American Graphite Technologies Inc. Provides Corporate Update
Marketwired
LAS VEGAS, NV--(Marketwired - Sep 16, 2013) - American Graphite Technologies Inc. ("AGIN" or the "Company") (OTCBB: AGIN) and (BERLIN: A8G) (WKN:A1KBDQ/ISIN:US02640K1079) wishes to offer the following corporate update.
The Company recently completed a $600,000 brokered private placement of 4,000,000 units at $0.15 per unit consisting of one share and one share purchase warrant entitling the holder to purchase one additional share of common stock at $0.30 per share for a period of 5 years.
The CEO of the Company will be travelling to Kharkov, Ukraine this week to finalize the required paperwork for the 3D printing project, dubbed P-600, with the Kharkov Institute of Physics and Technology. The project is expected to commence October 1, 2013.
The company has contacted a consultant to get a budget established for the preliminary work on the Quebec mining claims, and will determine the program and the commencement date for an exploration project once the budget is presented to the Company.
CTI Nanotechnologies LLC (CTI) has informed the Company that the new building space in Vermont is coming into shape and they should start moving equipment and setting up the production line within the next thirty days.
About American Graphite Technologies Inc. American Graphite Technologies Inc. (OTCBB: AGIN) is a mineral exploration and technology development company that is listed on a US Stock Exchange where the Company's ticker symbol is AGIN and on the Berlin Stock Exchange under the following symbol: A8G (WKN:A1KBDQ/ISIN:US02640K1079). By concentrating on securing graphite mining opportunities and the commercialization of graphene specific proprietary technology methods, management is seeking to bring profitable opportunities and maximize shareholder value. Graphene has been described as the "miracle material" of the 21st Century and is believed to be stronger than steel and more conductive than copper while being flexible, making it plausible as a replacement over silicon possibly leading to thinner, faster, cheaper, more flexible devices including power sources. Since graphene comes from the carbon atom it is abundant and cheap. In 2010 the Nobel Prize in Physics was awarded to Andre Geim and Konstantin Novoselov for groundbreaking experiments regarding graphene. Advances in alternative energy technologies are driving demand for strategic materials like graphite that have recently evolved from industrial demands to include high tech uses as nations focus on encouraging the development of new domestic markets for clean and efficient energy alternatives, smart grid infrastructure and military capabilities.
About Science and Technology Centre in Ukraine ("STCU") The STCU is the first intergovernmental organization in Ukraine and was established by an Agreement signed on 15 October 1993, by the four founding Parties: Ukraine, Canada, Sweden and the United States of America. Through the STCU Partner Program, private companies, industry organizations, academic and non-government organizations, and government agencies and programs from Canada, European Union, and the USA may contract for research and development work with Azeri, Georgian, Moldovan, Ukrainian and Uzbek scientists and institutes. By virtue of the STCU's status as a diplomatically-accredited inter-governmental organization and because of its highly-qualified staff, Partners enjoy significant benefits including: (1) the professional support the STCU renders at the project development stage, and (2) having their projects administered by the STCU during the project implementation stage.
About Kharkiv Institute of Physics and Technology ("KIPT") Kharkov Institute of Physics and Technology ("KIPT"), being one of oldest and largest centers of physical science in Ukraine, was created in 1928 for the purpose of developing urgent lines of research (at the time -- nuclear physics and solid-state physics). After disintegration of the USSR the Institute is actively comprised in the process of creation of research complex of Ukraine, as well as in shaping policy and corresponding institutes of Ukraine in the field of atomic industry, nuclear energy, in the development of material science, accelerator equipment and new sources of energy for demands of civil and defense branches.
By the decree of the President of Ukraine in 1993 the Institute was given the status of the first in Ukraine National Science Center (the NSC KIPT), and Cabinet of Ministers of Ukraine confirmed, "Program on atomic science and technique of the NSC KIPT." According to the Decree, in the NSC KIPT on the basis of scientific departments were formed the Institute of Plasma Physics, the Institute of Solid-state Physics, Materials Science and Technologies, the Institute of Plasma Electronics and New Methods of Acceleration, the Institute of Theoretical Physics, the Institute of High-energy Physics and Nuclear Physics. Also there was created R&D Complex "Accelerator," the Technological Complex "Nuclear Fuel Cycle," Research-and-production Complex of Renewing Sources of Energy. Nearly 400 PhD and 80 Doctors of Sciences, 7 Members of National Academy of Sciences of Ukraine work at KIPT. More than fifty persons are the winners of State and Nominal Prizes. From 1981 more than 60 monographs have been written by the scientists of the NSC KIPT.
About the American Graphite Technologies Inc. and CTI Technologies LLC Agreement On January 25th 2013, the Company announced it has entered into a strategic partnership with a private US company CTI Nanotechnologies LLC. ("CTI") to further the development and commercialization of Graphene Paper. American Graphite has provided its initial funding as laid out in the agreement with CTI and will provide updates as they occur. CTI is working on the development and commercialization of Graphene Paper. The initial funding received by CTI from the Company will be used to acquire test and manufacturing equipment to enhance CTI's existing facility located in Vermont with the goal of developing a prototype production machine that makes Graphene Paper in larger and more affordable sizes than currently available.
Safe Harbor: Pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934, any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals and assumptions of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this release may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions such as "may," "could," or "might" occur. Such statements reflect the current views of CTI with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. American Graphite Technologies Inc. does not undertake any responsibility to update the "forward-looking" statements contained in this news release.
