Grafoid Appoints Thomas H. Cruikshank, Former Chairman and CEO of
Haliburton, as Strategic Advisor
OTTAWA, ONTARIO--(Marketwired - Apr 8, 2014) - Mr. Gary Economo,
Chief Executive Officer of Focus Graphite Inc., (TSX-VENTURE:FMS)
(OTCQX:FCSMF) (FRANKFURT:FKC) and CEO and Founding Partner of
Grafoid Inc. ("Grafoid" or the "Company") announced today the
appointment of Mr. Thomas H. Cruikshank as a strategic advisor to
Grafoid.
Focus Graphite Inc. holds a substantial equity interest in
Grafoid Inc. on behalf of its shareholders representing 19%.
Grafoid, with R&D and production facilities in Singapore,
Canada and the United States, is an advanced, complete solutions
graphene technologies company. Grafoid deems MesoGraf™ the global
standard for high-energy density graphene from a globally patented
process. That process uniquely transforms raw, unprocessed graphite
ore to affordable and scalable, high-purity few layer graphene.
"We are extremely pleased to welcome Mr. Cruikshank, his
participation and his guidance in Grafoid's future development,"
said Mr. Economo. "As a graphene technologies company with a
growing global presence, Mr. Cruikshank's participation will assist
us with our business development and expansion into critically
important United States' markets.
"Mr. Cruikshank's business acumen, coupled with his extensive
global corporate experience as Chairman and CEO of a Fortune 200
corporation, affords Grafoid a competitive edge, as we advance our
near-market-ready MesoGraf™ applications. We are very fortunate to
have Mr. Cruikshank on our team," Mr. Economo said.
Mr. Cruikshank served as Chief Executive Officer of the
Haliburton Company from 1983 to 1995, where he also served as
Haliburton's President from 1983 to 1989 and Chairman from 1989 to
1995. Mr. Cruikshank joined Haliburton in 1969 and served as a
Director from 1977 to 1996.
Founded in 1919, Texas-based Haliburton is one of the world's
largest providers of products and services to the energy industry,
with more than 75,000 employees, representing 140 nationalities in
more than 80 countries. The Honorable Richard (Dick) B. Cheney -
who later served as the 46th Vice President of the United States of
America - succeeded Mr. Cruikshank as Chief Executive Officer and
subsequently, Chairman of Haliburton in October 1995.
Mr. Cruikshank's distinguished business career spans over 50
years. Prior to joining Haliburton, Mr. Cruikshank was a manager
with the accounting firm Arthur Andersen & Co and, after
serving his country as an officer in the United States Navy at the
end of the Korean War, joined the international law firm Vinson
& Elkins where he became a Partner.
Mr. Cruikshank has served on the Board of Directors for a number
of high-profile public companies, including The Goodyear Tire &
Rubber Company, The Williams Companies, Inc., Seagull Energy
Corporation, Central and South West Corporation, and Lehman
Brothers Holdings Inc. Mr. Cruikshank's Directorships also included
the American Petroleum Institute and the Petroleum Equipment
Suppliers Association, as well as several nonprofit organizations,
such as Junior Achievement, Up with People, Rice University and the
California Institute of Technology. He holds a degree in Business
and Economics from Rice University and attended the University of
Texas and the University of Houston law schools.
"Graphene is a fascinating yet complex material with incredible
developments underway, especially in the areas of energy storage,
graphene polymers and in particular, non-invasive cancer
eradication therapies," said Mr. Cruikshank.
"I feel that Grafoid has considerable advantages with its
MesoGraf™ functional graphene materials and is certainly
significantly ahead of everyone else in the broad spectrum of
next-generation applications currently being developed. Under the
strategic leadership of Mr. Economo and Dr. Gordon Chiu, I believe
Grafoid's future is exceptionally promising. I am honored by this
unique opportunity to participate in, and be a part of such an
accomplished, progressive company advancing towards the
commercialization of a cutting-edge disruptive technology.
"Manufacturing and industry are under the misguided notion that
high-purity graphene cannot be produced on a large commercial scale
and, as importantly, at a commercial cost that is acceptable for
widespread graphene adoption. MesoGraf™ successfully addresses and
overcomes those challenges right now - not decades down the road,
like many believe. Grafoid brings world-leading expertise in
graphene, resolves scalability issues, tailors graphene for
specific applications, and provides solutions for commercial
success," added Mr. Cruikshank.
About Grafoid Inc.
Grafoid Inc. is a privately held Canadian corporation investing
in MesoGraf™ high-energy density graphene applications and
economically scalable production processes for pristine bilayer and
trilayer graphene and MesoGraf™ 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 substantial
equity interest in Grafoid Inc. on behalf of its shareholders
representing 19%.
About Focus Graphite Inc.
Focus Graphite Inc. is an emerging mid-tier junior mining
development company, a technology solutions supplier and a business
innovator. Focus is the owner of the Lac Knife graphite deposit
located in the Côte-Nord region of northeastern Québec. The Lac
Knife project hosts a NI 43-101 compliant Indicated Mineral
Resource Estimate* of 4.9 million tons grading 15.8% graphitic
carbon (Cgr) as crystalline graphite with an additional Inferred
Mineral Resource Estimate* of 3.0 million tons grading 15.6% Cgr of
crystalline graphite. Focus' goal is to assume an industry
leadership position by becoming a low-cost producer of
technology-grade graphite. On October 29th, 2012 the Company
released the results of a Preliminary Economic Assessment ("PEA")
of the Lac Knife Project which indicated that the project has a
very good potential to become a graphite producer. As a
technology-oriented enterprise with a view to building long-term,
sustainable shareholder value, Focus also invests in the
development of graphene applications and patents through Grafoid
Inc.
The technical information presented in this news release has
been reviewed by Don Baxter Baxter, P.Eng, President and Chief
Operating Officer of Focus Graphite Inc., and a Qualified Person
under National Instrument (NI) 43-101 guidelines.
Forward Looking Statement
This presentation contains "forward-looking information" within
the meaning of Canadian securities legislation. All information
contained herein that is not clearly historical in nature may
constitute forward-looking information. Generally, such
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: (i)
volatile stock price; (ii) the general global markets and economic
conditions; (iii) the possibility of write-downs and impairments;
(iv) the risk associated with exploration, development and
operations of mineral deposits; (v) the risk associated with
establishing title to mineral properties and assets; (vi)the risks
associated with entering into joint ventures; (vii) fluctuations in
commodity prices; (viii) the risks associated with uninsurable
risks arising during the course of exploration, development and
production; (ix) competition faced by the resulting issuer in
securing experienced personnel and financing; (x) access to
adequate infrastructure to support mining, processing, development
and exploration activities; (xi) the risks associated with changes
in the mining regulatory regime governing the resulting issuer;
(xii) the risks associated with the various environmental
regulations the resulting issuer is subject to; (xiii) risks
related to regulatory and permitting delays; (xiv) risks related to
potential conflicts of interest; (xv) the reliance on key
personnel; (xvi) liquidity risks; (xvii) the risk of potential
dilution through the issue of common shares; (xviii) the Company
does not anticipate declaring dividends in the near term; (xix) the
risk of litigation; and (xx) risk management. Forward-looking
information is based on assumptions management believes to be
reasonable at the time such statements are made, including but not
limited to, continued exploration activities, no material adverse
change in metal prices, exploration and development plans
proceeding in accordance with plans and such plans achieving their
stated expected outcomes, receipt of required regulatory approvals,
and such other assumptions and factors as set out herein. Although
the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
the forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended.
There can be no assurance that such forward-looking information
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such
forward-looking information. Such forward-looking information has
been provided for the purpose of assisting investors in
understanding the Company's business, operations and exploration
plans and may not be appropriate for other purposes. Accordingly,
readers should not place undue reliance on forward-looking
information. Forward-looking information is made as of the date of
this news release, and the Company does not undertake to update
such forward-looking information except in accordance with
applicable securities laws.
Focus Graphite Inc.Mr. Gary EconomoChief Executive
Officer1-613-691-1091 ext.
101geconomo@focusgraphite.comwww.focusgraphite.com
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