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Cuspis Capital Ltd. Announces Completion of Graphene Manufacturing Group Pty Ltd. Financing

Cuspis Capital Ltd.

Toronto, Ontario – TheNewswire - November 4, 2020 - Cuspis Capital Ltd. (TSXV:CUSP.P) ("Cuspis" or the "Corporation"), a capital pool company as defined under TSX Venture Exchange ("TSXV" or the "Exchange") Policy 2.4 - Capital Pool Companies ("Policy 2.4"), is pleased to provide an update to its press releases of August 19, 2020 and August 31, 2020, regarding its transaction with Graphene Manufacturing Group Pty Ltd. ("GMG"), a private company incorporated under the laws of Australiathe intended target of Cuspis' Qualifying Transaction, as such term is defined in Policy 2.4 (the “Transaction”).


Cuspis has been informed that GMG’s non-brokered private placement (the "Financing") of ordinary shares of GMG ("Shares") at a price of AUS $12.50 per Share, was oversubscribed, and consequently GMG has closed on the maximum financing of AUS $1,726,025, as contemplated in the Letter of Intent entered into between GMG and Cuspis on August 17, 2020.  The successful completion of the financing has resulted in the issuance by GMG of 138,082 Shares to investors and 21,593 Shares to its financial advisors.


Further Information

Completion of the Transaction remains subject to a number of conditions, including but not limited to, the filing of disclosure documents, regulatory approval and shareholder approval. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in disclosure documents to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.


The TSXV has in no way passed upon the merits of the Transaction, and has neither approved nor disapproved the contents of this press release.


For further information:


William Ollerhead
Cuspis Capital Ltd.

Tel. (416) 214-4810


Neither 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.