Grafoid Appoints Thomas H. Cruikshank, Former Chairman and CEO of Halliburton, as Strategic Advisor
April 8, 2014 (Source: Marketwired) — Mr. Gary Economo, Chief Executive Officer of Focus Graphite Inc., (TSX VENTURE:FMS) (OTCQX:FCSMF) (FRANKFURT:FKC) and CEO and Founding Partner of Grafoid Inc. (“Grafoid” or the “Company”) announced today the appointment of Mr. Thomas H. Cruikshank as a strategic advisor to Grafoid.
Focus Graphite Inc. holds a substantial equity interest in Grafoid Inc. on behalf of its shareholders representing 19%.
Grafoid, with R&D and production facilities in Singapore, Canada and the United States, is an advanced, complete solutions graphene technologies company. Grafoid deems MesoGraf™ the global standard for high-energy density graphene from a globally patented process. That process uniquely transforms raw, unprocessed graphite ore to affordable and scalable, high-purity few layer graphene.
“We are extremely pleased to welcome Mr. Cruikshank, his participation and his guidance in Grafoid’s future development,” said Mr. Economo. “As a graphene technologies company with a growing global presence, Mr. Cruikshank’s participation will assist us with our business development and expansion into critically important United States’ markets.
“Mr. Cruikshank’s business acumen, coupled with his extensive global corporate experience as Chairman and CEO of a Fortune 200 corporation, affords Grafoid a competitive edge, as we advance our near-market-ready MesoGraf™ applications. We are very fortunate to have Mr. Cruikshank on our team,” Mr. Economo said.
Mr. Cruikshank served as Chief Executive Officer of the Halliburton Company from 1983 to 1995, where he also served as Halliburton’s President from 1983 to 1989 and Chairman from 1989 to 1995. Mr. Cruikshank joined Halliburton in 1969 and served as a Director from 1977 to 1996.
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Founded in 1919, Texas-based Halliburton is one of the world’s largest providers of products and services to the energy industry, with more than 75,000 employees, representing 140 nationalities in more than 80 countries. The Honorable Richard (Dick) B. Cheney – who later served as the 46th Vice President of the United States of America – succeeded Mr. Cruikshank as Chief Executive Officer and subsequently, Chairman of Halliburton in October 1995.
Mr. Cruikshank’s distinguished business career spans over 50 years. Prior to joining Halliburton, Mr. Cruikshank was a manager with the accounting firm Arthur Andersen & Co and, after serving his country as an officer in the United States Navy at the end of the Korean War, joined the international law firm Vinson & Elkins where he became a Partner.
Mr. Cruikshank has served on the Board of Directors for a number of high-profile public companies, including The Goodyear Tire & Rubber Company, The Williams Companies, Inc., Seagull Energy Corporation, Central and South West Corporation, and Lehman Brothers Holdings Inc. Mr. Cruikshank’s Directorships also included the American Petroleum Institute and the Petroleum Equipment Suppliers Association, as well as several nonprofit organizations, such as Junior Achievement, Up with People, Rice University and the California Institute of Technology. He holds a degree in Business and Economics from Rice University and attended the University of Texas and the University of Houston law schools.
“Graphene is a fascinating yet complex material with incredible developments underway, especially in the areas of energy storage, graphene polymers and in particular, non-invasive cancer eradication therapies,” said Mr. Cruikshank.
“I feel that Grafoid has considerable advantages with its MesoGraf™ functional graphene materials and is certainly significantly ahead of everyone else in the broad spectrum of next-generation applications currently being developed. Under the strategic leadership of Mr. Economo and Dr. Gordon Chiu, I believe Grafoid’s future is exceptionally promising. I am honored by this unique opportunity to participate in, and be a part of such an accomplished, progressive company advancing towards the commercialization of a cutting-edge disruptive technology.
“Manufacturing and industry are under the misguided notion that high-purity graphene cannot be produced on a large commercial scale and, as importantly, at a commercial cost that is acceptable for widespread graphene adoption. MesoGraf™ successfully addresses and overcomes those challenges right now – not decades down the road, like many believe. Grafoid brings world-leading expertise in graphene, resolves scalability issues, tailors graphene for specific applications, and provides solutions for commercial success,” added Mr. Cruikshank.
About Grafoid Inc.
Grafoid Inc. is a privately held Canadian corporation investing in MesoGraf™ high-energy density graphene applications and economically scalable production processes for pristine bilayer and trilayer graphene and MesoGraf™ derivatives from raw, unprocessed, graphite ore. The company is engaged in the development of graphene patent joint ventures globally, in the areas of renewable energy, advanced polymer materials, biomedicine, thermal dispersion technologies, coatings and a number of classified material development projects. Focus Graphite Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) holds a substantial equity interest in Grafoid Inc. on behalf of its shareholders representing 19%.
About Focus Graphite Inc.
Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. Focus is the owner of the Lac Knife graphite deposit located in the Côte-Nord region of northeastern Québec. The Lac Knife project hosts a NI 43-101 compliant Indicated Mineral Resource Estimate* of 4.9 million tons grading 15.8% graphitic carbon (Cgr) as crystalline graphite with an additional Inferred Mineral Resource Estimate* of 3.0 million tons grading 15.6% Cgr of crystalline graphite. Focus’ goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. On October 29th, 2012 the Company released the results of a Preliminary Economic Assessment (“PEA”) of the Lac Knife Project which indicated that the project has a very good potential to become a graphite producer. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus also invests in the development of graphene applications and patents through Grafoid Inc.
The technical information presented in this news release has been reviewed by Don Baxter Baxter, P.Eng, President and Chief Operating Officer of Focus Graphite Inc., and a Qualified Person under National Instrument (NI) 43-101 guidelines.
Forward Looking Statement
This presentation contains “forward-looking information” within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits;
(v) the risk associated with establishing title to mineral properties and assets; (vi)the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; (x) access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the resulting issuer; (xii) the risks associated with the various environmental regulations the resulting issuer is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through the issue of common shares; (xviii) the Company does not anticipate declaring dividends in the near term; (xix) the risk of litigation; and (xx) risk management. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company’s business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this news release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.