TSX-V: GGG, OTCQB: GPHBF
NEW YORK, NY, Feb. 17, 2015 /CNW/ - Graphene 3D Lab Inc. (TSX-V: GGG, OTCQB: GPHBF) ("Graphene 3D, GGG, the Company") is pleased to announce that it has entered into a contract agreement with ZeGo Robotics LLC ("ZeGo") of Pittsburgh, Pennsylvania, to develop a proof-of-concept 3D printer. The prototype machine will be specifically designed to print with the company's conductive graphene filament and other functionally-enhanced composite materials.
The prototype, which ZeGo aims to deliver in 3 months, will be considered work for hire and will be owned by Graphene 3D Lab. Rights to the intellectual property created during the contracted timeframe will be assigned to Graphene 3D. Graphene 3D will also be granted a perpetual, royalty-free license to use any pre-existing ZeGo intellectual property integrated into the machine.
Graphene 3D Lab CEO, Daniel Stolyarov, commented, "Graphene 3D Lab believes the development of a 3D printer uniquely designed to capitalize on our functional filaments is core to achieving our goal of developing a dynamic ecosystem to allow the 3D printing of operational devices. ZeGo Robotics is an exciting and innovative company and we look forward to working with their team."
Daniel Goncharov, owner of ZeGo Robotics, also commented, "This is an exciting opportunity for ZeGo Robotics to collaborate with Graphene 3D Lab's research and development arm; the project will combine our expertise in the development of 3D printers with their expertise in specialty printing materials to develop a groundbreaking new product."
The Company is confident that the proof-of-concept machine contracted by ZeGo will have an optimal turnaround time and will maximize long-term benefits for Graphene 3D Lab. In light of this development, Graphene 3D will no longer be moving forward with the acquisition of Boots Industries, previously announced on December 9, 2014.
About Graphene 3D
Graphene 3D Lab is in the business of developing, manufacturing, and marketing proprietary graphene-based nanocomposite materials for various types of 3D printing, including fused filament fabrication. The Company is also involved in the design, manufacture, and marketing of 3D printers and related products for domestic and international customers.
The Graphene 3D Lab facility is located in Calverton, NY and is equipped with material processing and analytical equipment. The company has three US patent applications pending for its technology. For more information on Graphene 3D Lab, Inc., visit www.graphene3dlab.com.
This news release contains "forward-looking information" within the meaning of applicable securities laws. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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SOURCE Graphene 3D Lab Inc.
For further information: Commercial Inquiries: Daniel Stolyarov, President & Chief Executive Officer, Telephone: (631) 405-5116, Email: firstname.lastname@example.org; Investor Inquiries: Investor Relations, Telephone (631) 405-5114, Email: email@example.com