NanoXplore Announces Management and Board Changes

NanoXplore Inc. (“

NanoXplore

” or the “

Company

”) (TSX: GRA and OTCQX: NNXPF) announces today that after more than eight years with NanoXplore, Luc Veilleux, CFO, will be departing the Company from his position on July 18, 2022 and will be joining VoltaXplore as CFO. He will remain with the Corporation until September 1, 2022 to ensure a smooth transition. Luc has over 25 years of executive management, financial and operational experience in manufacturing and mining industries. His previous roles include CFO of Mason Graphite, President of Maxi Canada, and CFO of Imerys Graphite and Carbon. Mr. Veilleux, with his work ethic and talent, made a major contribution to NanoXplore’s development.

“On behalf of everyone at NanoXplore, I'd like to express my gratitude to Luc for his outstanding leadership, selfless partnership, and financial stewardship. Luc has played a crucial role in NanoXplore's success and growth by helping lay the solid foundation that supports the company's innovation, global presence and financial strength. I am looking forward to continue working with Luc in VoltaXplore" said Soroush Nazarpour, President and CEO, NanoXplore.

“I’m deeply appreciative of the opportunity to have served as Chief Financial Officer of NanoXplore. The skills that I have strengthened working with NanoXplore have been invaluable, and I’m looking forward to transitioning to the next professional phase of my life” added Luc Veilleux.

APPOINTMENT OF NEW CFO, MR. PEDRO AZEVEDO

NanoXplore announces the appointment of Pedro Azevedo to the position of Chief Financial Officer effective July 18, 2022. Until recently, Mr. Azevedo was the CFO of Tarkett Sports, a division of publicly traded global manufacturing company Tarkett S.A. Prior to that, he occupied a variety of positions starting from a cost accountant to different corporate controller functions. Mr. Azevedo was instrumental at demonstrating his competency and leadership skills. He brings extensive experience in manufacturing, operations, and M&A. Mr. Nazarpour added, “I’m excited to welcome Pedro to NanoXplore. He is a high-impact executive who brings a compelling blend of operational and financial discipline. He will be a strong partner as we pursue our growth.”

CHANGES TO THE BOARD OF DIRECTORS

Ms. Nathalie Pilon had resigned as board member of NanoXplore effective as of July 4, 2022, so that she may focus her efforts on other professional duties. The Company would like to extend heartfelt thanks to Ms. Pilon for her services. The Board of Directors together with the Company has initiated the search for a successor.

“On behalf of our Board, we thank Nathalie for her service and commitment to the Company, we greatly appreciate the leadership, insight, and expertise that Nathalie has provided since she joined.” Commented Benoit Gascon, Lead Director of the Board of Directors of NanoXplore Inc.

ABOUT NANOXPLORE INC.

NanoXplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in transportation and industrial markets. The Company provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics, and other industrial sectors. NanoXplore is headquartered in Montreal, Quebec with manufacturing facilities across North America and Europe. Please visit www.nanoxplore.ca.

For further information, please contact:

Martin Gagné Director, Investor [e-mail]: 438.476.1342