Zenyatta Announces the Formation of a Wholly Owned Subsidiary, ZEN-tech Materials Ltd., to Develop & Commercialize Graphene R...
July 25 2017 - 8:00AM
Zenyatta Announces the Formation
of a Wholly Owned Subsidiary, ZEN-tech Materials Ltd., to Develop
& Commercialize Graphene Related Opportunities
Thunder Bay, ON -
25 July 2017 - Zenyatta Ventures Ltd. ("Zenyatta" or "Company")
(TSXV: ZEN) (OTCQX:
ZENYF) is pleased to
announce the formation of a wholly owned subsidiary called ZEN-tech
Materials Limited ("ZEN-tech") with a registration in England and
Wales. ZEN-tech will focus on the development and commercialization
activities of graphene applications and the allocation of any
associated intellectual property ('IP') and worldwide
licensing. The formation of ZEN-tech is a strategic move that
will provide a vehicle to capture value and advance graphene
application development separate from the mineral development
Company. Zenyatta will continue to focus on advancing the
Albany graphite deposit towards production and will supply highly
crystalline, purified graphite to ZEN-tech, academics and end
users.
"It has become apparent in the
last 12 months that Zenyatta has created additional value from our
global collaboration and development related to various graphene
initiatives. It makes strategic sense to create a subsidiary
to hold the various opportunities and handle these initiatives with
our partners", stated Aubrey Eveleigh, President & CEO of
Zenyatta. "ZEN-tech has the advantage of developing proprietary
graphene-based technology with a consistent supply of high-quality
raw material from Zenyatta's wholly owned Albany graphite
deposit. We have demonstrated that Zenyatta's graphite
converts (exfoliates) easily via sonication to graphene, including
mono-layer to tri-layer, has excellent dispersion properties and is
highly suitable for many graphene and graphene-oxide
applications."
Graphene has shown to enhance the
properties of many existing products since its discovery in 2004.
The technology pipeline for ZEN-tech includes graphene applications
for concrete composites, rubber composites, sensors, filtration,
emulsions and silicon-graphene batteries. The formation of a
subsidiary will help facilitate and focus the integration of
Zenyatta graphene into the next generation of commercial
technologies, providing various industries with advanced materials
that have improved performance.
ZEN-tech, a private incorporated
company, will have access to the high-purity graphite from Zenyatta
Ventures for graphene and graphene related opportunities. There is
a high level of interest, especially in Europe, from sophisticated
technology or cleantech entities, particularly related to a need
for access to a unique raw material graphite source that converts
to high-quality graphene for various applications. The UK is
a centre for graphene research, innovation and funding and
consequently this attracts many global graphene industry
specialists. By locating in UK, ZEN-tech will be able to tap
into the extensive resources available there and will be on the
leading edge of the developments in this new and fast growing
materials sector. The subsidiary will operate independently of
Zenyatta and will be assembling an expert management team once the
structure is in place. Details on company structure and
related developments will be announced in the near future.
About
Zenyatta
Zenyatta is developing the Albany
Graphite Deposit situated in northeastern Ontario, Canada.
The deposit is a unique type of igneous-hosted, fluid-derived
graphite mineralization contained in two large breccia pipes.
The Company is seeking end users for their graphite and graphene
and is working with several collaborative partners including the
development of a graphene enhanced composites. Other
potential markets for graphite include Lithium-ion batteries, fuel
cells and powder metallurgy. The application for graphitic
material is constantly evolving due to its unique chemical,
electrical and thermal properties. It maintains its stability and
strength under temperatures in excess of 3,000°C and is very
resistant to chemical corrosion. It is also one of the lightest of
all reinforcing elements and has high natural lubricating
abilities. The outlook for the global graphite market is very
promising with demand growing rapidly from new applications.
It is now considered one of the more strategic elements by many
leading industrial nations, particularly for its growing importance
in high technology manufacturing and in the emerging "green"
industries such as electric vehicle components.
The Albany graphite deposit is
situated 30 km north of the Trans-Canada Highway, power line and
natural gas pipeline near the communities of Constance Lake First
Nation and Hearst. A rail line is located 70 km away with an
all-weather road approximately 10 km from the graphite
deposit. The world trend is to develop products for
technological applications that need extraordinary performance
using ultra-high purity graphite powder at an affordable cost.
Albany graphite can be upgraded with very good crystallinity
without the use of aggressive acids (hydrofluoric) or high
temperature thermal treatment therefore having an environmental
advantage over other types of upgraded high-purity graphite
material.
Mr. Aubrey Eveleigh, P.Geo.,
Zenyatta's President and CEO, is the "Qualified Person" for the
purposes of National Instrument 43-101 and has reviewed, prepared
and supervised the preparation of the information contained in this
news release.
For Further Information Please
visit the Company's website at: http://www.zenyatta.ca or
contact:
Mara Strazdins, HB.Sc., VP
Corporate Communications and Investor Relations
Mobile: (416) 710-0646, Office (807) 346-1660 Email:
mstrazdins@zenyatta.ca or info@zenyatta.ca
CAUTIONARY STATEMENT: This
analysis does not represent a statistically large sample
size. Furthermore, these positive results do not mean that
Zenyatta can extract and process Albany graphite for graphite
applications on an economic basis. Zenyatta is in the
development stage and without a formal independent feasibility
study, there is no assurance that the operation will be economic or
placed into production. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. This news release may
contain forward looking information and Zenyatta cautions readers
that forward looking information is based on certain assumptions
and risk factors that could cause actual results to differ
materially from the expectations of Zenyatta included in this news
release. This news release includes certain "forward-looking
statements", which often, but not always, can be identified by the
use of words such as "believes", "anticipates", "expects",
"estimates", "may", "could", "would", "will", or "plan". These
statements are based on information currently available to Zenyatta
and Zenyatta provides no assurance that actual results will meet
management's expectations. Forward-looking statements include
estimates and statements with respect to Zenyatta's future plans,
objectives or goals, to the effect that Zenyatta or management
expects a stated condition or result to occur, including the
expected timing for release of a pre-feasibility study, the
expected uses for graphite in the future, and the future uses of
the graphite from Zenyatta's Albany deposit. Since forward-looking
statements are based on assumptions and address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results relating to, among other things,
results of metallurgical processing, ongoing exploration, project
development, reclamation and capital costs of Zenyatta's mineral
properties, and Zenyatta's financial condition and prospects, could
differ materially from those currently anticipated in such
statements for many reasons such as, but are not limited to:
failure to convert estimated mineral resources to reserves; the
preliminary nature of metallurgical test results; the inability to
identify target markets and satisfy the product criteria for such
markets; the inability to complete a prefeasibility study; the
inability to enter into offtake agreements with qualified
purchasers; delays in obtaining or failures to obtain required
governmental, environmental or other project approvals; political
risks; uncertainties relating to the availability and costs of
financing needed in the future; changes in equity markets,
inflation, changes in exchange rates; fluctuations in commodity
prices; delays in the development of projects; capital and
operating costs varying significantly from estimates and the other
risks involved in the mineral exploration and development industry;
and those risks set out in Zenyatta's public documents filed on
SEDAR. This list is not exhaustive of the factors that may affect
any of Zenyatta's forward-looking statements. These and other
factors should be considered carefully and readers should not place
undue reliance on Zenyatta's forward-looking statements. Although
Zenyatta believes that the assumptions and factors used in
preparing the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. Zenyatta disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Zenyatta Ventures Ltd via Globenewswire
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