Applied Graphite Announces $1,000,000 Convertible Note Offering
APPLIED GRAPHITE ANNOUNCES $1,000,000
CONVERTIBLE NOTE OFFERING
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
July 7, 2025
/CNW/ - Applied Graphite Technologies Corporation ("
AGT
"),
(TSXV: AGT) announces that it will undertake a non-brokered private placement offering (the
"
Offering
") of up to 20,000,000 convertible notes, (the
"Convertible Notes
") convertible into up to
20,000,000 common shares ("
Common Shares
") at a price of
Cdn$0.05
per share for gross
proceeds of up to
Cdn$1,000,000
.
Pursuant to the Offering, the Convertible Notes will bear interest at the rate of 10%, compounded
annually and accrued quarterly, and payable only in Common Shares of AGT on conversion. The
Convertible Notes will mature two years from the date of issuance, subject to the sole election of
AGT converting the Convertible Notes into Common Shares earlier at any time with 15 days' written
notice to the holders of Convertible Notes.
Existing insiders of AGT intend to purchase a portion of the Offering. Participation by insiders of
AGT in the Offering constitutes a related-party transaction as defined under Multilateral Instrument
61-101 -
Protection of Minority Security Holders in Special Transactions
("
MI 61-101
"). The
issuance of securities is exempt from the formal valuation and minority shareholder approval
requirements of MI 61-101 on the basis that the fair market value of the insiders' participation in the
Offering, as determined in accordance with MI 61-101, shall not exceed 25% of the Company's
market capitalization.
The Offering is scheduled to close on or about
July 11, 2025
and is subject to the Company
receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange to
list the Common Shares issuable upon conversion of the Convertible Notes and accrued interest
payable in Common Shares thereon. Finder's fees of 6% in cash may be payable on a portion of the
Offering. All securities to be issued pursuant to the Offering will be subject to a four-month hold
period under applicable securities laws in
Canada
.
The net proceeds of the Offering will be used by AGT for general working capital purposes.
This press release is not an offer to sell or the solicitation of an offer to buy the securities in
the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior
to qualification or registration under the securities laws of such jurisdiction. The securities being
offered have not been, nor will they be, registered under the United States Securities Act of 1933,
as amended, and such securities may not be offered or sold within
the United States
or to, or for the
account or benefit of, U.S. persons absent registration or an applicable exemption from U.S.
registration requirements and applicable U.S. state securities laws.
About Applied Graphite Technologies
Applied Graphite Technologies is developing the Queens
Mine Complex
in
Sri Lanka
. The QMC is on
private land in the heart of the vein graphite district, with historical workings and vein graphite
outcrops. Vein graphite is naturally high grade (+95% carbon content in the ground) and does not
require primary processing. Testing of vein graphite in lithium-ion battery anodes has shown very
high capacities, performing better than synthetic graphite. Natural vein graphite has a far superior
ESG footprint than synthetic and is cheaper without compromising performance.
The technical information in this news release has been prepared by
Don Baxter
, P.Eng., a "qualified
person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI
43-101").
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.
This news release contains forward-looking information as such term is defined in applicable
securities laws, which relate to future events or future performance and reflect management's
current expectations and assumptions. The forward-looking information includes statements about
Applied Graphite Technologies (AGT)'s plans and the completion of the Offering and the amount to
be raised by AGT. Such forward-looking statements reflect management's current beliefs and are
based on assumptions made by and information currently available to AGT, including the assumption
that approvals will be obtained. Investors are cautioned that these forward-looking statements are
neither promises nor guarantees and are subject to risks and uncertainties that may cause future
results to differ materially from those expected. Risk factors that could cause actual results to differ
materially from the results expressed or implied by the forward-looking information include, among
other things, the receipt of TSXV approval of the Offering. AGT cautions the reader that the above
list of risk factors is not exhaustive. Except as required under applicable securities legislation, AGT
undertakes no obligation to publicly update or revise forward-looking information.
SOURCE
Applied Graphite Technologies Corporation
View original content:
http://www.newswire.ca/en/releases/archive/July2025/07/c6793.html
%SEDAR: 00052728E
For further information:
FOR FURTHER INFORMATION PLEASE CONTACT: Don Baxter, Chief
Executive Officer, [email protected],+1 (705) 787-5942, www.appliedgraphite.com
CO: Applied Graphite Technologies Corporation
CNW 20:40e 07-JUL-25