|By Marketwired .||
|June 9, 2014 03:45 PM EDT||
OTTAWA, ONTARIO -- (Marketwired) -- 06/09/14 -- Grafoid Inc. is pleased to announce it has reached agreement in principle (the "Agreement") for the acquisition of ALCERECO Inc. ("ALCERECO" or the "Acquisition"). ALCERECO Inc. is a global technology leader in advanced composite materials, alloys and coatings focused on the development, testing and production of advanced materials.
Under the terms of Agreement, Grafoid will purchase all of the issued and outstanding shares of ALCERECO from the shareholders of ALCERECO in exchange for 250,000 common shares of Grafoid at a price of CAD$5.00 per share, for a total value of CAD$1,250,000.
Markets served by ALCERECO include, but are not limited to: aerospace, automotive, electronics, sporting goods, infrastructural and mining sectors.
Based in Kingston, Ontario, ALCERECO has a global customer base and facilities capable of developing innovative, scalable processes to bring new MesoGraf(TM)-based materials to market.
ALCERECO is recognized as the "go-to" source for the development of aluminum-scandium alloys, specialty ceramics, rare earths and advanced composite materials.
ALCERECO's facility includes a five-ton foundry, casting, rolling, a wide range of development laboratories, and analytical equipment for the development of prototype production.
"ALCERECO, its principals and its facilities add value to Grafoid because they hold the science and engineering expertise to bring MesoGraf(TM)-based industrial materials and products to market," Chief Executive Officer Gary Economo said.
"For Grafoid, the integration of a group of experts that optimize manufacturing paths for us and for our growing global list of industrial joint venture partners is timely as we grow our Kingston operations," Mr. Economo said.
The closing of the Acquisition is subject to conditions customary to this type of transaction, including, notably, the completion by Grafoid of a satisfactory due diligence review on ALCERECO and its business, the final approval of Grafoid's board of directors and the execution of a definitive share purchase agreement between Grafoid, ALCERECO and all of the shareholders of ALCERECO.
About ALCERECO Inc.
ALCERECO Inc. was formed by a group of partners with extensive backgrounds in advanced materials, new product development and commercialization. The company has connections to global value chains for both supply and applications.
ALCERECO's combined experience includes management positions in large chemicals and light metal companies, industrial research in metal and mining technology, successful new product commercialization, and designing and building new processing facilities.
About Grafoid Inc.
Grafoid Inc. is a privately held Canadian corporation investing in MesoGraf(TM) high-energy density graphene applications and economically scalable production processes for pristine bilayer and trilayer graphene and MesoGraf(TM) derivatives from raw, unprocessed, graphite ore. The company is engaged in the development of graphene patent joint ventures globally, in the areas of renewable energy, advanced polymer materials, biomedicine, thermal dispersion technologies, coatings and a number of classified material development projects. Focus Graphite, Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) holds a significant interest in Grafoid on behalf of its shareholders.
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