G6 Materials : 2024 Third Quarter Report

N E W S R E L E A S E

G6 Materials Reports Financial Results for the Third

Fiscal Quarter of 2024

Ronkonkoma, New York, USA - The Newswire - April 29, 2024 - G6 Materials Corp. ("G6" or the "Company") (TSXV: GGG, OTCQB: GPHBF), a high-techcompany with expertise in advanced materials and developing innovative composites for a wide range of industrial uses, is pleased to announce that it has filed its unaudited financial results for the third quarter of the fiscal year ending February 29, 2024, the highlights of which are included in this news release. The full set of Condensed Interim Consolidated Financial Statements and Management Discussion and Analysis can be viewed by visiting G6's website athttps://g6-materials.com/or its profile page on SEDAR+ atwww.sedarplus.ca.

Financial Highlights (all amounts expressed in US dollars unless otherwise noted)

• Revenue for the three-month period ended February 29, 2024 was $222,273, a decrease from the $370,646 reported for the same three -month period last year, due to a change in product sales mix.
• Gross profit for the three -month period ended February 29, 2024 was $98,347, a decrease from the $176,318 reported for the same three-month period last year, due to a relative decrease in revenue on a year-over year basis.
• Total expenses for the three-month period ended February 29, 2024 was $247,501, a significant improvement from the $622,844 reported for the same three-month period last year, primarily due to a large decrease in general and administrative expenses.
• Net loss for the three-month period ended February 29, 2024 was $149,154, a significant improvement to the net loss of $446,526 reported for the same three -month period last year, as the Company continued with reduced expenditures to preserve cash.
• Total assets for the period ended February 29, 2024 were $964,247, from $1,441,003 reported for the annual period ended May 31, 2023.

About G6 Materials Corp.

G6 Materials Corp. is a high-tech company with expertise in advanced materials that creates value developing innovative composites for a wide range of industrial uses. Graphene Laboratories Inc., a wholly owned subsidiary of G6, sells a range of graphene- based products and other materials, including but not limited to conductive epoxies, high- performance composites, and R&D materials, with numerous customers from among the Fortune 500 list of companies, as well as NASA and leading universities. Graphene Laboratories Inc. has entered the global air filtration market with Breathe+, a line of medical-grade HEPA air filtration products enhanced with advanced performance graphene material.

G6 has identified new graphene-based applications to accelerate growth into the future. Accordingly, the Company has a valuable IP portfolio currently comprising seven granted patents. The Company's management team and employees have a deep understanding of graphene technology based on decades of aggregate academic and commercial experience. Graphene Laboratories Inc. has established its premium research laboratory and scalable production facility equipped with advanced analytical and material processing equipment.

The Company's e-commerce websites are listed below:

• Breathe+: Medical-grade HEPA air filtration enhanced with advanced performance graphene material, for more information, visit www.breatheplus.tech
• Conductive Epoxies: Adhesive materials distributed under the G6-Epoxy® trade name and can be purchased at www.g6-epoxy.com
• R&D Materials: Graphene Laboratories Inc. currently offers over 100 graphene and related products available atwww.graphene-supermarket.com

Forward-Looking Information

This news release contains forward-looking statements within the meaning of the applicable securities legislation that is based on expectations, estimates and projections as at the date of this news release. By their nature, forward-looking statements involve

known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. "Forward-looking information" in this news release includes but is not limited to information about the graphene-enhanced air purifier (including efficacy, potential commercialization and patent pending thereof); information about the potential for the Company's long-term growth; the business goals and objectives of the Company, and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

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

Risk factors that could cause actual results to differ materially include, but are not limited to, the actual results in commercial applications of the Company's graphene-enhanced air purifier may differ significantly from its test results; health and environmental factors affecting the adoption of the Company's graphene-based technologies or other products; the Company may fail to obtain appropriate government approvals or accreditation related to the business' operations and technological processes; the market conditions and demand for its product as well as the market prices of such products being developed by the Company may change over time; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; competition; dilution; and the volatility of our common share price and volume.

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

Neither 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.

Corporate Inquiries

Guy Bourgeois, President & Chief Executive Officer

Telephone: [phone]

Email:[e-mail]

Commercial Inquiries

Email:[e-mail]

Investor Inquiries

Telephone: [phone]

Email:[e-mail]

ON BEHALF OF THE BOARD: Gary Dyal, Chairman

For more information on G6 Materials Corp., please visit www.G6-Materials.comor its profile page on SEDAR+ at www.sedarplus.ca.

SOURCE: G6 Materials Corp.

G6 MATERIALS CORP.

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED FEBRUARY 29, 2024 AND FEBRUARY 28, 2023 (Unaudited - Expressed in US Dollars)

NOTICE TO READER

Under National Instrument 51-102, Part 4, subsection 4.3 (3) (a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.

The accompanying unaudited condensed interim consolidated financial statements of G6 Materials Corp. ("Corporation") have been prepared by and are the responsibility of the Corporation's management.

The Corporation's independent auditor has not performed a review of these unaudited condensed interim consolidated financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity's independent auditor.

The accompanying notes are an integral part of these condensed interim consolidated financial statements

G6 MATERIALS CORP.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Expressed in US Dollars)

		February 29,	May 31,
		2024	2023
As at,	Notes	(Unaudited)	(Audited)
ASSETS		$	$
Current
Cash and cash equivalents		19,862	390,440
Accounts receivable and other	5	32,681	55,270
Inventory	6	391,920	574,326
Prepaid expenses and deposits	15	66,497	118,588
		510,960	1,138,624
Equipment	8	94,081	111,587
Right-of-use asset	7	261,034	59,890
Intangible assets	4	98,172	130,902
Total assets		964,247	1,441,003
LIABILITIES
Current
Accounts payable and accrued liabilities	10	629,481	408,910
Loan payable	9	37,270	-
Current portion of lease liability	7	81,140	60,635
		747,891	469,545
Lease liability	7	182,827	-
Total liabilities		930,718	469,545
SHAREHOLDERS' EQUITY
Share capital	11	16,487,601	16,487,601
Contributed surplus		3,676,739	3,593,663
Accumulated other comprehensive loss		(172,334)	(164,383)
Deficit		(19,958,477)	(18,945,423)
Total shareholders' equity		33,529	971,458
Total liabilities and shareholders' equity		964,247	1,441,003

Going Concern (Note 1)

Subsequent Events (Note 18)

Approved on behalf of the Board of Directors on April 29, 2024:

"Guy Bourgeois"	Director	"John Gary Dyal"	Director
Guy Bourgeois		John Gary Dyal

3

The accompanying notes are an integral part of these unaudited condensed interim consolidated financial statements

G6 MATERIALS CORP.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS FOR THE NINE MONTH PERIOD ENDED FEBRUARY 29, 2024 AND FEBRUARY 28, 2023 (Unaudited - Expressed in US Dollars)

		Three	Three	Nine	Nine
		months	months	months	months
		February 29,	February 28,	February 29,	February 28,
	Notes	2024	2023	2024	2023
REVENUE		$	$	$	$
	222,273	370,646	841,202	1,219,573
COST OF GOODS SOLD		(123,926)	(194,328)	(664,537)	(708,854)
		$ 98,347	$ 176,318	$ 176,665	$ 510,719
EXPENSES (Note 17)
Depreciation and amortization	4,7,8	42,215	52,056	129,830	186,235
Foreign exchange loss		38	81	220	252
Marketing and investor relations		7,874	81,074	122,805	260,845
General and administrative expenses	17	171,233	457,821	849,805	1,897,671
Research and development		26,141	31,812	87,059	172,015
		$ (247,501)	$ (622,844)	$ (1,189,719)	$ (2,517,018)
NET LOSS		$ (149,154)	$ (446,526)	$ (1,013,054)	$ (2,006,299)
OTHER COMPREHENSIVE LOSS
Items that may be reclassified subsequently to loss:
Foreign currency translation loss		(225)	(518)	(7,951)	(64,308)
LOSS AND COMPREHENSIVE LOSS		$ (149,379)	$ (447,044)	$ (1,021,005)	$ (2,070,607)
LOSS PER SHARE - BASIC AND DILUTED		$ (0.01)	$ (0.03)	$ (0.06)	$ (0.13)
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING		16,367,919	16,367,919	16,367,919	16,367,919

4

The accompanying notes are an integral part of these unaudited condensed interim consolidated financial statements

G6 MATERIALS CORP.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE NINE MONTH PERIOD ENDED FEBRUARY 29, 2024 AND FEBRUARY 28, 2023 (Unaudited - Expressed in US Dollars)

		February 29,	February 28,
	Notes	2024	2023
OPERATING ACTIVITIES		$	$
Net loss		(1,013,054)	(2,006,299)
Non-cash items:
Lease interest	7	7,289	2,604
Amortization of intangible asset	4	32,730	32,730
Amortization of right-of-use asset	7	75,245	129,311
Depreciation of equipment	8	21,855	24,194
Share-based compensation	11	83,076	172,479
Foreign exchange loss		220	252
		(792,639)	(1,644,729)
Changes in non-cash working capital items:
Accounts receivable		22,589	13,652
Inventory		182,406	247,897
Prepaid expenses and deposits		52,091	103,687
Accounts payable and accrued liabilities		220,571	20,311
Cash used in operating activities		(314,982)	(1,259,182)
INVESTING ACTIVITIES
Purchase of equipment	8	(4,349)	(28,000)
Cash used in investing activities		(4,349)	(28,000)
FINANCING ACTIVITIES
Loan payable	9	37,270	-
Principal payments on lease	7	(80,346)	(132,888)
Cash used in financing activities		(43,076)	(132,888)
Change in cash and cash equivalents		(362,407)	(1,420,070)
Effect of exchange rate changes on cash		(8,171)	(64,560)
Cash and cash equivalents, beginning		390,440	2,119,429
Cash and cash equivalents, ending		19,862	634,799

5

The accompanying notes are an integral part of these unaudited condensed interim consolidated financial statements

G6 MATERIALS CORP.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE PERIOD ENDED FEBRUARY 29, 2024 and FEBRUARY 28, 2023 (Unaudited - Expressed in US Dollars)

								Accumulated Other
							Contributed	Comprehensive
			Common Shares	Warrants Reserve	Surplus	Loss	Deficit	Total
		Notes	#	$	#	$	$	$	$	$
	Balance, May 31, 2022		16,367,919	16,487,601	14,476,000	125,605	3,203,059	(94,044)	(16,222,315)	3,499,906
	Share-based compensation	11	-	-	-	-	172,479	-	-	172,479
	Foreign currency translation loss		-	-	-	-	-	(64,308)	-	(64,308)
	Net loss for the period		-	-	-	-	-	-	(2,006,299)	(2,006,299)
	Balance, February 28, 2023		16,367,919	16,487,601	14,476,000	125,605	3,375,538	(158,352)	(18,228,314)	1,601,778
	Balance, May 31, 2023		16,367,919	16,487,601	-	-	3,593,663	(164,383)	(18,945,423)	971,458
	Share-based compensation	11	-	-	-	-	83,076	-	-	83,076
	Foreign currency translation loss		-	-	-	-	-	(7,951)	-	(7,951)
	Net loss for the period		-	-	-	-	-	-	(1,013,054)	(1,013,054)
	Balance, February 29, 2024		16,367,919	16,487,601	-	-	3,676,739	(172,334)	(19,958,477)	33,529

6

The accompanying notes are an integral part of these unaudited condensed interim consolidated financial statements