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OTTAWA, ONTARIO July 23, 2021 – Grafoid Inc. (“GRAFOID” or the “Company”), a global leader in the graphene products and applications market, announced today that Grafoid Inc. (the “Acquiror”) on July 21, 2021 acquired 3,437,500 units (the “Units”) of Braille Energy Systems Inc. (the “Corporation”) as part of a non-brokered private placement of up to 7,812,500 Units of the Corporation at a price of $0.32 per Unit (the “Offering Price“) for aggregate gross proceeds to the Company of up to $2,500,000 (the “Transaction“). Each Unit consists of one common share in the capital of the Corporation (a “Common Share“) and one-half of one common share purchase warrant (each whole warrant, a “Warrant“) of the Company. Each whole Warrant shall entitle the holder thereof to purchase one Common Share (a “Warrant Share“) at a price of $0.50 per Warrant Share for a period of 24 months from the date of issue.

Prior to the closing of the Transaction, the Acquiror held 7,336,313 Common Shares (9.82%).  Immediately following the closing of the Transaction, the Acquiror holds 10,773,813 Common Shares (13.31%) and 1,718,750 Warrants. If Acquiror exercised all warrants it would hold an aggregate of 12,492,563 Common Shares (15.11%). 

The Acquiror acquired the Units described in this press release for investment purposes and in accordance with applicable securities laws, the Acquiror may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of the Corporation in the open market or otherwise, and he reserves the right to dispose of any or all of his Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Corporation and other relevant factors. 

A copy of the early warning report to be filed by the Acquiror in connection with the Transaction described above will be available on SEDAR under the Corporation’s profile. This news release is issued under the early warning provisions of the Canadian securities legislation.

Overview of Grafoid Inc.
Founded in 2011, Grafoid Inc. is a graphene research, development and investment company that invests in, manages and develops markets for processes that produce economically scalable graphene for use in graphene development applications by leading corporations and institutions. Grafoid’s leading investment produces application friendly, minimal-defect, high-energy density few layer graphene, utilizing a safe, non-destructive extraction process, leaving the lowest possible ecological footprint. The completely unique, proprietary process results in what Grafoid regards as a new global standard for economically scalable, high-purity graphene products—that can be tailored to both industrial and commercial applications.

Neither 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.

Investor Contacts:
Scott Anderson
Investor Relations
(858) 229-7063

Grafoid Inc.
Judith Mazvihwa-MacLean
(613) 581-4040