Plaid Technologies Provides Clarifying Disclosure

Executive Summary

• Plaid Technologies Inc. issued a clarification regarding its graphite and graphene technology, intellectual property status, and supply chain plans following a review by the British Columbia Securities Commission (BCSC).
• The company clarified that its referenced Italian patent application relates to "expanded graphite," not graphene, and that it is not the original applicant; the transfer of this patent from Attimar S.A. (via Future Investments Holding OU) is currently underway but subject to risk.
• The company disclosed its internal know-how for converting expanded graphite to graphene and dispersing it in cement, while noting that current graphene inventory is sufficient for approximately 18 months.

Key Details

• Patent Application Clarification: The Italian patent application #102023000020769 relates to the production of expanded graphite, which is distinct from graphene.
• Original Applicant Status: Attimar S.A. was the original patent applicant. The Company is not the original applicant, and the process of transferring the patent application to Plaid Technologies is underway.
• Graphene Conversion Technology: The Company, through management and Mr. Michael Turner, possesses independent know-how and expertise to produce graphene from expanded graphite.
• Graphene Dispersion Technology: The Company possesses independent know-how and expertise for the uniform dispersion of graphene in cement to improve performance.
• Inventory and Supply Plan: Current graphene inventory is expected to support operations for approximately 18 months based on present assumptions.
• Future Supply Strategy: Upon inventory depletion, the Company will evaluate purchasing additional graphene on the market or producing it using its Expanded Graphite and Graphene Conversion Technologies.
• Patent Transfer Risk: The transfer of the patent application is conditional. Attimar sold the application to Future Investments Holding OU (FIHO), who sold it to Plaid. FIHO issued a promissory note to Attimar which remains outstanding. There is a risk that Attimar may not transfer the patent unless this note is paid in full, with no assurance of payment or successful transfer.
• Impact of Non-Transfer: If the patent is not transferred, the Company will rely on existing inventory, internal conversion technology, or market purchases, which could affect the timing, cost, and availability of future graphene supply.

Notable Quotes

• "As a result of a review by the British Columbia Securities Commission ("BCSC "), Plaid Technologies Inc. (CSE:STIF) (OTC Pink: VEJIF) ("Plaid " or the "Company ") is issuing this news release to clarify prior disclosure regarding its graphite/graphene technology, related intellectual property and supply plans." - Guy Bourgeois, Director & Chief Executive Officer