Mason Graphite acquires graphene processing technology and forms joint venture with Thomas Swan

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Mason Graphite Inc (TSX-V:LLG, OTCQX:MGPHF) said it has agreed to purchase strategic assets related to a patented graphene processing technology from the UK specialty chemical company Thomas Swan & Co Limited through a joint venture company to be named Black Swan Graphene Inc.


Mason Graphite and Thomas Swan will own 66.67% and 33.33%, respectively, of Black Swan Graphene, which is expected to go public in the coming months.


Shares of Mason Graphite surged more than 24% to $0.67 in late afternoon trading Monday following the announcement.


“Graphene is no longer theoretical, but undergoing a transformative progress in applications, production, and commercialisation,” Mason Graphite chairman Fahad Al-Tamimi said in a statement.


“Yet very few companies are able to produce high performance graphene at a cost sufficiently low to penetrate industrial markets; I believe Black Swan Graphene will be one of them,” Al-Tamimi added.


“Not only this new venture is expected to create meaningful graphite demand and is therefore a natural extension of the Lac Gueret graphite project, but it truly transforms the company’s potential as it elevates Mason to a preeminent position within the fastest growing segment of the carbon industry.”


Thomas Swan CEO Harry Swan also commented, stating: “After a thorough review of the carbon industry and a long discussion process with several market participants, we are very excited to start this new venture with Mason Graphite, which is advancing a unique graphite project, developing a broad range of carbon-related products, and working with several high-profile technical partners.”


“This partnership creates a more efficient supply chain, which will solidify and accelerate the deployment of our graphene processing technology within a burgeoning industry.”


Mason Graphite noted the graphene processing technology acquired allows for the production of high-performance graphene at a cost sufficiently low to encourage rapid commercial penetration in industrial applications requiring large volumes of graphene.


It added that graphene can be used to strengthen polymers with applications in the lightweighting of the transportation industry.


The company also said the graphene produced by Thomas Swan has undergone thorough customer testing and qualification processes by globally-recognized companies, such as for use in mobile handsets, and is expected to be widely used in “off-the-shelf” products in the near future.


Black Swan Graphene aims to establish a large-scale commercial production facility in Quebec, to leverage the province’s competitive and green hydroelectricity, as well as the proximity of Mason Graphite’s planned production sites.


Mason Graphite will pay GBP3 million to Thomas Swan for its technology and also invest C$2.5 million in Black Swan Graphene for working capital purposes.


As well, Mason Graphite announced that Lucky Minerals (TSX-V:LKY, OTC:LKMNF) Inc CEO Francois Perron will join the company’s board of directors effective immediately.


—Updates for share price—


Contact Sean at [email protected]

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