Graphano Energy Completes Prospecting Phase at Black Jack Graphite Discovery, Applies to Expand Exploration Area to the West and Announces Private Placement of up to $900,000

Graphano Energy Ltd. (GEL) has completed the prospecting phase at its Black Jack graphite discovery in Quebec, with samples submitted for analysis and results expected within two to four weeks. The company has applied for an additional exploration permit (ATI) to expand the Black Jack exploration area westward and plans to conduct ground geophysics.

This development follows the expiration of the 90-day earn-in memorandum of understanding with 3D Genesis Technologies on October 2, 2026, due to unresolved intellectual property matters. To support ongoing operations, Graphano Energy announced a non-brokered private placement of up to 12,000,000 units at $0.075 per unit, raising up to $900,000 gross. Each unit consists of one common share and one common share purchase warrant exercisable at $0.12 per share for 36 months. Proceeds from the offering are designated for exploration at Black Jack and Black Pearl, including geophysics and drilling, as well as general working capital.

Graphano Energy Ltd. (GEL) announced a private placement that adds 12,000,000 shares and 12,000,000 warrants to its capital structure, issued at a significant discount to recent trading levels. The transaction follows the collapse of the 3D Genesis deal, which had offered a potential high-value technology monetization pathway, thereby forcing the company to return to its core graphite exploration activities.

While the financing was expected given the company’s pre-revenue status and cash burn, the low issue price and high warrant coverage increase the risk of near-term selling pressure. The news is considered incremental and expected, serving primarily to fund ongoing exploration rather than altering the fundamental business trajectory.

Graphano Energy Ltd. (GEL) is a pre-revenue graphite exploration company focused on properties in Quebec's Laurentides region. Its flagship projects include Black Pearl, Black Jack, Lac Aux Bouleaux (LAB), and Standard.

The Black Pearl property features a 6.5 km conductive trend with five priority targets, supported by historical drilling that intersected high-grade graphite, including 11.33% Cg over 8.61m. The LAB and Standard properties hold a filed NI 43-101 resource of 3.22 million tonnes at 7.0% Cg, with metallurgical tests showing greater than 90% recovery.

The company holds a strategic collaboration with Northern Graphite to leverage adjacent processing infrastructure at Lac-des-Iles.