|Zen Graphene to open Guelph facility March 3|
2020-02-04 16:18 ET - News Release
Dr. Francis Dube reports
ZEN GRAPHENE SOLUTIONS ANNOUNCES GRAND OPENING OF GUELPH FACILITY FOR GRAPHENE MATERIALS PRODUCTION AND DEVELOPMENT
Zen Graphene Solutions Ltd. will host the grand opening of its Guelph facility on March 3, 2020. The facility will be used for small-scale pilot plant production to produce future Albany Pure graphene products as well as further research and development work. All shareholders and interested parties are invited to attend. The Guelph facility is located at 24 Corporate Court, Guelph, Ont. The opening will start at 1 p.m. ET, with an opportunity to meet with management, look at the lab facilities and attend a formal presentation at 3 p.m. ET.
The company is currently sourcing and purchasing the necessary equipment to build a small-scale graphite purification pilot plant that will produce 99.8 per cent high-purity graphite from the flotation concentrate (86 per cent). James Jordan, PEng, has been promoted to chief operating officer and will lead the work at the facility.
"This new facility will move the company towards the production and sale of Albany Pure graphene products and introduce our high-quality nanomaterials to the market. Albany Pure will be our marketing seal to identify that all our products are sourced from the Albany deposit. We look forward to bringing our nanomaterials, including graphene quantum dots, graphene oxide, reduced graphene oxide and graphene, to the market," commented Dr. Francis Dube, chief executive officer.
As the company moves forward toward graphene production and applications development, Zen has appointed Colin van der Kuur as head of research, and Monique Manaigre has been appointed as senior government relations and account manager.
On May 8, 2019, Zen was awarded a $1-million grant that has allowed the company to accelerate its graphene-enhanced concrete research and development project. To date, the company has received a total of $465,000 in reimbursement payments related to this grant as Zen continues its: research into graphite purification; graphene production research; concrete additive research; and large-scale graphene-enhanced concrete testing.
Zen has issued shares in connection with its previously announced shares-for-debt agreement with Alphabet Creative. The company issued 47,222 common shares at a deemed price of 36 cents per common share in settlement of a debt of $17,000 owed by the company. The common shares issued in connection with the shares-for-debt agreement will be subject to a hold period until May 1, 2020, in accordance with applicable securities laws.
Issuance of brokers' warrants
Further to the company's previously announced closing of its private placement of flow-through common shares, an aggregate amount of $54,840 in finders' fees as well as an aggregate amount of 137,100 brokers' warrants were paid to certain brokers in connection to the offering. These brokers' warrants expire on Dec. 19, 2021, and have an exercise price of 50 cents per warrant share.
About Zen Graphene Solutions Ltd.
Zen Graphene Solutions is an emerging graphene technology solutions company with a focus on the development of graphene-based nanomaterial products and applications. The unique Albany graphite project provides the company with a competitive advantage in the potential graphene market, as independent labs in Japan, the United Kingdom, Israel, the United States and Canada have independently demonstrated that Zen's Albany Pure graphite is an ideal precursor material that easily converts (exfoliates) to graphene, using a variety of mechanical, chemical and electrochemical methods.
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