Caribou & Ortech to Jointly Develop Vertically Integrated Graphene Business Opportunities
Press Release: JOINT VENTURES – Mon, 17 Mar, 2014 6:00 AM EDT
ca.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 17, 2014) - CARIBOU KING RESOURCES LTD. ("Caribou" or the "Company") (TSX VENTURE:CKR) ( CB8.F) is pleased to announce that it has retained Process Research Ortech Inc. ("Ortech") to jointly develop technologies related to the production of commercial quality and economic graphene product.
Caribou's current mineral interest portfolio consists of seven graphite properties located in Ontario and Quebec. Included in the portfolio, and rationale for commencing development of a graphene technology, are the Montpellier and TAC property.
The Montpellier graphite property is located approximately 67 kilometres north-northeast of Ottawa, Ont. The property hosts graphite mineralization with historical drilling results previously discussed in the Company's news release dated December 12, 2013.
The TAC property is located in the Mousseau Township region of Quebec. Historical drilling results have previously been discussed in the Company's news release dated February 25, 2013 and new graphite discoveries at TAC discussed October 3, 2013.
After consultation with its technical advisors, management of Caribou has decided to further explore the potential development of graphene from graphite, such that it will have a vertically integrated supply chain for any potential graphite that may be produced from its properties.
Dr V.I Lakshmanan of Ortech states "graphene is a monolayer of carbon atoms that are tightly packed into a two dimensional hexagonal honeycomb lattice. Our years of experience in the graphite space, combined with our technical expertise in developing metallurgical solutions for high purity mineral products and nanomaterials, is now working together with Caribou King with its stable of graphite projects should lead to new graphene processing technologies and potentially new applications for graphene. Graphene has immense potential for applications in next generation of electronic materials."
Under the joint development arrangement, Ortech will develop and test a process to develop graphene from high-grade graphite. Ortech will complete preliminary research and a first phase bench test of the process in consideration for $120,000, to be paid by Caribou within 60 days (alternatively, if Caribou does not wish to proceed with the test, it can terminate the arrangement for a fee of $25,000). If warranted, Ortech will: (a) complete a second phase bench test of the process in consideration of an additional $250,000; and (b) construct a pilot plant to test the process for $2.5 million, at which stage Caribou will own 49.0% of the technology underlying the process. Further, after six consecutive months of operation of such pilot plant, Caribou should desire to purchase Ortech's interest in the technology (such that Caribou would be the sole owner of the technology), Caribou has the option, but not the requirement, to purchase such interest for $15 million, for a period of three months.
Mike England states "Graphene promises to overtake the demand of all current nanomaterials, especially in electronics and energy storage applications. Graphene is also seeing demand in aerospace, automotive, coatings and paints, communications, sensors, solar, oil and lubricants. The unprecedented thermal and chemical properties, as well as the stability of graphene chemically, make it an implicitly disruptive technology for energy and electronic utilization. Our excellent stable of graphite projects will allow Caribou to become a vertically integrated graphite-graphene company with the help of Ortech."
The joint development agreement is subject to standard conditions, including the receipt of all necessary approvals.
About Ortech
Formed in 1928 as Ontario Research Foundation (ORF), Process Research Ortech was privatized in 1999, and now in its 14th year of operation. Ortech is committed to Sustainable Development through innovation for energy and process industries.
Ortech has a world class service facility with its laboratory and pilot plant offers services on technology development, technology transfer, pre-commercialization trials, engineering assistance, market evaluation and development, sustainable development and process mineralogy.
Recognizing the need for sustainable development for these industries Ortech has expanded to offer its clients process technologies for economic advantage, environmental stewardship and societal care.
For more information, visit the website at www.caribouking.com.
ON BEHALF OF THE BOARD
Michael England, CEO, Caribou King Resources Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Caribou King Resources Ltd.
Michael England
CEO
1-604-683-3995 or Toll Free: 1-888-945-4770
www.caribouking.com |
