Applied Graphite Technologies Corp. — Capital/Financing Update 2021

Sep 28, 2021

September 27, 2021

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VIA: SEDAR

British Columbia Securities Commission Alberta Securities Commission Manitoba Securities Commission Ontario Securities Commission

Dear Sirs/Mesdames:

Re: Audrey Capital Corporation (the “Company”) Final Prospectus dated September 27, 2021 (the “Prospectus”)

We refer to the Prospectus of the Company qualifying the distribution of 5,000,000 common shares of the Company (" Common Shares ") at a price of $0.10 per Common Share.

We hereby consent to the reference to our name on the face page and under the heading "Maximum Investment" and “Relationship Between the Issuer and the Agent” in the Prospectus and consent to the reference to our name and the use of our opinions under the headings "Eligibility for Investment" in the Prospectus.

We confirm that we have read the Prospectus and have no reason to believe that there are any misrepresentations (as defined in Canadian securities legislation) in the information contained therein that are derived from our opinions referred to above or that are within our knowledge as a result of the services we performed in connection with rendering such opinions.

Yours truly,

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