Focus Metals Inc.
TSX VENTURE : FMS

Focus Metals Inc.

February 23, 2011 09:55 ET

Focus Metals Forms Graphene Patents and Technologies Joint Venture

OTTAWA, ONTARIO--(Marketwire - Feb. 23, 2011) - Mr. Gary Economo, President and CEO of Focus Metals Inc. (TSX VENTURE:FMS) ("Focus" or the "Corporation"), is pleased to announce its intention to form a U.S.-Canada-Asia joint venture to develop, patents and secure global rights for applications of graphene technologies.

The new enterprise, to be based in New York City, will be a joint venture between Focus Metals Inc. and its U.S., Canadian and Asian partners. "Focus is bound by a non-disclosure agreement while it negotiates and settles the terms of the joint venture with its joint venture partners."

Mr. Economo also announced the appointment of Dr. Gordon Chiu who will act as the new venture's Chief Scientist and Managing Director. Dr. Chiu will be responsible for building the new company's portfolio of graphene-based applications, with a particular interest in the development and acquisition of aviation and defence applications.

Dr. Chiu has 15 years combined experience in biomedical, chemical, cosmetic, medical and technology industries. He worked as a research scientist with Pfizer Inc. and Merck & Co., and has a distinguished profile in U.S. markets.

"This is a significant development for Focus Metals Inc.," Mr. Economo said. "Our global joint venture fits squarely and perfectly with our corporate vision to build commercial value from our graphite processing foundation.

"The world of scientific research is currently dominated by the development of graphene applications – from electron-microscopic imaging for medical diagnostics, to stealth military applications to nanotechnology-based supercomputers," Mr. Economo added.

"We see no end to the future of graphene development, and, given our company's source, see a long-term benefit by moving now to capturing ownership of patent values," Mr. Economo said.

Graphene is a carbon allotrope extracted from graphite. Its superconductive electrical features and super strength are expected to spawn a revolution in new technologies based on a panoply of chemically and naturally-induced by-products.

Focus Metals Inc. owns one of the world's highest quality, highest concentrations (17%) natural flake graphite at its Lac Knife, Quebec, property.

Dr. Chiu comments, "Graphene is a form of carbon. As a material it is completely novel – not only is graphene the thinnest material known in science but it is also the strongest. As a conductor of heat, graphene outperforms all currently known materials. It is nearly transparent yet so dense that not even helium, the smallest gas atom, can pass through it. For the layperson, while diamonds are a coveted jewellery allotrope of carbon, graphene is very much the game-changing allotrope of carbon achieving recent accolades such as the 2010 Nobel Prize in Physics. As a combination, it is potentially more applicable than copper because when graphene is mixed into plastics, the resultant material turns into a conductor of electricity while being more heat resistant and mechanically robust."

"It is a tremendous opportunity and honour to be establishing strategic domestic and international relationships for a company with such a prized asset. I look forward to working with Focus Metals Inc. and Mr. Economo." states Dr. Chiu.

The European Union considers graphite a critical/strategic mineral. China controls more than 70% of the current global supply of industrial graphite and is a net importer of technology-grade natural flake graphite.

The U.S. commercial technology sector and some government officials are concerned about China's dominance over graphite production. U.S. lawmakers have some concern about graphite's future supply chain, price, and the potential implications for national and industrial security of supply.

Profile

Focus Metals Inc. is an emerging mid-tier junior mining exploration company with excellent discovery stage base metals and industrial minerals opportunities in Quebec. A determined management team with extensive mining business experience lead the Corporation. 

This News Release may contain or refer to "forward-looking statements" which reflect Management's expectations regarding the Company's future growth, results of operations, performance and business prospects and opportunities. These statements reflect Management's current beliefs at the time of this news release and are based on information currently available to Management. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Management's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. While the Company anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Focus Metals Inc.
    Gary Economo
    President and Chief Executive Officer
    613-691-1091 Ext.101
    gary@focusmetals.ca