Grafoid, Inc.: Grafoid Provides Update to Proposed Reverse Takeover Transaction with Stria Lithium Inc.

OTTAWA, ON / ACCESSWIRE / March 17, 2021 / Grafoid Inc. ("GRAFOID" or the "Company"), a global leader in the graphene products and applications market, and Stria Lithium Inc. (SRA) announced today that they have agreed to terminate the letter of intent dated September 24, 2020 which contemplated a reverse takeover transaction of Stria by Grafoid. Due to matters beyond the reasonable control of Stria and Grafoid, due diligence was unable to be completed and therefore the parties have agreed to terminate the letter of intent.

Overview of Grafoid Inc.

Founded in 2011, Grafoid Inc. is a graphene research, development and investment company that invests in, manages and develops markets for processes that produce economically scalable graphene for use in graphene development applications by leading corporations and institutions. Grafoid's leading investment produces application friendly, minimal-defect, high-energy density few layer graphene, utilizing a safe, non-destructive extraction process, leaving the lowest possible ecological footprint. The completely unique, proprietary process results in what Grafoid regards as a new global standard for economically scalable, high-purity graphene products-that can be tailored to both industrial and commercial applications.

For more information about Grafoid, please visit www.grafoid.com.

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

Investor Contacts:

Scott Anderson
Investor Relations
[phone]
[e-mail]

Grafoid Inc.
Judith Mazvihwa-MacLean
CFO
[phone]
[e-mail]

SOURCE: Grafoid Inc.

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