The Conversation (0)
(TheNewswire)
Focusing on air purification products, plus debt facility and stock option grant
G6 Materials Corp. ("G6" or the "Company") (TSXV:GGG ) ( OTC:GPHBF) a technology company and world-leader in creating value through innovative graphene-based solutions is pleased to provide the following business update regarding G6's ongoing sale of air purification products, its recently announced debt facility as well as the board's grant of stock options
Air Purification Products
This year, the Company's research and development team developed a graphene-based technology to create a proprietary, enhanced air filtration system (the "Enhanced Air Filtration System"). Subsequently, a provisional patent application was filed to protect the intellectual property ("IP") rights for this technology.
Throughout the process of bringing the Enhanced Air Filtration System to market, G6 will strive to provide timely updates to shareholders and stakeholders in accordance with the following milestones:
- Completing product design
- Awarding the manufacturing contract
- Receiving the hardware and chemically processing the graphene-based materials
- Generating initial revenues from these products
- Leveraging this IP into licensing arrangements, research projects, etc.
Debt Facility
The Company recently announced that it has entered into a loan agreement with an arm's length third-party company, pursuant to which G6 can now draw up to an aggregate principal amount of US$1.0 million dollars on an unsecured basis for a one-year term. Any principal amounts drawn under the facility will accrue interest at a rate of 5.0% per year. The loan can be used for any general working capital need, however, the Company expects to use the proceeds to more specifically fund, in whole or in part, a new production facility, incremental human resources as well as ongoing research and development.
Stock Option Grant
The board of G6 recently granted incentive stock options (the "Options") to acquire an aggregate amount of 5,100,000 common shares ("Common Shares") of the Company at an exercise price of $0.08 per share, being equivalent to the closing price of the Company's shares on the TSX Venture Exchange on October 14, 2020. Options to acquire 2,700,000 Common Shares were granted directly or indirectly to officers and directors of the Company, while Options to acquire 2,400,000 Common Shares were granted to other employees, consultants and service providers of the Company. The Options vest immediately and expire five years from the date on which they were granted.
About G6 Materials Corp.
G6 Materials Corp. is a technology company and world-leader in creating value through the development of innovative graphene-based solutions. The Company is strategically focused on serving the global air filtration and purification market with new products to meet growing demand. G6 also sells a range of graphene-based products and other materials, including but not limited to 3D printing materials, conductive epoxies, fine chemicals, high performance composites and R&D materials, with numerous customers from among the Fortune 500 list of companies, as well as NASA and leading universities.
G6 has identified new graphene-based applications to accelerate growth into the future. Accordingly, the Company has a valuable IP portfolio currently comprised of three granted patents, three provisional patents and five patent applications filed. The Company's management team and employees have a deep understanding of graphene technology based on decades of aggregate academic and commercial experience. Located in Ronkonkoma, New York, its premium research laboratory and scalable production facility is equipped with advanced analytical and material processing equipment.
The Company's e-commerce websites are listed below:
- 3D Printing: 3D printable filaments can be purchased at BlackMagic3D.com
- Conductive Epoxies: Adhesive materials distributed under the G6-Epoxy TM trade name and can be purchased at g6-epoxy.com
- Fine Chemicals: ChemApproach is a worldwide supplier of a wide variety of unique chemical building blocks, which can be found at chemapproach.com
- R&D Materials: Graphene Laboratories Inc. currently offers over 100 graphene and related products available at Graphene-Supermarket.com
Forward-Looking Information
This news release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate," "believe," "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the risks associated with outstanding litigation, if any; risks associated with adoption by industries of graphene-based products health and environmental factors affecting adoption of these technologies; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to U.S. shareholders. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates, and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements. Albeit the operation of newly suggested products are based on strong scientific evidence, the Company cannot guarantee the performance parameters of the new products and their efficiency against the specific microbes including all types of viruses and bacteria until testing is completed. Further, the Company can not guarantee any outcomes of such testing.
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 news release.
Commercial Inquiries
Daniel Stolyarov, President & CEO
Telephone: (631) 405-5113
Email: daniel.stolyarov@graphene3Dlab.com
Investor Inquiries
G6 Investor Relations
Telephone: (631) 405-5114
Email: investors@graphene3Dlab.com
ON BEHALF OF THE BOARD: Daniel Stolyarov, President & CEO
SOURCE: G6 Materials Corp.
For more information on G6 Materials Corp., please visit www.G6-Materials.com or its profile page on SEDAR at www.sedar.com.
Copyright (c) 2020 TheNewswire - All rights reserved.
