Applied Graphite Technologies Corporation (TSXV: AGT) has completed the first tranche of its private placement, raising approximately C$464,000 to support the development of its Queens Mine Complex (QMC) in Sri Lanka. The funds will be directed toward project development and working capital, as the company continues to advance one of the world’s few natural vein graphite projects with battery-grade potential.

Applied Graphite Technologies Corporation ("AGT"), (TSXV: AGT) announces that it has completed the first tranche of a non-brokered private placement offering (the "Offering") of 7,733,334 common shares ("Common Shares") at a price of Cdn$0.06 per share for gross proceeds of approximately Cdn$464,000.

Existing insiders of AGT participated in the Offering. Participation by insiders of AGT in the Offering constituted a related-party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance of securities is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 on the basis that the fair market value of the insiders' participation in the Offering, as determined in accordance with MI 61-101, did not exceed 25% of the Company's market capitalization.

All securities issued are subject to a four-month hold period under applicable securities laws in Canada, which expires on November 22, 2025.

The net proceeds of the Offering will be used by AGT for project development and general working capital purposes.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.