NEW YORK, NY, Dec 10, 2014 – Graphene 3D Lab Inc. announced that it has signed a Letter of Intent (LOI) to acquire Boots Industries Inc., a Canadian 3D printer manufacturer. The LOI highlights include Graphene 3D’s intention to purchase all Boots Industries assets and to hire the team of Boots Industries in an all share transaction capped at $500,000 CA. Graphene 3D and Boots Industries’ team plan to create a proprietary 3D printer with the capability of printing functional and electronic devices and optimized to maximize performance of Graphene 3D functional printing materials.
Founded in 2012 in Quebec City, Boots Industries is a key player in the Canadian 3D printing market. Boots’ BI V2.0, a large-volume, fully featured 3D printer was positively received, with several hundred orders placed. Boots Industries has since made further innovations with its latest model, the BI V2.5.
Daniel Stolyarov, CEO of Graphene 3D commented, “The goal of Graphene 3D is to introduce a 3D printing ecosystem, including a 3D printer and functional materials, capable of printing operational and electronic devices.” He continued, “The team at Boots Industries have been successful to date in the development and sale of high-quality 3D printers, and we have the utmost confidence in their team’s capabilities to develop a multi-material printer optimized for Graphene 3D materials.”
“We are enthusiastic about the opportunity to develop a 3D printer capable of printing operational devices with functional materials. The entire Boots Industries team is looking forward to working within the Graphene 3D team on the next revolution in 3D printing.” said Jean Le Bouthillier, CEO of Boots Industries.
The LOI is exclusive and non-binding prior to the execution of a definitive agreement. Neither party may solicit similar transactions for the duration until closing of the transaction or for a period of 30 days in the event that the LOI is terminated prior to the closing. The LOI calls for an all share deal, capped at a valuation issuance of $500,000 CA common shares. The LOI anticipates the Boots Industries’ development staff joining Graphene Lab’s R&D team. It is anticipated the definitive agreement will be concluded in the first quarter of 2015 and will be subject to exchange and board approval.
About Boots Industries
Boots Industries, located in Quebec City, Canada, develops fused filament fabrication delta 3D printers for retail sale. The company, founded in 2013, is committed to offering user-friendly, high quality 3D printers. Boots Industries latest model, the BI V2.5, is designed with 3D printing best-practices in mind, and offers an optional triple-head extruder.
About Graphene 3D
Graphene 3D Lab is in the business of developing, manufacturing, and marketing proprietary graphene-based nanocomposite materials for various types of 3D printing, including fused filament fabrication. The company is also involved in the design, manufacture, and marketing of 3D printers and related products for domestic and international customers.
The Graphene 3D Lab facility is located in Calverton, NY and is equipped with material processing and analytical equipment. The company has three US patent applications pending for its technology.
For more information on Graphene 3D Lab, Inc., visit www.graphene3dlab.com.
