Mr. Craig Nicol reports

GMG CLOSES US$10 MILLION PRIVATE PLACEMENT

Graphene Manufacturing Group Ltd. has closed its previously announced non-brokered private placement with a private investor, pursuant to which the subscriber has subscribed for 6,465,336 ordinary shares of the company at a price of $2.15 per ordinary share for total gross proceeds to the company of approximately $10-million (U.S.). The private placement has received conditional approval from the TSX Venture Exchange.

The company intends to use the net proceeds of the private placement for the scale-up of graphene production and liquid graphene production capacity, scale-up of battery cell production capacity, commercialization of liquid graphene products, working capital, and general corporate purposes.

No finders' fees or commissions were paid in connection with the private placement.

The ordinary shares issued under the private placement are also subject to on-sale restrictions in Australia for a period of 12 months from the date of issue.

About Graphene Manufacturing Group Ltd.

Graphene Manufacturing is an Australian-based clean-technology company which develops, makes and sells energy saving and energy storage solutions, enabled by graphene manufactured through in-house production process. Graphene Manufacturing uses its own proprietary production process to decompose natural gas (that is, methane) into its natural elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high-quality, low-cost, scalable, tunable and low/no-contaminant graphene suitable for use in clean-technology and other applications.

The company's present focus is to derisk and develop commercial scale-up capabilities and secure market applications. In the energy savings segment, Graphene Manufacturing has initially focused on graphene enhanced heating, ventilation and air conditioning coating (or energy-saving coating), which is being marketed into other applications including electronic heat sinks, industrial process plants and data centres. Another product Graphene Manufacturing has developed is the graphene lubricant additive focused on saving liquid fuels initially for diesel engines.

In the energy storage segment, Graphene Manufacturing is working with financial support from the Australian government to progress research and development and commercialization of graphene ion batteries. Graphene Manufacturing has also developed a graphene additive slurry that is aimed at improving the performance of lithium-ion batteries.

Graphene Manufacturing's four critical business objectives are:

1. Produce graphene and improve/scale cell production processes;
2. Build revenue from energy savings products;
3. Develop next-generation battery;
4. Develop supply chain, partners and project execution capability.

We seek Safe Harbor.