Grafoid Closes Acquisition of Advanced Technology Developer ALCERECO Inc.

- October 3rd, 2014

Grafoid Inc., owned by Focus Graphite (OTCMKTS:FCSMF) has finalized its agreement for the acquisition of ALCERECO Inc.. ALCERECO focuses on the development, testing and production of advanced materials.

 Grafoid Inc., owned by Focus Graphite (OTCMKTS:FCSMF) has finalized its agreement for the acquisition of ALCERECO Inc.. ALCERECO focuses on the development, testing and production of advanced materials.

As quoted in the press release:

Under the terms of Agreement, Grafoid purchased all of the issued and outstanding shares of ALCERECO from the shareholders of ALCERECO in exchange for 250,000 common shares of Grafoid at a price of US$5.00 per share, for a total value of US$1,250,000.

Grafoid CEO, Gary Economo, said:

This acquisition builds great value into Grafoid’s vertically integrated business model. We now have the in-house engineering capabilities to take our graphene commercial developments to production. And, the addition of this vital downstream operational component enhances our competitive advantage as we move towards production.

Click here to read the Grafoid Inc. () press release
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