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Gold/Mining/Energy : The Graphite Blog -- Ignore unavailable to you. Want to Upgrade?

To: vitalremains who wrote (1279)	2/18/2014 8:39:33 PM
From: vitalremains	Read Replies (1) \| Respond to of 1882

Mason closes first tranche investment in NanoXplore 2014-02-18 09:27 ET - News Release Mr. Benoit Gascon reports MASON GRAPHITE CLOSES FIRST TRANCHE OF ITS INVESTMENT IN GROUP NANOXPLORE INC. Mason Graphite Inc. has closed the first tranche of its investment in Group NanoXplore Inc. As previously announced on Jan. 13, 2014, Mason Graphite and NanoXplore have entered into an agreement, whereby Mason Graphite would acquire up to 40 per cent of the issued and outstanding shares of NanoXplore for $700,000 in two tranches. Upon the completion of the first tranche, an investment of $350,000 by Mason Graphite for a 20-per-cent interest in NanoXplore, Mason Graphite was appointed as NanoXplore's sales, marketing and distribution agent; Benoit Gascon, president and chief executive officer of Mason Graphite, was appointed as the chairman of the board of directors of NanoXplore; and Luc Veilleux, Mason Graphite's executive vice-president and chief financial officer, was appointed as a director and chief financial officer of NanoXplore. "We are excited to officially embark on our venture with NanoXplore," commented Mr. Gascon, president and chief executive officer of Mason Graphite. "We believe that our combined experts and projects will result in strong synergies, with an opportunity to pair our potential low-cost flake graphite from the Lac Gueret project with potentially low-cost graphene production from NanoXplore's proprietary process." NanoXplore is a privately held research and development company focused on developing low-cost, large-scale production of graphene from natural-flake graphite and integrating it into several industries, including energy and textiles. Graphene can be produced using a variety of processes, including chemical vapour deposition (CVD) and liquid exfoliation; however, many of them are not scalable and are associated with higher processing costs. NanoXplore's proprietary technique is a low-cost, low-energy, safe and scalable electrochemical conversion method, which turns natural-flake graphite into graphene. Mason Graphite has the right to purchase an additional 20-per-cent interest in NanoXplore on or before April 30, 2014, for an additional $350,000 if it is satisfied with the business, operations and progress of NanoXplore over the next two months. Following the completion of some key milestones, NanoXplore intends to explore the possibility of an initial public offering in order to improve its visibility and access to financing. We seek Safe Harbor.