanged [3]. Group 2: Management Changes - Andrew Gainsbury has been appointed as the acting Chief Financial Officer on an interim basis, bringing over 16 years of experience in financial management and consulting [5]. - Gainsbury replaces James (Jay) Richardson, who has temporarily stepped away from his duties for medical reasons but remains a director of the Company [6]. Group 3: Company Overview - Graphano Energy Ltd. is focused on exploring and developing energy metals resources, particularly graphite, which is in high demand for technology applications such as lithium batteries in electric vehicles [7][8]. - The Company's Lac Aux Bouleaux property is located adjacent to Canada's only producing graphite mine and is positioned to meet the growing demand for graphite in various industries [8].