Graphano Announces Warrant Repricing

Executive Summary

• Graphano Energy proposes to amend the exercise price of its 12,334,240 outstanding common share purchase warrants from $0.52 to $0.33 per Share, pending TSX Venture Exchange approval.
• The amendment is intended to reflect current market conditions and would provide additional working capital if the warrants are exercised.
• Andrew Gainsbury has been appointed as acting Chief Financial Officer on an interim basis, replacing James (Jay) Richardson who is temporarily unavailable for medical reasons.

Key Details

• Warrant Amendment: Current exercise price $0.52 per Share (exercisable until August 27 2026); proposed new price $0.33 per Share; all other terms unchanged, including expiry date.
• Purpose of Amendment: Align warrant terms with market conditions and potentially generate working capital upon exercise.
• Warrant Holders: Directors and officers hold ~2.27% of the warrants subject to amendment; no compensation warrants issued to agents, brokers, or finders.
• Regulatory Requirement: Amendment remains subject to acceptance by the TSX Venture Exchange.
• Interim CFO Appointment: Andrew Gainsbury, CFA, CMA, appointed acting CFO; brings 16+ years of financial management experience across Canada and Brazil.
• Previous CFO Status: James (Jay) Richardson stepped away for medical reasons but continues as a director.

Notable Quotes

• “The amendment to the Warrant terms is intended to better reflect current market conditions.” – Luisa Moreno, CEO & Director
• “Mr. Gainsbury replaces James (Jay) Richardson, who has temporarily stepped away from his duties as Chief Financial Officer for medical reasons.” – Company statement