MONTREAL, Sept. 10, 2019 (GLOBE NEWSWIRE) -- NanoXplore Inc. (“NanoXplore” or the “Corporation”) (TSX-V: GRA and OTCQX: NNXPF) is pleased to announce that on September 9th 2019, Mason Graphite Inc. (“Mason Graphite”) (TSXV: LLG and OTCQX: MGPHF) sold its entire NanoXplore ownership position that resulted in a transaction of 22,188,333 shares to a group of buyers that included Martinrea International Inc. (“Martinrea”) (TSX: MRE and OTCQX: MRETF), Caisse de dépôt et placement du Québec, and Investissement Quebec.
As of today, Martinrea holds 30,199,800 shares of NanoXplore which represents approximately 25% of the total outstanding shares of the Corporation.
Soroush Nazarpour, CEO of NanoXplore, commented on the change in the Corporation’s ownership: “We are excited to welcome Investissement Quebec (investment arm of the Quebec government) and Caisse de dépôt et placement du Québec as new shareholders of the company. We are also thrilled that Martinrea has decided to further increase its shareholder position. We continue to strategically develop graphene-related solutions that will drastically separate Martinrea from the rest of the competition within the automotive space. We would like to thank Mason Graphite for all their support over the last few years and we will continue with our relationship as NanoXplore expands its graphene production capabilities. Mason Graphite’s decision was a necessary step to further progress the development of its mining project and we wish Mason’s management team future success”.
About NanoXplore Inc.
NanoXplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in industrial markets. NanoXplore provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics, and other industrial sectors. NanoXplore is headquartered in Montreal, Quebec with nearly 400 employees supporting manufacturing facilities across Canada, the U.S., and Switzerland.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “expected” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the Corporation’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information contained herein, except as required by applicable securities laws.
For more information, please contact:
Vice President of Corporate Development
+1 (647) 302-2234