| Vancouver, BC, March 29, 2023 – Infinity Stone Ventures Corp. (CSE:GEMS) (OTC:GEMSF) (FSE:B2I) (the “Company” or “Infinity Stone”), is pleased to announce the formation of a new wholly-owned subsidiary, AirCarbon Technology Corp. (“AirCarbon”), to develop the Rockstone Graphite Project (“Rockstone” or the “Rockstone Graphite Project”). The Company has also entered into a partnership with R&D Innovation Inc. (“R&D Innovation”) to use their patent-pending and proprietary air classification separation technology (“Air Classification System”) to process samples from the Rockstone Graphite Project. The Air Classification System eliminates the need for flotation, chemicals and drying in the graphite milling process and greatly reduces the capital costs for a traditional graphite mill. It has also been designed to eliminate the need for tailing ponds and greatly lessen the need for significant infrastructure at a mine site.
Robert Rice, President of R&D Innovations Inc., commented, “I believe that Infinity Stone’s Rockstone material has the right geological make up for a very successful test run of our Air Classification System. Over the years, we have come to understand where there are specific challenges with certain graphite deposits, and where there is hard rock graphite material that works well with dry air classification methods.”
Following the initial pilot run of R&D Innovation’s Air Classification System on Rockstone samples, the Company intends to engage the NEI Corporation Inc. for coin cell testing and full material characterization of the Rockstone material. The testing will cover both traditional floated and chemically treated air classified material.
The Company intends to transfer the Rockstone Graphite Project to AirCarbon, following which management intends to pursue a public listing of AirCarbon on a Canadian securities exchange in the coming months. The Company intends to provide further details on the spin-out structure in the immediate future. Through the transfer, AirCarbon will become party to the current option agreement for the Rockstone Graphite Project (the “Option Agreement”) and responsible for all further obligations under the Option Agreement.
“We firmly believe that graphite is being overlooked in the market, considering its critical position in the battery metal supply chain. The recent announcement by Volkswagen of its subsidiary PowerCo SE, opening its first overseas Gigafactory in St. Thomas, Ontario supports the growing demand for domestically mined graphite. Rockstone is strategically positioned to meet this demand given its geographic location near infrastructure and easy shipping routes to the VW new battery plant”, said Zayn Kalyan, CEO and Director of Infinity Stone. “We are excited to be working with the team at R&D Innovation to process samples from Rockstone, a step that we believe has the potential to rapidly increase the development of the project”, further stated Mr. Kalyan. |