Event marketing

Ceylon Graphite Announces Marketing Agreement

Vancouver, May 26, 2022 (GLOBE NEWSWIRE) — Ceylon Graphite Corporation. (“the Company” or “Ceylon Graphite”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) is pleased to announce a renewal with North Equities Corp. of Ontario, Canada, to provide social media and capital markets advisory services to the Company, subject to the approval of the TSX Venture Exchange (the “TSX-V”).

North Equities will provide marketing services to communicate information about the Company to the financial community (“Marketing Services”), including, but not limited to:

  • Schedule content to be posted on the company-owned YouTube channel, to be delivered to the company every two weeks.
  • Work alongside the Ceylon Graphite team to establish a project ambassador to interact with the financial community and engage with investors. Thought leadership is a proven way to find new customers for Ceylon Graphite products.
  • Participate in campaigns on social networks and other community media, with the aim of strengthening the reputation of the company and the commitment of investors.
  • Distribute company information and announcements to new communities in hopes of attracting new customers, investors and other interested parties.
  • Post about Ceylon Graphite on North Equities-owned channels, such as Twitter.
  • Feature the company in different influencer-based videos, to drive more engagement with the company story.

The agreement with North Equities is for 12 months, for which they will receive a fee of $150,000, payable in two instalments. The Company will also grant North Equities 1 million options, each option exercisable into one common share of the Company at a price of $0.16, vesting over a period of one year in equal installments every three months and expiring on May 23, 2023. North Equities currently beneficially owns zero common shares of the Company.

“We are delighted to be working with North Equities, who are also shareholders in the company, to expand our exposure over the next year across various social media and marketing platforms and communicate this exciting story to a much wider audience,” said said Don Baxter, CEO of Ceylon Graphite.

About Ceylon Graphite Corp.

Ceylon Graphite is a public company listed on the TSX Venture Exchange, which operates in the mining of graphite and in the development and commercialization of innovative graphene and graphite products and applications. Graphite mined in Sri Lanka is known to be among the highest in the world and has been confirmed to be suitable to be easily scalable for a range of applications including the high growth markets of electric vehicles and battery storage as well as construction, healthcare health and paints and coaactivity area. The Government of Sri Lanka has granted the Company’s wholly owned subsidiary, Sarcon Development (Pvt) Ltd., a Category A IML license for its K1 mine and exploration rights to a land package of over 120 km². These exploration grids (each square kilometer) cover the historical graphite production areas since the beginning of the 20th century and represent a majority of known occurrences of graphite in Sri Lanka.

Further information about the Company is available at www.ceylongraphite.com

Don Baxter, General Manager

[email protected]

Business communication

+1(604) 765 8657

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS:

This press release contains forward-looking information as that term is defined in applicable securities laws, which relateconsider future events or future performance and reflect management’s current expectations and assumptions. Forward-looking information includes statements about: investor relations activities (as that term is defined in the policies of the Exchange) to be made by North Equities and the anticipated approval of the TSX Venture Exchange for such activities, the potential commercial purposes of the graphite mined in Sri Lanka and the grade of the Company’s graphite assets located in Sri Lanka. Such a fore-looking’s statements reflect the current beliefs of management and are based on assumptions made by and information currently available to Ceylon Graphite, including the assumption that there will be no material adverse change in metal prices, all necessary consentss, licenses, permits and approvals will be obtained, including various local government and market licenses. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties.may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among others, the inability to obtainn or delays in obtaining required licenses, permits, regulatory approvals and consents, inability to access necessary financing, general economic downturn, volatile stock price, strikes, political unrest, changes in mining regulations governing Ceylon Graphite, a failure to comply with environmental regulations and a weakening of market and industry dependence on high quality graphite. Ceylon cautions the reader that the above list of risk factors is not exhaustive.