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“I am very pleased with this acquisition and welcome the Canuck team to the NanoXplore family,” said Dr. Soroush Nazarpour, CEO of NanoXplore. “This acquisition is strategically aligned with our growth initiatives and significantly increases our graphene compounding capability, particularly in recycled plastics, and will allow us to form strategic partnerships with end customers. Additionally, Canuck has a strong relationship with suppliers of recycled plastics that ensures a good and reliable supply of post-consumer and post-industrial recycled plastics.This transaction will strengthen our technical expertise in recycled plastic compounds and strengthen our revenue by approximately $20 million per year, without taking into account the revenues derived from the inclusion of graphene.

NanoXplore paid $7.3 million in cash upon closing of the transaction, while $1 million in cash will be paid in one year and another $1 million will be paid in two years. Following the transaction, William Dickinson, CEO and Founder of Canuck, will continue to serve as Managing Director, alongside approximately 40 employees.

“We are delighted to partner with NanoXplore, given the inherent technological and cultural fit between the two companies,” said Dickinson. “NanoXplore’s graphene is highly complementary to our recycled plastic compounds to create innovative solutions such as enhanced blends and masterbatches, while both management teams are dedicated to delivering best-in-class products across many growing industries.

As demonstrated by the acquisition of Canuck, NanoXplore seeks to expand its downstream value-added product offering through masterbatches and enhanced compounds, anode and cathode pastes, battery materials for market for Li-ion batteries, formulated thermosetting resins and cement admixtures.

“This business expansion positions NanoXplore not only as a global leader in graphene, but also as a provider of off-the-shelf graphene-enriched solutions,” added Dr. Nazarpour. “These value-added formulations support the company’s long-term profitability and provide a competitive advantage over other graphene producers in the future. We anticipate that such business expansion will be achieved through a combination of acquisitions and partnerships.

Financial orientation

“For fiscal year 2022 ending June 30, 2022, we expect annual revenue of approximately $85 million,” said Luc Veilleux, chief financial officer of NanoXplore. “We expect second quarter revenues to be in line with the first quarter of fiscal 2022, followed by gradual growth in the third and fourth quarters due to the acquisition of Canuck and the improved outlook provided by customers. . We also expect to achieve positive EBITDA (1) in the fourth quarter of 2022.”

About NanoXplore

NanoXplore is a graphene company, manufacturer and supplier of high volume graphene powder for industrial markets. The Company provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics and other industrial sectors. NanoXplore is headquartered in Montreal, Quebec, with manufacturing facilities in Canada, the United States and Europe.

Forward-looking statements

This press release contains forward-looking statements, including, but not limited to, statements relating to expected future revenues and expected EBITDA. All forward-looking statements are based on our beliefs as well as assumptions based on information available at the time the assumption was made and on management’s experience and perception of historical trends, current conditions and future developments. expected, and other factors deemed appropriate in the circumstances. No assurance can be given that these assumptions and expectations will prove to be correct. Forward-looking statements are not facts, but only predictions and can generally be identified by the use of statements that include expressions such as “anticipate”, “believe”, “continue”, “could”, “estimate” , “expect”, “grow”, “expect”, “plan”, “intend”, “forecast“, “future”, “direction”, “may”, “predict”, “project” , “should”, “strategy”, “target”, “will”, or similar expressions suggesting future outcomes.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Such forward-looking information necessarily involves known and unknown risks and uncertainties (including some of the factors discussed in the company’s annual information form and other public documents filed for the end of its most recent fiscal year which can be viewed at www. sedar.com) which may cause NanoXplore’s actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. All forward-looking information is made as of the date hereof and, except as required by law, NanoXplore undertakes no obligation to publicly update or revise such information to reflect new information, whether subsequent or not.

(1) Non-IFRS measures

EBITDA is net profit (loss) before interest expense, income taxes, depreciation and amortization. We use EBITDA because we believe it is a meaningful measure of the operating performance of our day-to-day business without the effects of certain expenses. The definition of this non-IFRS measure used by the Company may differ from that used by other companies.

For more information please contact:

Soroush Nazarpour
President and CEO
NanoXplore Inc.
[email protected]
(514) 935-1377

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