Vancouver, British Columbia and New York, NY — Graphene 3D Lab Inc. (formerly, MatNic Resources Inc.) (TSXV: GGG) (“Graphene 3D” or the “Company“), a Tier 2 issuer listed on the TSX Venture Exchange (the “Exchange“), today announced that further to the Company’s press releases dated April 10, April 24, June 13, 2014, and July 14, 2014, the parties have completed the acquisition of Graphene 3D Lab (U.S.) Inc., formerly Graphene 3D Lab Inc. (“Graphene US“), a private corporation organized under the laws of Delaware, USA (the “Transaction“). A final filing statement relating to the Acquisition has been filed on SEDAR. The Transaction was completed through an exchange of securities with all of the securityholders of Graphene 3D, which constituted a reverse take-over and change of business of the Company. The Company expects to commence trading of its common shares on the Exchange under the new ticker symbol ‘GGG’ on August 11, 2014 or shortly thereafter.
In connection with the Transaction, the Company issued 25.6 million common shares (the “Exchanged Shares“) and share purchase warrants to acquire a further 4.5 million common shares at $0.07 per share until March 25, 2017 (the “Exchanged Warrants“). Of the Exchanged Shares issued, 21.1 million shares are subject to Form 5D surplus securities escrow restrictions, with an immediate release of 5%, and further installments every 6 months for the next 3 years. The other 4.5 million Exchanged Shares are subject to the Exchange’s seed share resale restrictions, with an immediate release of 20% and further installments of 20% every three months over the next year. Any common shares issued upon exercise of the Exchanged Warrants within the first four months from the closing date will be subject to the Exchange’s seed share resale restrictions, with an immediate release of 20% and further installments of 20% every month over the next four months.
The Company also completed a private placement of 7.2 million common shares (the “Shares”) at an offering price of $0.25 per Share to raise gross proceeds of $1.8 million. The Company paid cash finder’s fees to certain arm’s length finders, equal to 7% of the gross proceeds. The net proceeds of the offering will be used for the further development of Graphene US’s business activities (see “About Graphene 3D” below for further details) and for general working capital requirements. The Shares will be subject to a four month hold period until December 9, 2014. For further details concerning the Transaction, please see the Company’s filing statement on SEDAR (www.sedar.com) under the Company’s profile.
Except for statements of historical fact, all statements in this press release, including, but not limited to, statements regarding future plans, objectives and payments are forward-looking statements that involve various risks and uncertainties.
About Graphene 3D
Graphene 3D is BC company whose common shares are listed on the TSX Venture Exchange, which now owns all of the issued and outstanding shares of Graphene US, a private Delaware corporation, organized on September 3, 2013. Graphene US is in the business of developing, manufacturing, and marketing proprietary polymer nanocomposite graphene-based materials for various types of 3D printing, including fused filament fabrication as well as the design, manufacture and marketing of three-dimensional printers and products for worldwide customers, including in the aerospace and automotive industries, manufacturers of medical prosthetics and the military. Graphene US currently has two US patent applications pending for its technology. For more information on Graphene 3D Lab, Inc, visit www.graphene3dlab.com
For more information, please contact:
President & Chief Executive Officer
Telephone: (631) 405-5116
Investor Relations Coordinator
Telephone (631) 405-5114