BPK Resources, Inc. (OTCBB:BPKR) ("BPK" or the
"Company") today announced the acquisition of Graphite Technology
Group, Inc. ("GTG") by merger with BPK Resources Acquisition Corp., a
wholly owned subsidiary of the Company. As a result of the merger,
Graphite Technology Group, Inc. is a wholly owned subsidiary of the
Company.
In connection with the merger, the existing officers and directors of BPK resigned and GTG appointed new directors and officers. James E. Olive, Graphite's Chief Executive Officer, has been appointed Chief Executive Officer of BPK, and Thomas Dugan and Derek Hirsch have been appointed Co-Chairmen. BPK, upon shareholder approval, plans to change its name to iCarbon Corporation.
Mr. Olive stated, "We see the merger as consistent with our goals to establish the Company as a fully integrated graphite and carbon enterprise capable of capitalizing on the present and expected state of the graphite and carbon materials markets. We believe that our business infrastructure is difficult if not impossible to replicate, and we believe investors will recognize that in time. We expect to be a formidable competitor worldwide over the long term."
Derek Hirsch, Director and Co-Chairman, stated, "The merger should allow the Company to meet the new set of financial demands caused by rapidly changing dynamics effecting world supply of natural graphite. Graphite prices have been on a significant upward trend over the last two and a half years analogous to the more obvious trends in oil and gas and base materials. We view the historical supplier domination of the Chinese graphite mines to be unsustainable, the result of internal country growth in China and the region and the depletion of graphite mine reserves of the major producing mines. We believe our mines in Madagascar, Canada and China provide the infrastructure for the Company to respond effectively to the apparent trend underway and the ability to be a superior provider of industrial carbon materials for our customers."
Thomas Dugan, Director and Co-Chairman, added, "The Company has both proprietary and patented technologies that aim to provide superior carbon based materials and carbon product solutions to a wide range of industries. Succeeding as a key supplier to industry will depend upon cohesiveness of commercializing mine reserves, manufacturing strengths and new technologies. Success for the Company will therefore require the financial support that we believe is more available on a timely basis from the public markets. We are very pleased about completing the merger with BPK."
About BPK Resources, Inc.
BPK Resources, Inc., a Nevada corporation with administrative offices located in New Jersey, is an independent oil and gas company previously engaged in the acquisition, exploration and development of natural gas and oil properties.
About Graphite Technology Group, Inc.
Graphite Technology Group, Inc., a Delaware corporation, is engaged in the business of mining, manufacturing and selling natural and synthetic graphite and carbon based materials for use in numerous industries and applications. The company has manufacturing/processing facilities located in New York and Pennsylvania and owns mining rights to operate graphite mines in Canada, Madagascar and China. The company is an ISO certified manufacturer: ISO 9001: 2000.
About Graphite and Carbon Materials Industries
Graphite and carbon materials, such as metallurgical coke, coke breeze, activated carbon, and anthracite coal, are critical industrial materials used widely by basic industries and emerging industries for manufacturing or production processes, or by inclusion in manufactured or produced products. Graphite and carbon materials are used for their chemical composition, thermal properties and lubricity, which have important application for steel and metals manufacturing and manufacturing of brick, tiles, fire retardants, pencil leads, paints, inks, adhesives and abrasives, and automotive brakes, seals, rings and carbon brushes. Graphite and carbon based materials have application in tools, metal parts, dies, and for lubricants, electronic components, plastics, rubber and polymers, glass, filter media and colloidal dispersions among many others. Graphite is used in batteries, fuel cells and structured composite materials and conductive composites utilized in aerospace, automotive, military, electronics and recreational equipment.
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "expects," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events or financial position to differ materially from those included within the forward-looking statements. These factors include the current dependence on foreign suppliers for raw materials, greater resources of competitors, fluctuating prices for graphite and carbon materials, our title to mines being challenged, industry regulation as well as other factors. Readers should reference the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligations to disclose any revision to these forward-looking statements to reflect events or circumstances occurring after the date hereof, other than as required by law.
In connection with the merger, the existing officers and directors of BPK resigned and GTG appointed new directors and officers. James E. Olive, Graphite's Chief Executive Officer, has been appointed Chief Executive Officer of BPK, and Thomas Dugan and Derek Hirsch have been appointed Co-Chairmen. BPK, upon shareholder approval, plans to change its name to iCarbon Corporation.
Mr. Olive stated, "We see the merger as consistent with our goals to establish the Company as a fully integrated graphite and carbon enterprise capable of capitalizing on the present and expected state of the graphite and carbon materials markets. We believe that our business infrastructure is difficult if not impossible to replicate, and we believe investors will recognize that in time. We expect to be a formidable competitor worldwide over the long term."
Derek Hirsch, Director and Co-Chairman, stated, "The merger should allow the Company to meet the new set of financial demands caused by rapidly changing dynamics effecting world supply of natural graphite. Graphite prices have been on a significant upward trend over the last two and a half years analogous to the more obvious trends in oil and gas and base materials. We view the historical supplier domination of the Chinese graphite mines to be unsustainable, the result of internal country growth in China and the region and the depletion of graphite mine reserves of the major producing mines. We believe our mines in Madagascar, Canada and China provide the infrastructure for the Company to respond effectively to the apparent trend underway and the ability to be a superior provider of industrial carbon materials for our customers."
Thomas Dugan, Director and Co-Chairman, added, "The Company has both proprietary and patented technologies that aim to provide superior carbon based materials and carbon product solutions to a wide range of industries. Succeeding as a key supplier to industry will depend upon cohesiveness of commercializing mine reserves, manufacturing strengths and new technologies. Success for the Company will therefore require the financial support that we believe is more available on a timely basis from the public markets. We are very pleased about completing the merger with BPK."
About BPK Resources, Inc.
BPK Resources, Inc., a Nevada corporation with administrative offices located in New Jersey, is an independent oil and gas company previously engaged in the acquisition, exploration and development of natural gas and oil properties.
About Graphite Technology Group, Inc.
Graphite Technology Group, Inc., a Delaware corporation, is engaged in the business of mining, manufacturing and selling natural and synthetic graphite and carbon based materials for use in numerous industries and applications. The company has manufacturing/processing facilities located in New York and Pennsylvania and owns mining rights to operate graphite mines in Canada, Madagascar and China. The company is an ISO certified manufacturer: ISO 9001: 2000.
About Graphite and Carbon Materials Industries
Graphite and carbon materials, such as metallurgical coke, coke breeze, activated carbon, and anthracite coal, are critical industrial materials used widely by basic industries and emerging industries for manufacturing or production processes, or by inclusion in manufactured or produced products. Graphite and carbon materials are used for their chemical composition, thermal properties and lubricity, which have important application for steel and metals manufacturing and manufacturing of brick, tiles, fire retardants, pencil leads, paints, inks, adhesives and abrasives, and automotive brakes, seals, rings and carbon brushes. Graphite and carbon based materials have application in tools, metal parts, dies, and for lubricants, electronic components, plastics, rubber and polymers, glass, filter media and colloidal dispersions among many others. Graphite is used in batteries, fuel cells and structured composite materials and conductive composites utilized in aerospace, automotive, military, electronics and recreational equipment.
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "expects," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events or financial position to differ materially from those included within the forward-looking statements. These factors include the current dependence on foreign suppliers for raw materials, greater resources of competitors, fluctuating prices for graphite and carbon materials, our title to mines being challenged, industry regulation as well as other factors. Readers should reference the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligations to disclose any revision to these forward-looking statements to reflect events or circumstances occurring after the date hereof, other than as required by law.
© 2006 Business Wire
