Mason Graphite Forwards Whistleblower Complaint Pertaining to Simon Marcotte to the Autorité des Marchés Financiers

• Al-Tamimi’s questionable dissident board nominee, Simon Marcotte, is also Al-Tamimi’s choice for the next CEO of Mason Graphite.
• Al-Tamimi’s proposed director and CEO nominee requested a reduced title, with no reduction in compensation or responsibility, to avoid trading disclosure requirements and to have the ability to trade because of financial concerns.
• To ensure Al-Tamimi is not given the opportunity to take control of your Company without paying shareholders a premium, Mason Graphite Shareholders are reminded to vote FOR Management’s Nominees using only the Management Proxy.
  

MONTREAL, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Following a whistleblower complaint brought to the Board of Directors (the “Board”) of Mason Graphite Inc. ("Mason Graphite" or the “Company") (TSX.V: LLG; OTCQX: MGPHF), the Board confirms that after proper due diligence was conducted, it is submitting today the said complaint to the Autorité des marchés financiers (AMF) for further investigation. As well, in the context of the upcoming contested meeting and in line with good corporate governance practices, the complaint is being disclosed publicly. The whistleblower’s complaint pertains to Mr. Simon Marcotte and his alleged violation of corporate securities trading policies. The complaint was investigated by the Company’s Audit Committee and its legal counsel before being forwarded to the Board.

Mr. Simon Marcotte, who is a former Mason Graphite employee, is Fahad Al Tamimi’s (“Al-Tamimi”) candidate to become the next CEO of Mason Graphite. Additionally, Marcotte is a nominee on Al-Tamimi’s proposed dissident Board slate and he is also the acting spokesperson for Al-Tamimi, who seeks to take control of Mason Graphite with less than 10% of the total shares owned. This is another example of how ill-prepared Al-Tamimi and his proposed nominees are to lead Mason Graphite.

INFORMATION SURROUNDING THE COMPLAINT

On November 12, 2020, the Chair of Mason Graphite’s Audit Committee received a complaint pursuant to the Whistle Blowing Policy of the Company (the “Policy”) concerning the acts of a former employee, Simon Marcotte.

THE INQUIRY

The Chair of the Audit Committee engaged outside legal counsel to do a formal inquiry in accordance with the Policy and to report back to the Audit committee.

The inquiry led to additional and unsuspected findings relating to misappropriation of confidential corporate information and selective disclosure. While said inquiry is still ongoing, the Company feels it has the obligation to disclose this crucial information that illustrates Simon Marcotte’s inappropriate, unethical and unprofessional behaviour.