|By Marketwired .||
|June 10, 2014 03:49 PM EDT||
OTTAWA, ONTARIO -- (Marketwired) -- 06/10/14 -- Grafoid Inc. wishes to correct the information regarding the currency of the consideration paid to the shareholders of ALCERECO Inc. for the purchase of all the issued and outstanding shares of ALCERECO. Grafoid will purchase all of the issued and outstanding shares of ALCERECO from the shareholders of ALCERECO in exchange for 250,000 common shares of Grafoid at a price of US$5.00 per share, for a total value of US$1,250,000 for this transaction, instead of a price of CAD$5.00 per share, for a total value of CAD$1,250,000 as incorrectly indicated in the news release issued yesterday (please refer to Grafoid's press release dated June 9, 2014 for more information on the transaction).
About ALCERECO Inc.
ALCERECO Inc. was formed by a group of partners with extensive backgrounds in advanced materials, new product development and commercialization. The company has connections to global value chains for both supply and applications.
ALCERECO's combined experience includes management positions in large chemicals and light metal companies, industrial research in metal and mining technology, successful new product commercialization, and designing and building new processing facilities.
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 significant interest in Grafoid on behalf of its shareholders.