Ceylon Graphite Announces the Incorporation of a United Kingdom Subsidiary
19 July 2021 - 9:15PM
Ceylon Graphite Corp. (“Ceylon”) (TSX-V: CYL) (OTC: CYLYF) (FSE:
CCY) is pleased to announce the incorporation of its wholly-owned
subsidiary, Ceylon Graphite Technologies LTD (“CGT”), in the United
Kingdom.
The objective of CGT is to develop innovative
applications for value added graphite and graphene in multiple
market segments, focussing on battery anode graphite as Europe
drives forward into vehicle electrification. Ceylon will continue
to build-out its production capacity in Sri Lanka for high-quality,
low-cost graphite from its mines, while CGT develops new patents
for graphite beneficiation and purification for battery grade
primarily for use in high-margin anode improvements for the
electric vehicle (EV) and energy storage markets and graphene
applications.
The UK is home to leading global research and
technology advancement in graphite applications and is also where
Ceylon’s Chief Scientific Executive, Dr. Siva Bohm, and Technical
Director, Dr. Mallika Bohm, are located. As such, CGT will be able
to maximize affiliations with local academic and industrial
research organisations such as Warwick Manufacturing Group (WMG),
Imperial College, University College London (UCL)-APL &
Graphene Engineering Innovation Centre (GEIC) Manchester. The
alliance with WMG/ U.K. Battery Industrialisation Center (U.K.-BIC)
will expand CGL’s potential for significant growth in the field of
energy storage and share close links with past and current battery
test programs already underway within the Company and at the
University of Warwick - Energy Innovation Centre. The conductive
‘Ceylon Graphene Inks’ materials UK patent licence leads to
value-added products currently being developed for water-based
eco-friendly lithium-ion battery anodes. Ceylon Graphite’s
subsidiary in UK and R&D will enable our application for joint
Industrial and academic UK government funding such as UKRI,
Innovation and other Grants. This enables Ceylon Graphite Corp. to
accelerate development of battery products based on value-added
Ceylon Vein Graphite and Graphene products commercialisation.
“We see significant opportunities and a definite
need to supply our high-grade vein graphite to Lithium-Ion battery
manufacturers in both the UK and Europe,” said Don Baxter Chief
Executive Officer. “By being a UK resident we are now closer to our
target end users and directly involved in the Faraday Technology
hub of anode advancement for the EV and energy storage markets.
Brexit has accelerated the UK activities to become self-sufficient
in lithium ion battery manufacturing complete with critical
material processing capabilities.”
Qualified Person
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 highest
grade 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 Sarcon 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 Officerinfo@ceylongraphite.comCorporate
Communications1 604-765-8657 |
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.
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