APPLIED GRAPHITE TECHNOLOGIES CORPORATION ANNOUNCES RESUMPTION OF TRADING

VANCOUVER, BC, March 11, 2024 /CNW/ - Applied Graphite Technologies Corporation (formerly Audrey Capital Corporation) AGT, is pleased to announce that it has received final acceptance of the TSX Venture Exchange (the "TSXV") in respect of the Corporation's Qualifying Transaction (as defined in the policies of the TSXV), and will resume trading on the TSXV at market open tomorrow, March 12, 2024 under the symbol "AGT". As indicated in the bulletin issued by the TSXV relating to its acceptance of the Qualifying Transaction, the Corporation will be classified as a Tier 2 mining company.

For further information, please refer to the Corporation's profile on SEDAR+ at www.sedarplus.ca and the Corporation's news release dated March 8, 2024 announcing the completion of its Qualifying Transaction.

Don Baxter, CEO of Applied Graphite, said "We are excited to be the next publicly traded graphite company as the world's OEMs recognize graphite as a critical supply material for the manufacture of lithium-ion batteries.  AGT has an experienced team, not only for graphite, but for battery-ready graphite production. AGT is well positioned to capitalize on the massive demand for battery-ready graphite in the very near term."

Applied Graphite Technologies Corporation owns a 90% ownership interest in C-Tech Ceylon (Private) Limited, a corporation incorporated pursuant to the laws of Sri Lanka, which in turn owns a 100% ownership interest in the Dodangaslanda Graphite Properties in Sri Lanka. The Dodangaslanda Properties are on private land in the heart of the vein graphite district, with historical workings and vein graphite outcrops. Vein graphite is naturally high grade (+95% carbon content in the ground) and does not require primary processing. Testing of vein graphite in lithium-ion battery anodes has shown very high capacities, performing better than synthetic graphite. Natural vein graphite has a far superior ESG footprint than synthetic and is cheaper without compromising performance.

The technical information in this news release has been prepared by Don Baxter, P.Eng., a "qualified person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Corporation does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "scheduled", "estimates", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements with respect to future events or future performance of the Corporation, the Corporation's plans regarding future business and development activities and opportunities, and the trading of its common shares on the TSXV. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Corporation to control or predict, that may cause the Corporation' actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors including, but not limited to: the potential inability of the Corporation to continue as a going concern, risks associated with potential governmental and/or regulatory action with respect to the Corporation operations, and unforeseen risks that may impact the Corporation. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Neither the 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.

SOURCE Applied Graphite Technologies Corporation