GGG:CC - G6 Materials Reports 2023 Annual Financial Results

(TheNewswire)

Revenue Increased by 14% for FiscalYear Ended May 31, 2023, Which Was Offset by a 14% Increase in TotalExpenses for the Same Period

Ronkonkoma, New York, USA -TheNewswire – September 28, 2023 - G6 Materials Corp. (“G6” orthe “Company”) (TSXV:GGG ) ( OTC:GPHBF), ahigh-tech company with expertise in advanced materials and developinginnovative composites for a wide range of industrial uses, announces that it has filed its audited financialresults for the fiscal year ending May 31, 2023, the highlights ofwhich are included in this news release. The full set of ConsolidatedFinancial Statements and Management Discussion and Analysis can beviewed by visiting G6’s website at www.g6-materials.com or its profilepage on SEDAR at www.sedar.com .

Financial Highlights (all amounts expressed in US dollars unless otherwisenoted)

• Revenue for the year ended May 31, 2023 was $1,549,874,up from the $1,357,799, reported for the same period of the prioryear, which was primarily due to a change in sales mix.

• Gross profit for the year ended May 31, 2023 was$196,090, as compared to the $549,253 reported for the same period ofthe prior year, due to higher cost of goods sold from an increase inthe shipping costs.

• Total expenses for the year ended May 31, 2023 was$2,919,198, up from the $2,561,926, reported for the same period ofthe prior year, due to an increase in general and administrativeexpenses, marketing and investor relations, and research anddevelopment expenses.

• Comprehensive loss for the year ended May 31, 2023 was$2,793,447, a significant improvement over the comprehensive loss of$4,938,532 reported for the same period of the prior year, which wasprimarily due to the prior year’s inclusion of the $2,776,756write-down of the value of its investment in GX Technologies.

• Total assets for the year ended May 31, 2023 was$1,441,003, from the $3,761,922 reported for the same period of theprior year.

Management Commentary

“G6’s financial results for the 2023 fiscal yearwere steady and show that the Company is continuing to move in theright direction. I am pleased with the 14% increase in revenue andalso with the significant improvement in comprehensive loss. G6 alsocontinues to operate without any non-current financial liabilities,”said Daniel Stolyarov, President, CTO & Co-CEO of G6 MaterialsCorp. “I would like to thank our employees, shareholders and allother stakeholders for their support in achieving these results. Goingforward, our expectation is that G6’s cost structure will besignificantly improved after the changes that were made at thecorporate level over the last several months,” added Dr. Stolyarov.

Summary of Key Financial Measures (all amounts expressed in US dollars unlessotherwise noted)

The following table contains summary financialinformation taken from the Company’s quarterly financial reportscovering the last five reporting quarters. The information set forthshould be read in conjunction with the Company’s audited annualfinancial statements, prepared in accordance with InternationalFinancial Reporting Standards and the related notes thereon.

Commercial Highlights Subsequent tothe 2023 Fiscal Year

• Launch of New Thermally ConductiveEpoxy Product Line: On August 9, 2023, theCompany announced the launch of a new thermally conductive G6-EPOXY®product line (the “New Product Line”). The first two products ofthe New Product Line are now available for purchase by consumers onthe G6-EPOXY® website via the following link: https://g6-epoxy.com/collections/thermally-conductive and on the Graphene Supermarket website via the followinglink: https://www.graphene-supermarket.com/collections/thermally-conductive

Outlook

Subsequent to the 2023 fiscal year, the Company isfocused on improving its working capital position by increasing salesof its new epoxy product line and its Breathe + line of airpurifiers, as well as through other means. G6 is also focused onevolving its strategic partnership with Singapore-based MADE AdvancedMaterials PTE LTD (“MADE”), which possesses an expertise in fibercomposites. MADE’s role in the strategy partnership is to providecustomers, optimized designs and an optimized composite manufacturingprocess, while G6’s role is to provide graphene-based resinformulations and other graphene-based expertise.

About G6 Materials Corp.

G6 Materials Corp. is a high-tech company withexpertise in advanced materials that creates value developinginnovative composites for a wide range of industrial uses. GrapheneLaboratories Inc., a wholly owned subsidiary of G6, sells a range ofgraphene-based products and other materials, including but not limitedto conductive epoxies, high-performance composites, and R&Dmaterials, with numerous customers from among the Fortune 500 list ofcompanies, as well as NASA and leading universities. GrapheneLaboratories Inc. has entered the global air filtration market withBreathe + , a line of medical-grade HEPA air filtration productsenhanced with advanced performance graphene material.

G6 has identified new graphene-based applications toaccelerate growth into the future. Accordingly, the Company has avaluable IP portfolio currently comprising five granted patents. TheCompany’s management team and employees have a deep understanding ofgraphene technology based on decades of aggregate academic andcommercial experience. Graphene Laboratories Inc., a wholly ownedsubsidiary of G6 located in Ronkonkoma, New York, has established itspremium research laboratory and scalable production facility equippedwith advanced analytical and material processing equipment.

The Company’s e-commerce websites are listedbelow:

• Breathe : Medical-grade HEPA airfiltration enhanced with advanced performance graphene material, formore information, visit www.breatheplus.tech

• Conductive Epoxies: Adhesive materials distributedunder the G6-Epoxy TM trade name and can be purchasedat www.g6-epoxy.com

• D Materials: Graphene Laboratories Inc. currentlyoffers over 100 graphene and related products available at www.graphene-supermarket.com

Forward-Looking Information

This news release contains forward-looking statementswithin the meaning of the applicable securities legislation that isbased on expectations, estimates and projections as at the date ofthis news release. By their nature, forward-looking statements involveknown and unknown risks, uncertainties and other factors which maycause actual results, performance or achievements, or other futureevents, to be materially different from any future results,performance or achievements expressed or implied by suchforward-looking statements. “Forward-looking information” in thisnews release includes but is not limited to information about thegraphene-enhanced air purifier (including efficacy, potentialcommercialization and patent pending thereof); information about thepotential for the Company’s long-term growth; the business goals andobjectives of the Company, and other forward-looking informationconcerning the intentions, plans and future actions of the parties tothe transactions described herein and the terms thereon.

The forward-looking information in this news releasereflects the current expectations, assumptions and/or beliefs of theCompany based on information currently available to the Company.Although the Company believes that the assumptions inherent in theforward-looking information are reasonable, forward-lookinginformation is not a guarantee of future performance and accordinglyundue reliance should not be put on such information due to theinherent uncertainty therein.

Risk factors that could cause actual results to differmaterially include, but are not limited to, the risk that actualresults in commercial applications of the graphene-enhanced airpurifier may differ significantly from the Test Results; the TestResults may not be accepted by applicable regulatory agencies requiredto approve commercialization of the graphene-enhanced air purifier;the Company may not receive required approvals from regulatoryagencies to commercialize the graphene-enhanced air purifier; theCompany may not achieve further stages of commercialization of thegraphene-enhanced air purifier as anticipated, or at all; the Companypatent pending (US20210346831A1) may not be granted; the Company maynot achieve anticipated commercial gains or profitability from thesale of Breathe + Pro AdvancedAntimicrobial Graphene Air Filtration System as currently anticipated,or at all; risks associated with adoption by industries ofgraphene-based products health and environmental factors affectingadoption of these technologies; the company may fail to obtainappropriate government approvals or accreditation related to thebusiness’ operations and technological processes; the marketconditions and demand for its product as well as the market prices ofsuch products being developed by the company may change over time;reliance on key personnel; the potential for conflicts of interestamong certain officers, directors or promoters with certain otherprojects; competition; dilution; and the volatility of our commonshare price and volume.

The Company undertakes no obligation to revise orupdate any forward-looking information other than as required by law.

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.

Commercial Inquiries

Daniel Stolyarov, President, CTO & Co-CEO

Telephone: (631) 405-5113

Email: info@g6-materials.com

Investor Inquiries

Nick Kuzyk, Investor Relations

Telephone: 1-(866)-324-4244

Email: investors@g6-materials.com

ON BEHALF OF THE BOARD:  Daniel Stolyarov, President,CTO & Co-CEO

For more information on G6 Materials Corp., pleasevisit www.G6-Materials.com or its profile page on SEDAR at www.sedar.com .

SOURCE: G6 Materials Corp.

Copyright (c) 2023 TheNewswire - All rights reserved.