Black Swan Graphene Announces Initiation of Green House Gases Modeling and Decarbonization Strategy

TORONTO, March 2, 2023 /PRNewswire/ - Black Swan Graphene Inc. ("Black Swan" or the "Company") (TSXV: SWAN) (OTCQB: BSWGF) (Frankfurt: R96) is pleased to announce the initiation of a green house gas (GHG) modeling, decarbonization, and net zero strategy project in partnership with Synergy Enterprises, a firm specializing in greenhouse gas accounting and decarbonization, based in Victoria, British Columbia ("Synergy").

As a company that produces a material with potential to decarbonize different sectors of the global economy, notably the concrete and polymers industries, strong environmental, social and governance (ESG) and net zero commitments will naturally be core elements of Black Swan Graphene's positioning. Synergy will model the baseline green house gas emissions of Black Swan's phased development plan in conjunction with the Company's scoping study announced on November 21, 2022. Based on this model, Synergy will also create a decarbonization strategy to bring the company to net zero emissions by 2030. This strategy will include GHG reduction targets, and will identify key sources of emissions to reduce, technology and operational initiatives to achieve reductions, and key performance indicators to monitor. Lastly, Synergy will develop an external ESG strategy for use in stakeholder communications.

Michael Edwards, Chief Operating Officer of Black Swan, commented: "We are pleased to engage with Synergy and be able to leverage their ability to combine our sustainability aspirations with a business centered approach."

Synergy Enterprises ("Synergy") is a corporate sustainability management based in Victoria, BC firm specializing in greenhouse gas accounting, decarbonization strategies and clean technology adoption. As a certified B Corp, Synergy believes that businesses have both a responsibility and an opportunity to lead the climate action movement and champion a better way of doing business that leads to long term value creation for all stakeholders. Synergy's full-service programs help organizations measure their impact, set greenhouse gas (GHG) reduction targets, engage stakeholders, implement solutions, offset emissions, and communicate results.

Black Swan has entered into a 6-month marketing and consulting contract with Toronto based marketing firm, Outside The Box Capital Inc. ("Outside The Box"). Outside The Box specializes in various social media platforms and will be able to facilitate greater awareness and widespread dissemination of the Company's news. Outside The Box operates under the direction of Mr. Jason Coles, Chief Executive Officer. The Company will pay $100,000 to Outside The Box, which does not currently own any shares of the Company.

Black Swan Graphene Inc. is focused on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries, and others, which are expected to require large volumes of graphene. Black Swan aims to leverage the low cost and green hydroelectricity of the province of Québec as well as the proximity of the eventual graphite production sites of the province in order to establish a fully integrated supply chain, reduce overall costs, and accelerate the deployment of graphene usage. Black Swan's graphene processing technology was developed by Thomas Swan & Co. Ltd ("Thomas Swan") over the last decade. Thomas Swan is a United Kingdom-based global chemicals manufacturer, with a century-long track record and has been at the forefront of graphene innovation.

For more information, please visit: www.blackswangraphene.com

Black Swan Graphene Inc. on behalf of the Board of Directors

Simon Marcotte, CFA, President & Chief Executive Office

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

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to the TSXV listing, risk related to the failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with the industry; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in development activities or the completion of feasibility studies; the uncertainty of profitability; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of a scoping and feasibility studies, and the possibility that future results will not be consistent with the Company's expectations; risks related to commodity prices fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.

SOURCE Black Swan Graphene Inc