Lomiko to Retain 40% Ownership in Graphene ESD by Transferring 1,278,790 Graphene 3D Lab Shares to Graphene ESD
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2017) - Lomiko Metals Inc. (TSXV: LMR) (OTCQB: LMRMF) (FSE: DH8B) (the "Company") announces that it has agreed to repay the outstanding loan owed to Graphene ESD Corp. of $144,998.05 plus interest of 1% annually pursuant to the Promissory Note effective November 6, 2015. Lomiko Metals' 100% owned subsidiary Lomiko Technologies has retained a 40% ownership of Graphene ESD. Lomiko Technologies has agreed to transfer 1,278,790 common shares of Graphene 3D Lab Inc. ("GGG") held by the Company which are held in escrow and subject to release on August 8, 2017. GGG is a publicly traded company whose shares trade on the TSX-V.
"Developing High Density Energy Storage Capacity is vital to the Electric Vehicle Industry, the Energy Grid and has a bright future in a variety of mobile power applications.", stated A. Paul Gill, CEO of Lomiko Metals.
When the transfer is completed, the outstanding debt of the Company to Graphene ESD will be extinguished. The Company discloses that Paul Gill is a director of both the Company and Graphene ESD and, as of today, resigned from the Board of Directors of Graphene 3D Lab.
The Company will apply to the TSX Venture Exchange for approval of the transaction.
Lomiko will retain a 40% holding in the private company Graphene ESD which has undertaken a Graphene Supercapacitor patent application with Stony Brook University. The SBU team lead by Dr. Samuilov discovered a novel method for assembly of high-voltage Supercapacitor units. The SBU team assembled and tested a 10 V Supercapacitor energy storage unit, thus proving feasibility of the high-voltage design. This development opens avenue for new low-cost energy storage products. Currently, GESD is working on scale-up of the technology and an in-field evaluation of the energy storage unit.
The Largest Manufacturers of Supercapacitors are Maxell Technologies, Elna America, AVX Corporation, Panasonic Electronic Components, Taiyo Yuden, NessCap Co Ltd., Nichison, United Chemi-con, Cornell Dublier Electronics, Cooper Bussman, Kemet, Rubycon and there are over 300 varieties of Supercapacitors in a growing market for these devices.
Future Market for Supercapacitors from SNE Research
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Supercapacitors are promising energy storage devices. Due to their fast charge-discharge characteristics, low equivalent series resistance, long cycle life, wide operating temperatures, supercapacitors are finding application in transportation, industrial and grid energy storage. There is rapidly growing demand for capacitive energy storage systems with high power and energy densities. However, individual supercapacitor units have very low stand-off voltage, < 3 V. In order to increase the operation voltage to a practical level, > 3 V, the EDLCs are connected in series stacks. The EDLCs need to be interconnected and balanced with an electronic circuit, which results in a bulky and expensive energy storage system.
The GESD-SBU team demonstrated design and implementation of a sealed high-voltage EDLCs energy storage unit. The unit is internally balanced, there is no need for an external circuit. The electrode is very cost-effective nano-carbon composite either of a commercial carbon or of graphene platelets with carbon nanotubes. The nano-carbon electrode materials were used for deposition and assembly of a working prototype of an internally balanced high-voltage energy storage unit. The bench-top prototype unit, tested up to 10 V, exhibited good discharge characteristics and charge retention. This development enables new compact energy storage solutions for grid and vehicular applications.
About Graphene ESD
Graphene ESD is developing energy storage based on graphene platelets. High surface area and outstanding electrical conductivity of graphene enable devices with a unique combination of fast charge/discharge and large stored energy. Our devices utilize graphene platelets manufactured from high-quality natural graphite by a low-cost scalable process. Graphene ESD is 40% owned by Lomiko Technologies Inc. a 100% owned subsidiary of Lomiko Metals ("Lomiko") (TSXV: LMR) (OTCQB: LMRMF) (FSE: DH8B). e-mail: email@example.com.
In addition, the Company also announces that it will be proceeding with its 2nd tranche closing as originally announced by press release dated June 23, 2017. The Company closed a 1st tranche on July 5, 2017 and raised $548,507.48 and the Company will be proceeding with a 2nd tranche in the next few weeks.
ON BEHALF OF THE BOARD
LOMIKO METALS INC.
A. Paul Gill
Chief Executive Officer
We seek safe harbor.
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.