Grafoid Appoints Thomas H. Cruikshank, Former Chairman and CEO of Haliburton, as Strategic Advisor
08 Abril 2014 - 11:25AM
Marketwired Canada
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(TM) 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(TM) 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(TM)
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(TM) 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(TM)
high-energy density graphene applications and economically scalable production
processes for pristine bilayer and trilayer graphene and MesoGraf(TM)
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 Cote-Nord region of northeastern
Quebec. The Lac Knife project hosts a NI 43-101 compliant Indicated Mineral
Resource Estimate(i) of 4.9 million tons grading 15.8% graphitic carbon (Cgr) as
crystalline graphite with an additional Inferred Mineral Resource Estimate(i) 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Focus Graphite Inc.
Mr. Gary Economo
Chief Executive Officer
1-613-691-1091 ext. 101
geconomo@focusgraphite.com
www.focusgraphite.com
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