TSX-V: GGG, OTCQB: GPHBF
VANCOUVER and NEW YORK, Dec. 9,
2015 /CNW Telbec/ - Graphene 3D Lab Inc. (TSXV:GGG)
(OTCQB:GPHBF) ("Graphene 3D" or the "Company") announces that it
has closed a non-arm's length share exchange agreement dated
August 12, 2015 (the "SEA") to
acquire all of the issued and outstanding shares of Graphene
Laboratories Inc. ("GLI" or "Graphene Laboratories"). The
transaction has been reviewed and accepted for filing by the TSX
Venture Exchange. GLI is active in the business of the
manufacture and worldwide distribution of nanocarbon and graphene
products. For the last fiscal year ending December 31, 2014, GLI recorded annual revenues
in excess of USD $1,000,000 and has
no material debt.
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. Graphene
Laboratories also holds a provisional patent relating to technology
enabling cost efficient industrial scale manufacture and processing
of graphene. Graphene Laboratories will operate as a
wholly-owned subsidiary of Graphene 3D.
Pursuant to the SEA, the Company has acquired all of the issued
and outstanding common shares of GLI by the issuance of 345,500
common Shares to the minority shareholders of GLI with resale
restrictions until April 9, 2016, a
further 600,000 common shares which have been deposited into escrow
and will be subject to automatic releases in installments every 6
months over the next 36 months. The balance of 2,854,500
common shares (the "Earn-out Shares") will be issued on the basis
of one Earn-Out Share for every $0.60
in audited cumulative cash flow generated from the operations of
GLI over the next 5 fiscal years of the Company. Further
details of the transaction can be seen in the Company's news
release dated August 12, 2015.
The Company is also pleased to announce that Dr. Elena Polyakova, Co-CEO Graphene 3D will be
participating as a panelist at the 5th Annual Graphite to Graphene
Conference in London on December
9th. The Conference will be held at the Waldorf Hilton in
London England, December 8 and 9. Dr. Polyakova is a
returning panelist to the conference and will be presenting on
recent developments in graphene. The Conference is the
largest international forum dedicated to the natural and synthetic
graphite and graphene industries.
About Graphene 3D
Graphene 3D is BC company whose common shares are listed on the
TSX Venture Exchange, which now owns all of the issued and
outstanding shares of Graphene 3D Lab (U.S.) Inc., a private
Delaware corporation, organized on
September 3, 2013 ("Graphene
US"). Graphene US is in the business of developing,
manufacturing, and marketing proprietary polymer nanocomposite
graphene-based materials for various types of 3D printing,
including fused filament fabrication as well as the design,
manufacture and marketing of three-dimensional printers and
products for worldwide customers, including in the aerospace and
automotive industries, manufacturers of medical prosthetics and the
military. Graphene US currently has six US patent
applications pending for its technology. For more information on
Graphene 3D Lab Inc., visit www.graphene3dlab.com.
FORWARD LOOKING INFORMATION
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.