VANCOUVER, British Columbia, June 14, 2021 (GLOBE NEWSWIRE) — Ceylon Graphite Corp. (“Ceylon Graphite”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) is pleased to announce that it has acquired an exclusive global licence from Cambridge Advanced Materials & Innovation (“CAMI”). The licence pertains to a method of producing high quality few-layer graphene (“FLG”) and derivatives by exfoliation of high grade vein graphite produced by Ceylon Graphite (“The Technology”).
This is a low-energy process which results in high-yield, few layer graphene products. This industrial process is already fully designed for large volume production, and is scalable, with modules added as demand increases. Upon completion of the licence agreement, Ceylon Graphite has gained full access to all intellectual property surrounding The Technology and know-how. Use of Ceylon’s high-grade feedstock material- vein graphite – leads to minimal to nil industrial waste during the production of graphene. The combination of unique raw materials and eco-friendly, low-cost production process, places Ceylon in a position to offer high quality graphene products at an attractive price.
The graphene market has been growing at a significant rate, and a number of potential customers have indicated their interest in joint development and/or collaboration in graphene product applications. Ceylon has commenced its graphene product validation in a myriad of industrial applications. In particular, use of resultant graphene in Silicon additive utilization technology for Li-ion batteries is shown to be promising. This opens up a whole new technology area for Ceylon Graphite’s value added product range.
Ceylon CEO, Don Baxter stated, ”I am excited for Ceylon to have this technology. In the past talk of graphene has always been on a micro scale and issues around production of large quantities was always a hurdle to overcome. Ceylon has acquired an industrial scale process that will allow us to utilize graphene additives in commercial applications developed by Drs Siva and Mallika Bohm. The onset of the EV revolution has provided an opportunity for Ceylon to contribute in a meaningful way, through enhancements to the graphite anode in a lithium ion battery.”
Donald K.D. Baxter, P. Eng. is a Qualified Person under National Instrument 43-101 and has reviewed and approved the technical information provided in this news release.
About Ceylon Graphite Corp.
Ceylon Graphite is a public company listed on the TSX Venture Exchange, that is in the business of mining for graphite, and developing and commercializing innovative graphene and graphite applications and products. Graphite mined in Sri Lanka is known to be some of the purest in the world and has been confirmed to be suitable to be easily upgradable for a range of applications including the high-growth electric vehicle and battery storage markets as well as construction, healthcare and paints and coatings sectors. The Government of Sri Lanka has granted the Company’s wholly owned subsidiary Sarton Development (Pvt) Ltd. an IML Category A license for its K1 mine and exploration rights in a land package of over 120km². These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka.
Further information regarding the Company is available at www.ceylongraphite.com
Don Baxter, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
FORWARD LOOKING STATEMENTS:
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes statements about Ceylon Graphite’s grids, Ceylon Graphite’s plans to undertake additional drilling and to develop a mine plan, and to commence establishing mining operations. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to Ceylon Graphite, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various Local Government Licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, an inability to reach a final acquisition agreement, inaccurate results from the drilling exercises, a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents, an inability to access financing as needed, a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Ceylon Graphite, a failure to comply with environmental regulations and a weakening of market and industry reliance on high quality graphite. Ceylon Graphite cautions the reader that the above list of risk factors is not exhaustive.