New York, NY / ACCESSWIRE / December 9, 2014 / Graphene 3D Lab Inc. (TSX-V: GGG, OTCQB: GPHBF) ("Graphene 3D, GGG") is pleased to announce that it has signed a Letter of Intent (LOI) to acquire Boots Industries Inc., ("Boots Industries"), a Canadian 3D printer manufacturer. The LOI highlights include Graphene 3D's intention to purchase all Boots Industries assets and to hire the team of Boots Industries in an all share transaction capped at $500,000 CA. Graphene 3D and Boots Industries' team plan to create a proprietary 3D printer with the capability of printing functional and electronic devices and optimized to maximize performance of Graphene 3D functional printing materials.
Founded in 2012 in Quebec City, Boots Industries is a key player in the Canadian 3D printing market. Boots' BI V2.0, a large-volume, fully featured 3D printer was positively received, with several hundred orders placed. Boots Industries has since made further innovations with its latest model, the BI V2.5.
Daniel Stolyarov, CEO of Graphene 3D commented, "The goal of Graphene 3D is to introduce a 3D printing ecosystem, including a 3D printer and functional materials, capable of printing operational and electronic devices." He continued, "The team at Boots Industries have been successful to date in the development and sale of high-quality 3D printers, and we have the utmost confidence in their team's capabilities to develop a multi-material printer optimized for Graphene 3D materials."
"We are enthusiastic about the opportunity to develop a 3D printer capable of printing operational devices with functional materials. The entire Boots Industries team is looking forward to working within the Graphene 3D team on the next revolution in 3D printing." said Jean Le Bouthillier, CEO of Boots Industries.
The LOI is exclusive and non-binding prior to the execution of a definitive agreement. Neither party may solicit similar transactions for the duration until closing of the transaction or for a period of 30 days in the event that the LOI is terminated prior to the closing. The LOI calls for an all share deal, capped at a valuation issuance of $500,000 CA common shares. The LOI anticipates the Boots Industries' development staff joining Graphene Lab's R&D team. It is anticipated the definitive agreement will be concluded in the first quarter of 2015 and will be subject to exchange and board approval.
About Graphene 3D
Graphene 3D Lab is in the business of developing, manufacturing, and marketing proprietary graphene-based nanocomposite materials for various types of 3D printing, including fused filament fabrication. The Company is also involved in the design, manufacture, and marketing of 3D printers and related products for domestic and international customers.
The Graphene 3D Lab facility is located in Calverton, NY and is equipped with material processing and analytical equipment. The company has three US patent applications pending for its technology. For more information on Graphene 3D Lab, Inc., visit www.graphene3dlab.com.
About Boots Industries
Boots Industries, located in Quebec City, Canada, develops fused filament fabrication delta 3D printers for retail sale. The company, founded in 2013, is committed to offering user-friendly, high quality 3D printers. Boots Industries latest model, the BI V2.5, is designed with 3D printing best-practices in mind, and offers an optional triple-head extruder.
For more information, please contact:
President & Chief Executive Officer
Telephone: (631) 405-5116
Telephone (631) 405-5114
FORWARD LOOKING INFORMATION
This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information in this news release includes statements about the potential acquisition of Boots Industries by Graphene 3D, and an LOI related to it.
In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, a 3D printer to be developed by Graphene 3D, assets to be acquired by Graphene 3D, and staff to be hired by Graphene 3D. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: either party choosing not to move forward with the acquisition of Boots Industries, for any reason.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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SOURCE: Graphene 3D Lab Inc