/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC , April 21, 2026 /CNW/ - Applied Graphite Technologies Corp.("AGT") (TSXV: AGT), announces that it has now closed a non-brokered private placement of 5,750,000 AGT common shares at a price of C$0.10 for gross proceeds of C$575,000 (the "Offering") which was previously announced on April 15, 2026.

The Offering is subject to AGT receiving all necessary regulatory approvals, including approval from the TSX Venture Exchange (the "TSXV") to list the common shares as part of the Offering. All 5,750,000 common shares issued pursuant to the Offering are subject to a four-month plus one day hold period expiring August 22, 2026, under applicable securities laws in Canada.

The net proceeds of the Offering will be used by AGT for general working capital purposes. No finders' fees were paid in connection with the Offering.

Ian Slater participated in the Offering for 1,000,000 shares and such participation constituted a related-party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). AGT is relying on the exemptions from the formal valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the insiders' participation does not exceed 25% of AGT's market capitalization.

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.

About Applied Graphite Technologies

Applied Graphite Technologies is currently permitting the Queens Mine Complex in Sri Lanka. The Queens Mine Complex consists of an historical vein graphite mine on private land in the heart of the vein graphite district.

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.

This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes statements about the receipt of final approval for the Offering; the actual use of proceeds of the Offering; and the future plans of AGT. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to AGT, including the assumption that approvals will be obtained and that the actual use of proceeds will be the same as that stated. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, an ability to close the Bullfrog Transaction and the Offering and an ability to access financing as needed. AGT cautions the reader that the above list of risk factors is not exhaustive. Except as required under applicable securities legislation, AGT undertakes no obligation to publicly update or revise forward-looking information.

SOURCE Applied Graphite Technologies Corporation