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Premier Graphene Completes Joint Venture with Leading Technology and Systems Development Company Isatek S.A. de C.V.
PremierPremier(US:PINC) GlobeNewswire News Room·2024-11-20 11:00

Core Viewpoint - Premier Graphene Inc. has completed a joint venture with Isatek SA de CV and other parties to leverage blockchain technology and industrial hemp operations for mutual growth and innovation [1][2][4]. Group 1: Joint Venture Details - The joint venture includes Premier Graphene, Isatek SA de CV, its affiliate Technology Evolution S.A. de C.V., and HGI Industrial Technologies [2]. - HGI Industrial Technologies will issue 10% of its authorized Series A stock to Isatek, while Isatek will reciprocate by issuing 10% of its authorized Series A stock to HGI [2]. - The joint venture aims to create a cryptocurrency to raise funds for the involved companies and to collaborate on industrial hemp operations and products [3]. Group 2: Strategic Focus Areas - Isatek will partner with HGI and Premier Graphene on industrial hemp operations and lease land in key Mexican states for expansion [3]. - Premier Graphene will sell mining production from Isatek's mining concessions, including gold, copper ore, and silver [3]. - Premier Graphene will lease 5,000 hectares in Sonora for graphite deposits, using the land for industrial hemp growth and high-grade graphene development [3]. Group 3: Leadership Insights - Pedro Mendez, CEO of Premier Graphene, expressed enthusiasm about leveraging Isatek's relationships in Mexico and South America for company growth [4]. - Alfonso Jiménez Pérez, CEO of Isatek, highlighted the strategic collaboration's potential to enhance governmental and commercial relations in Mexico and to supply graphene for advanced materials [4]. Group 4: Company Background - Isatek S.A. de C.V. is a pioneer in blockchain technology in Mexico, with its cryptocurrency Amero backed by various resources including gold, silver, and real estate [5]. - Isatek has established its Latin America headquarters in El Salvador and is expanding its crypto trading market across several Latin American countries [6]. Group 5: Premier Graphene's Business Model - Premier Graphene has developed a proprietary method to create high-quality, low-cost graphene from industrial hemp, targeting billion-dollar markets such as the cement industry [8]. - The company is focused on creating graphene-enhanced products and plans to sell graphene suspensions to multinational cement manufacturers [8]. Group 6: Corporate Structure - Premier Graphene underwent a reorganization to minimize debt, resulting in nearly no convertible debentures outstanding [9]. - The company is traded on the OTC Market and is in compliance with reporting requirements, with ongoing efforts to change its name with FINRA and OTC Markets [9].