TSX-V: GGG, OTCQB: GPHBF
NEW YORK, Dec. 1, 2015 /CNW/ - Graphene 3D Lab Inc.
(TSXV: GGG) (OTCQB: GPHBF) ("Graphene 3D") and Graphene
Laboratories Inc. are pleased to announce they have signed a
research, development and royalty agreement ("Agreement") with a
Fortune 500 listed manufacturer. Initially, the Agreement
encompasses the development of multi-phased deliverables over the
course of the next 12 months. For competitive reasons and pursuant
to confidentially clauses contained with the Agreement, neither
specific research objectives nor the identity of the Agreement
partner can be publicly disclosed. Upon successful completion of
the research phase, and subject to approval by the U.S. Food &
Drug Administration, the developed materials will become a part of
a consumer retail product.
The Agreement calls for all research and development costs and
royalty obligations to be paid by the partner, as well as a
first-right-of-refusal for supply of any graphene related materials
in future manufacturing pertaining to Intellectual Property (IP)
developed under the agreement. All IP developed under the
scope of the Agreement will be jointly held by both parties. The
partner has consecutively been included in the Fortune 500 list for
over 15 years.
"Graphene is a complex and amazingly functional material with
properties that provide unique advantages in a wide variety of
manufacturing situations. We expect graphene to become a
common ingredient in large-scale manufacturing, and the agreement
announced today will likely be a common first-step for traditional
manufactures," said Elena Polyakova Co-CEO of Graphene 3D.
"Manufacturers want the benefits of graphene, but it is a
highly-specialized material. We are helping partners develop
solutions and processes to incorporate graphene into their existing
manufacture processes."
"Our lab team will assist our partner to understand, handle and
integrate graphene into future manufacturing," added Daniel Stolyarov, Co-CEO of Graphene
3D. "We are not just replacing other additives with graphene,
we are working jointly with our partners to elevate the potential
of their products. Product expertise from our partners,
graphene expertise from our lab - the results is new products that
can do more than before."
Research and development work will be completed by personnel
from both Graphene 3D and Graphene Lab. Graphene 3D is in the
late stages of acquiring Graphene Lab in an all-share, non-arms
length transaction expected to close prior to the end of 2015,
subject to approval from the TSX-V (See New Release dated:
August 12, 2015). "Bringing
Graphene Lab into Graphene 3D creates value for our existing
shareholders by expanding the scope of commercial applications
Graphene 3D can provide." stated Stolyarov. "Combining
these two entities give us much broader expertise to support
existing manufacturers."
This news release is intended to fulfill all compliance,
regulatory and TSX-V Exchange obligations relating to the
disclosure of material news.
About Graphene 3D
Graphene 3D Lab is in the business of developing, manufacturing,
and marketing proprietary graphene-based nanocomposite materials
for various types of 3D printing, including fused filament
fabrication. The Company is also involved in the design,
manufacture, and marketing of 3D printers and related products for
domestic and international customers.
The Graphene 3D Lab facility is located in Calverton, NY and is equipped with material
processing and analytical equipment. The company has four US patent
applications pending for its technology. For more information on
Graphene 3D Lab, Inc., visit www.graphene3dlab.com
About Graphene Laboratories
Graphene Laboratories Inc. ("GLI") is incorporated under the
laws of the Commonwealth of Massachusetts, and is controlled and managed
by Daniel Stolyarov and Elena Polyakova, insiders of Graphene 3D. GLI.,
a leader in manufacturing and retailing of graphene and advanced
materials owns the Graphene Supermarket®,
www.graphene-supermarket.com, a leading supplier of such products
to customers around the globe. Graphene Laboratories client
list is comprised of more than 8,000 customers worldwide, including
nearly every Fortune 500 tech company and major research
university. Some notable clients are: NASA, Ford Motor Co.,
GE, Apple, Xerox, Samsung, Harvard
University, IBM and Stanford
University. For the last fiscal year ending December, 2014,
GLI recorded annual revenues of in excess of USD $1,000,000 and was cash flow positive.
Moreover, GLI has no material debt, and only trade
creditors.
According to prior announcement dated August 12, 2015, the Graphene 3D has entered in
non-arm length share exchange agreement (the "SEA") to acquire all
issued and outstanding shares of Graphene Laboratories. The terms
of the Share Exchange are subject to confirmation by a fairness
opinion prepared by an independent business valuator, an audit of
GLI's financial statements, the approval of the independent
directors of the Company, and the acceptance for filing by the TSX
Venture Exchange. Prior completion of the transaction, the
financial record of GLI does not appear in published filing
statements of Graphene 3D.
For further details concerning the Transaction, please see the
Company's filing statement on SEDAR (www.sedar.com) under the
Company's profile.
Except for statements of historical fact, all statements in this
press release, including, but not limited to, statements regarding
future plans, objectives and payments are forward-looking
statements that involve various risks and uncertainties.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements and
information that are based on the beliefs of management and reflect
the Company's current expectations. The forward-looking statements
and information in this press release includes information relating
to the Transaction (including the anticipated date which the
Company's common shares will commence trading on the
Exchange). Such statements and information reflect the
current view of the Company with respect to risks and uncertainties
that may cause actual results to differ materially from those
contemplated in those forward-looking statements and
information.
By their nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among
others, the following risks: risks associated with the completion
of the Transaction and matters relating thereto; and risks
associated with the marketing and sale of securities, the need for
additional financing, reliance on key personnel, the potential for
conflicts of interest among certain officers or directors with
certain other projects, and the volatility of the Company's common
share price and volume. Forward-looking statements are made based
on management's beliefs, estimates and opinions on the date that
statements are made and the Company undertakes no obligation to
update forward-looking statements if these beliefs, estimates and
opinions or other circumstances should change. Investors are
cautioned against attributing undue certainty to forward-looking
statements.
There are a number of important factors that could cause the
Company's actual results to differ materially from those indicated
or implied by forward-looking statements and information. Such
factors include, among others, risks related to Graphene 3D's
proposed business such as failure of the business strategy, stable
supply prices, demand and market prices for 3D printing products,
and government regulation; risks related to Graphene 3D's
operations, such as additional financing requirements and access to
capital, reliance on key and qualified personnel, insurance,
competition, intellectual property and reliable supply chains;
risks related to Graphene 3D and its business generally such as
potential exposure to tax under Canadian and US income tax laws,
laws and regulations relating to cross-border mergers and
acquisitions, infringement of intellectual property rights, product
liability, environmental protection, currency exchange rates and
conflicts of interest.
The Company cautions that the foregoing list of material factors
is not exhaustive. When relying on the Company's
forward-looking statements and information to make decisions,
investors and others should carefully consider the foregoing
factors and other uncertainties and potential events. The
Company has assumed a certain progression, which may not be
realized. It has also assumed that the material factors
referred to in the previous paragraph will not cause such
forward-looking statements and information to differ materially
from actual results or events. However, the list of these factors
is not exhaustive and is subject to change and there can be no
assurance that such assumptions will reflect the actual outcome of
such items or factors. While the Company may elect to, it
does not undertake to update this information at any particular
time.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE
REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS
PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING
INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY
OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT
UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT
AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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.
SOURCE Graphene 3D Lab Inc.