ZEN Graphene Solutions is pleased to announce the grand opening of its Guelph facility on March 3, 2020. The facility will be used for small scale pilot plant production to produce future Albany Pure TM graphene products as well as further research and development work. All shareholders and interested parties are invited to attend. The Guelph facility is located at 24 Corporate Court, Guelph, Ontario. The opening will start at 1pm with an opportunity to meet with management, look at the lab facilities and attend a formal presentation at 3pm.
The company is currently sourcing and purchasing the necessary equipment to build a small-scale graphite purification pilot plant that will produce 99.8% high-purity graphite from the flotation concentrate (86%). James Jordan, P.Eng., has been promoted to Chief Operating Officer and will be leading the work at the facility.
"This new facility will move the Company towards the production and sale of Albany Pure TM graphene products and introduce our high-quality nanomaterials to the market. Albany Pure TM will be our marketing seal to identify that all our products are sourced from the Albany deposit. We look forward to bringing our nanomaterials including Graphene Quantum Dots, Graphene Oxide, reduced Graphene Oxide and Graphene to the market." Stated Francis Dubé, CEO.
As the Company moves forward towards graphene production and applications development, ZEN is pleased to announce that Colin van der Kuur has been appointed as Head of Research for ZEN, and Monique Manaigre has been appointed as Senior Government Relations and Account Manager for ZEN.
On May 8, 2019, ZEN was awarded a $1,000,000 grant that has allowed the Company to accelerate its graphene-enhanced concrete research and development project. To date, the Company has received a total of $465,000 in reimbursement payments related to this grant as ZEN continues its research into graphite purification, graphene production research, concrete additive research and large-scale graphene-enhanced concrete testing.
Shares for Debt Settlement
ZEN announces the issuance of shares in connection with its previously announced shares for debt agreement with Alphabet Creative. The Company issued 47,222 common shares at a deemed price of $0.36 per common share in settlement of a debt of $17,000 owed by the Company. The common shares issued in connection with the shares for debt agreement will be subject to a hold period until May 1, 2020 in accordance with applicable securities laws.
Issuance of Broker Warrants
Further to the Company's previously announced closing of its private placement of flow-through common shares, an aggregate amount of $54,840 in finders' fees as well as an aggregate amount of 137,100 broker warrants were paid to certain brokers in connection to the offering. These broker warrants expire on December 19, 2021 and have an exercise price of $0.50 per warrant share.