LAS VEGAS, NV--(Marketwired - May 9, 2013) - Centaurus Diamond Technologies Inc., (the "Company" or "Centaurus") (
US Patent 7,854,823 entitled, "Synthesis of Diamond by Extraction of a Pulse Derived from the Abrupt Collapse of a Magnetic Field", was issued on December 21, 2010. This technology, a process for converting carbonaceous material into diamond, utilizing the compressive force derived from an abruptly collapsing magnetic field, has to date made diamonds of varying size, quality, and color.
The Magnatek diamond manufacturing process has met and in some areas exceeded corporate mandates regarding the ability to produce diamonds over the recent phase of development (4th Qtr 2012 - 1st Qtr 2013).
Mr. Wayne Prentice, President and COO of Centaurus Diamond Technologies confirmed the current experimentation phase of the firm ends this May.
Reorganization of the company and financial options currently available are under consideration in order to meet the future known requirements over next phase of development for Centaurus to gain greater control, continue experimentation and development of Magnetek.
The Magnatek apparatus and all its support tooling and logistic train, it has been decided, should be moved to Las Vegas, Nevada, at the earliest possible opportunity to facilitate the increased supervision by Mr. Alvin A. Snaper, Chairman, and Chief Science Officer during next phase of development. Up to three Magnatek units shall reside in Las Vegas, Nevada upon completion of relocation and the reactivation of system activity for production and experimentation.
Centaurus Diamond Technologies has historically relied on the Magnatek systems' full operation and support located in Rhode Island as per an agreement signed on July 17, 2012 on the Centaurus' diamond technology (Magnatek).
Anticipating relocation, the firm has completed due diligence into additional financial requirements for staffing and plant expansion. Centaurus Diamond Technologies Inc., is a diamond technology company and is in the process of developing an innovative new diamond production technology.
Centaurus Diamond Technologies Inc., presently is in the black financially and has laboured dutifully towards the rollout of new and unique diamond products.
Our remaining efforts include most pointedly the engineering of sensors and electronic suites that can gauge and properly measure the forces within the Magnetek process. This achievement has eluded us yet does not prohibit the manufacture of diamonds using Magnatek. Therefore Centaurus Diamond Technologies Inc., is now committed to redoubling the effort and funding to achieve our instrumentation needs using our own Patented Plasma Vapor Deposition technology in concert with other proven technologies.
All of this began in 2006, when a sample "created" diamond was sent to the Gemological Institute of America (GIA). The resultant report #14882271 re-confirmed the product to be diamond following the identification by an independent outside consultant. The Gemological Institute of America (GIA) is the world's foremost authority on diamonds, colored stones and pearls. GIA exists to protect all purchasers of gemstones, by providing the education, laboratory services, research and instruments needed to accurately and objectively determine gemstone quality. For more information on the GIA visit http://www.gia.edu.
Recently, The World Federation of Diamond Bourses (WFDB) called for a meeting on the issue of 'undisclosed synthetic diamonds'. The meeting, held in Las Vegas, included leading parties of the International Diamond Manufacturers Association (IDMA), the Diamond Trading Company (DTC) and leading diamond certification laboratories. It was decided that all would join efforts to preserve the transparency of the diamond trade for the benefit of the global business to ensure that consumers can receive full disclosure about the diamonds they purchase. Centaurus Diamond Technologies' is dedicated to the full disclosure and regulations that protect the public through laser inscription, trademarks, identification technologies, to separate man-made, "created" and "synthetic" diamonds origin from natural diamonds.
About Centaurus Diamond Technologies
Centaurus has been established to fully commercialize its proprietary, cost-efficient and high-volume diamond production method to provide industrial quality diamonds. The Company's patented technology enables the production of "cultured" diamonds that are chemically, atomically and structurally identical to natural diamonds. The Gemological Institute of America has tested the Company's "cultured" diamonds and has confirmed they are diamonds according to their testing protocols.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Exchange Act. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements typically involve risks and uncertainties and actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.