Business
Mason Graphite signs agreement to purchase up to 40% interest in Group NanoXplore Inc. and announces fully subscribed financing by its management and the management of Forbes & Manhattan
MONTREAL , Jan. 13, 2014 /CNW/ - Mason Graphite Inc. ("Mason Graphite" or the "Company...
About this update from Transoceanic Investments Inc.
[{"type":"text","content":"\n\n\nMONTREAL, Jan. 13, 2014 /CNW/ - Mason Graphite Inc. (\"Mason Graphite\" or the \"Company\") (TSXV: LLG) (OTCQX: MGPHF)\n announces that it has signed a letter agreement with Group NanoXplore\n Inc. (\"NanoXplore\") whereby Mason Graphite would purchase up to 40% of\n the issued and outstanding shares of NanoXplore for $700,000 (the\n \"Proposed Transaction\"). In connection with the Proposed Transaction, a\n private placement for 875,000 common shares of the Company at a price\n of $0.80 has been fully subscribed for by members of the management\n teams of Forbes & Manhattan and Mason Graphite. The issue price\n represents a 12.7% premium to Friday's closing price of $0.71.\n\n\nNanoXplore is a privately held research and development company focused\n on developing low cost, large-scale production of graphene from natural\n flake graphite, and integrating it into several industries including\n energy and textiles. Graphene can be produced using a variety of\n processes, including Chemical Vapor Deposition (CVD) and liquid\n exfoliation, however many of them are not scalable and are associated\n with higher processing costs. NanoXplore's proprietary technique is a low cost, low energy, safe and\n scalable electrochemical conversion method which turns natural flake\n graphite into graphene. For more information about NanoXplore, visit www.nanoxplore.ca.\n\n\n\"We are thrilled with the synergies between Mason Graphite and\n NanoXplore,\" commented Benoît Gascon, President and CEO of Mason\n Graphite. \"This mutually beneficial alliance will connect our expert\n teams and combine potential low cost flake graphite production from our\n Lac Guéret project and potential low cost graphene production from\n NanoXplore's process. Through this strategic alliance, we will\n eventually become NanoXplore's exclusive supplier of natural flake\n graphite and we will actively be involved in all facets of their sales\n and marketing activities. Customers seeking flake graphite are\n potential customers of graphene; as such, we strongly believe that the\n relationships we have developed with global graphite customers in the\n last two decades will greatly benefit NanoXplore's market penetration\n and distribution abilities. We are eager to work with NanoXplore and to\n include graphene in our business model, a substance which T...