Mason Graphite Sees Strong Support from its Largest Investors and Reminds Shareholders of the Company’s Go Forward Plan

• Mason Graphite encourages shareholders to continue the momentum of support received thus far by voting FOR Management’s nominees using ONLY Management’s proxy before the proxy voting deadline of December 23, 2020 at 10:00 a.m. (Eastern Time).
  
• Management’s nominees are as follows: Gilles Gingras, François Laurin, Guy Chamard, Gaston A. Morin, Fahad Al-Tamimi and Peter Damouni. All are knowledgeable and highly qualified to continue to move the Company forward.

MONTREAL, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Mason Graphite Inc. ("Mason Graphite", the “Company") (TSX.V: LLG; OTCQX: MGPHF) has conducted discussions with several of its large institutional investors over the past weeks about its path forward and is encouraged by the growing support it is receiving. Shareholders believe it is not the time to allow the dissident, Fahad Al-Tamimi (“Al-Tamimi”) to stall the Company’s progress.

In addition, Mason Graphite is compelled to highlight several conclusions of the recent Institutional Shareholder Services’ (ISS) report. First, the dissident Al-Tamimi has not made the case for him to have outright control of the Board as he proposes; second, he has failed to provide a business plan for shareholders to consider; and third, he continues to put forward a Board nominee and CEO who has been rejected outright by proxy advisory firms.

SIGNIFICANT SHAREHOLDER SUPPORT INCLUDES LARGE INVESTORS WHO SEE THE VALUE IN MASON GRAPHITE’S STRATEGIC PLAN AND PROPOSED SLATE OF NOMINEES

Through Mason Graphite’s discussions with shareholders, the Company is pleased with the positive feedback it is receiving. These shareholders see the obvious problems with Al-Tamimi’s lack of plan and underqualified nominees and view Management’s slate to be the best choice to continue to steward Mason Graphite in the right direction. In contrast to Al-Tamimi, Management has demonstrated vision and prescient timing by defining a strategic plan that, beyond building a mine and plant, includes developing value-added products (“VAP”) (such as the coated spherical graphite used for Li-ion batteries) that benefit from growing market demand and superior economics. In recent press releases, the Company announced progress on the VAP front. A new and highly qualified CEO with an in-depth knowledge of the industrial minerals market will bring that plan to fruition.