Focus Metals Inc.
TSX VENTURE : FMS

Focus Metals Inc.

March 02, 2011 17:13 ET

Focus Metals to Form Joint Venture to Develop Graphene Technologies

OTTAWA, ONTARIO--(Marketwire - March 2, 2011) - Mr. Gary Economo, President and CEO of Focus Metals Inc. (TSX VENTURE:FMS)("Focus" or the "Corporation") is pleased to be able to provide the following additional information regarding its planned joint venture to develop and exploit graphene applications announced in the press release issued on February 23, 2011.

The Joint Venture (the "JV") will be comprised of Focus (40%), a company controlled by Dr. Gordon Chiu (10%), a private Korean company (10%) and a private Hong Kong company (40%) (collectively, the "JV Partners"). As a start-up, the JV will initially have no assets. The JV Partners will fund the JV's operations based upon their pro-rata interests in the JV. The operational and other details of the JV have yet to be finalized; however, Focus believes the first-year budget for the JV will be approximately $300,000. All intellectual property derived from the JV's operations will be held in the JV. 

Dr. Gordon Chiu will act as the JV's Chief Scientist and Managing Director. As announced in the Prior Release, Dr. Chiu will be responsible for building the JV's portfolio of graphene intellectual property, with an emphasis on graphene technologies for aviation and defence applications.

The JV will conduct research into graphene applications and work with universities and other private and public research facilities to identify graphene applications with commercial potential. Once identified, the JV intends to license the intellectual property rights to such graphene applications and then work to commercialize such applications through license arrangements with industry.

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.

With what Focus believes to be one of the highest quality, highest concentrations (17%) natural flake graphine properties in the world located at its Lac Knife, Quebec property, the JV fits squarely into its strategic plan.

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