GMG Provides Projects Team Update

Brisbane, Queensland, Australia--(Newsfile Corp. - January 9, 2023) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to provide an update to the composition of the Company's leadership, technical and projects teams intended to support and accelerate the Company's next phase of development.

GMG believes there are important business opportunities related to GMG's targeted 'energy saving' and 'energy storage' solutions, which continue to provide strong encouragement for the Company to invest resources to drive targeted sales from its energy saving business and support the continued maturation of GMG's graphene-Aluminium Ion battery technology.

To better support and accelerate these opportunities the previously separate Technology and Projects teams will be combined into the Projects Team to better integrate the R&D of graphene production with development of the graphene production plant, the liquid graphene blend plant and the targeted development of the automated battery manufacturing pilot plant. This change is aimed at enhancing opportunities for improvement in process technology and project delivery and accelerate time to market for our future projects.

In connection with this change in team composition, GMG is pleased to announce that Bobby Bran has been promoted to the role of Chief Projects Officer, leading the combined Technology and Projects teams. Bobby has been with GMG for over 4 years most recently as Production Manager and Head of Major Projects. Mr Bran has over 10 years of experience delivering large-scale multi-million dollar civil engineering projects on behalf of several major contractors. Bobby has experience in a diverse range of disciplines with expertise in project leadership and management - including safety in construction.

Jeffrey Morris former Chief Technology Officer has left GMG to pursue other opportunities and the Company thanks him for his tireless efforts over the last two years to progress the automation and development of the graphene production process.

GMG's CEO Craig Nicol stated, "I am very pleased to see Bobby promoted to the role of Chief Projects Officer leading the combined Projects and Technology teams. This new combined team will improve our engineering capability to deliver our future production assets."

GMG's Chair Guy Outen stated, "I congratulate Bobby on his promotion to Chief Projects Officer and look forward to his continuing strong leadership of a talented team to further leverage GMG's technical capabilities to enhance and accelerate our commercial aspirations."

About GMG

GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.

GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.

In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").

For further information, please contact:
- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications, info@fcir.ca, +1 647 689 6041

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

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements relating to the Company's development plans and the Technology and Projects teams combining into the Projects Team.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the effectiveness of Company's deployment of resources, the success of the Company's development plans and the successful combination of the Technology and Projects teams into the Projects Team.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the deployment of the Company's resources and personnel, the accuracy of the Company's expectations in the energy saving and storage space and the successful combination of the Technology and Projects teams into the Projects Team.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/150696