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Ronkonkoma, New York, USA – TheNewswire – November 20, 2024 – G6 Materials Corp. (“G6” or the “Company”) (TSXV: GGG, OTCQB: GPHBF), announces it will cease all revenue generating activities due to legal hardships, an inability to raise capital, insolvency issues and an impending failure to file cease trade order (the “FFCTO”) to be issued by the British Columbia Securities Commission (the “BCSC”).
On October 2, 2024, the Company announced that it had been issued a management cease trade order (the “MCTO”) by the BCSC, as it had determined that it would not be in a position to file its audited annual financial statements and accompanying management’s discussion and analysis, with related CEO and CFO certificates, for the financial year ended May 31, 2024 (the “Annual Filings”) by the filing deadline prescribed by Part 4 of National Instrument 51-102 Continuous Disclosure Obligations. At the time of issuance of the MCTO, the Company expected that it would be able to file the Annual Filings on or before December 1, 2024 and rectify certain legal issues facing the Company.
The FFCTO will prohibit the trading by any person of any securities of the Company in each jurisdiction in Canada in which the Company is a reporting issuer, including trades in the Company’s securities made through the TSX Venture Exchange (TSX-V), for as long as the FFCTO remains in effect.
The FFCTO provides an exception for beneficial securityholders of the Company who are not currently (and who were not as of the date of issuance of the FFCTO) insiders or control persons of the Company and who sell securities of the Company acquired before the issuance of the FFCTO, if both of the following criteria are met: (i) the sale is made through a “foreign organized regulated market”, as defined in section 1.1 of the Universal Market Integrity Rules of the Canadian Investment Regulatory Organization; and (ii) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.
The Company will cease operations at its Ronkonkoma, NY facility following an eviction notice from the landlord due to significant unpaid rent.
The Company maintains the Graphene Supermarket and Breathe Plus digital assets and will look to develop opportunities within these avenues for revenue generation. The Company is currently assessing its situation to determine the next steps.
The Company continues its efforts to litigate against the lawsuit initiated by Daniel Stolyarov and Elena Polyakova, as announced on September 6, 2024. The Company denies all allegations in the lawsuit and has filed counterclaims against the plaintiffs.
The Company expects the issuance of the FFCTO this week, along with the suspension of trading on the TSX-V and its subsequent transfer to the NEX.
The Company confirms that it currently has, and will continue to maintain, a minimum of three Directors. Its transfer agent remains in good standing, and the Company will continue to is all material information updates through press releases as required, ensuring that all disclosure requirements under Exchange Policy will be met.
About G6 Materials Corp.
G6 Materials Corp. is a high-tech Company with expertise in advanced materials that creates value developing innovative composites for a wide range of industrial uses. Graphene Laboratories Inc., a wholly owned subsidiary of G6, sells a range of graphene-based products and other materials, including but not limited to conductive epoxies, high-performance composites, and R&D materials, with numerous customers from among the Fortune 500 list of companies, as well as NASA and leading universities. Graphene Laboratories Inc. has entered the global air filtration market with Breathe+, a line of medical-grade HEPA air filtration products enhanced with advanced performance graphene material.
G6 has identified new graphene-based applications to accelerate growth into the future. Accordingly, the Company has a valuable IP portfolio currently comprising seven granted patents. The Company’s management team and employees have a deep understanding of graphene technology based on decades of aggregate academic and commercial experience. Graphene Laboratories Inc. has established its premium research laboratory and scalable production facility equipped with advanced analytical and material processing equipment.
The Company’s e-commerce websites are listed below:
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Breathe: Medical-grade HEPA air filtration enhanced with advanced performance graphene material, for more information, visitwww.breatheplus.tech
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Conductive Epoxies: Adhesive materials distributed under the G6-Epoxy trade name and can be purchased at www.g6-epoxy.com
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D Materials: Graphene Laboratories Inc. currently offers over 100 graphene and related products available atwww.graphene-supermarket.com
Forward-Looking Information
This news release contains forward-looking statements within the meaning of the applicable securities legislation that is based on expectations, estimates and projections as at the date of this news release. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. “Forward-looking information” in this news release includes but is not limited to statements regarding the issuance of the FFCTO, the contents of these orders, management’s plans regarding its businesses on a go-forward basis, the outcome of the lawsuit against the Company and the results of a counter claim, information about the graphene-enhanced air purifier (including efficacy, potential commercialization and patent pending thereof); the business goals and objectives of the Company, and other forward-looking information concerning the intentions, plans and future actions of the parties described herein.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Risk factors that could cause actual results to differ materially include, but are not limited to, the actual results in commercial applications of the Company’s graphene-enhanced air purifier may differ significantly from its test results; health and environmental factors affecting the adoption of the Company’s graphene-based technologies or other products; the Company may fail to obtain appropriate government approvals or accreditation related to the business’ operations and technological processes; the market conditions and demand for its product as well as the market prices of such products being developed by the Company may change over time; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; competition; dilution; and the volatility of our common share price and volume.
The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
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.
Corporate Inquiries
Guy Bourgeois, President & Chief Executive Officer
Telephone: (516) 382-8649
Email: [email protected]
Commercial Inquiries
Email: [email protected]
Investor Inquiries
Telephone: 1-(866)-324-4244
Email: [email protected]
ON BEHALF OF THE BOARD: Gary Dyal, Chairman
For more information on G6 Materials Corp., please visit www.G6-Materials.com or its profile page on SEDAR+ at www.sedarplus.ca.
SOURCE: G6 Materials Corp.
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